Trade between Finland and North Macedonia in 2022
Trade figures between Finland and North Macedonia remain at a moderate level. However, imports from North Macedonia increased significantly and exports decreased year after year, starting from 2019, leaving the export of Finnish products much lower compared to the value of imports from North Macedonia. Numerous opportunities exist for Finnish companies to export to the North Macedonian market.
Trade figures between Finland and North Macedonia (January - December 2022)
Trade exchange in 2022 amounted to EUR 67.6 million, which is 15.3% decrease compared to 2021. Exports from Finland amounted to EUR 4.2 million, which is 73.5% increase compared to 2021. Imports to Finland amounted to EUR 63.4 million, which is 18.1% decrease compared to 2021. The trade balance is negative and it amounts to EUR 59.2 million.
Main export commodities from Finland are: Plastics and articles thereof (EUR 1.4 million); Paper, paperboard and articles thereof (EUR 1.1 million); Machinery and mechanical parts (EUR 0.325 million); Organic chemicals (EUR 0.21 million); Miscellaneous chemical products (EUR 0.174 million); Medical instruments and apparatus (EUR 0.117 million).
Main import commodities to Finland are: Medical instruments and apparatus (EUR 32.7 million); Iron and steel (EUR 26.4 million); Electric machinery and parts (EUR 1 million); Not knitted apparel and clothing (EUR 0.681 million); Knitted apparel and clothing (EUR 0.513 million); Cereals (EUR 0.348 million); Edible vegetables (EUR 0.337 million); Cocoa and its preparations (EUR 0.292 million); Footwear (EUR 0.213 million).
Plastics and articles thereof contribute with 34.6% and paper, paperboard and articles thereof contribute with 26.7% of overall Finnish exports towards North Macedonia. These two industries amount to 61.3% of the overall Finnish exports towards North Macedonia.
Until 2019, North Macedonian market has been quite unexplored for Finnish companies. However, since then situation changed significantly. Medical instruments and apparatus contribute with 51.6% and iron and steel contribute with 41.7% and of overall Finnish imports from North Macedonia. These two industries amount to 93.3% of the overall Finnish imports from North Macedonia.
Source: Finnish Customs, International Trade Statistics http://uljas.tulli.fi/(Linkki toiselle web-sivustolle.)