Customs Statistics: Trade between Finland and Serbia, Macedonia and Montenegro in 2017

Trade figures between Finland and Western Balkan countries, Serbia, Macedonia and Montenegro, remain at a moderate level. The export of Finnish products remains stronger compared to the value of imports from Serbia, Macedonia and Montenegro. Numerous opportunities for Finnish companies to improve current trade figures exist in these Western Balkan markets. 

Trade figures between Finland and Serbia (January - December 2017)

Exports from Finland amounted to 27.9 million EUR, which is 6% increase compared to 2016. Imports to Finland amounted to 26.6 million EUR, which is 25% increase compared to 2016. The trade balance remains positive and it amounts to 1.3 million EUR in 2017.

Main export commodities from Finland are paper, paperboard and articles thereof (6.1 million EUR); Plastics and articles thereof (5.1 million EUR); Iron and steel (3.3 million EUR); Electric machinery and parts (4 million EUR); Mechanical machinery and parts (3.4 million EUR); Instruments and apparatus (1.3 million EUR).

Main import commodities to Finland are electric machinery and parts (6.9 million EUR); Mechanical machinery and parts (4.3 million EUR); Footwear (2.0 million EUR); Paper, paperboard and articles thereof (1.8 million EUR); Rubber and articles thereof (1.7 million EUR); Edible fruit and nuts (1.6 million EUR); Plastics and articles thereof (1.4 million EUR).

Finnish paper industry has a strong impact on Serbian market as products from this industry amount to 21.9% of overall exports from Finland to Serbia. Plastics and articles thereof follow with 18.3%. Looking at the Finnish imports, Serbian electric machinery and parts amount to 25.9%, mechanical machinery and parts 16.1% and footwear 7.5%. These three industries amount to 49.5% of the overall Finnish imports from Serbia.

Trade figures between Finland and Macedonia (January - December 2017)

Exports from Finland amounted to 4.7 million EUR, which is the same as in 2016. Imports to Finland amounted to 3.9 million EUR, which is 18.7% decrease compared to 2016. The trade balance is positive and it amounts to 0.8 million EUR.

Main export commodities from Finland are mechanical machinery and parts (1.3 million EUR); Plastics and articles thereof (1.2 million EUR); Electric machinery and parts (0.3 million EUR); Paper, paperboard and articles thereof (0.3 million EUR); Rubber and articles thereof (0.2 million EUR); Aluminium and articles thereof (0.2 million EUR).

Main import commodities to Finland are articles of apparel and clothing accessories (3.0 million EUR); Electric machinery and parts (0.2 million EUR); Footwear (0.2 million EUR); Beverages (0.1 million EUR).

Macedonian market is quite unexplored for Finnish companies. Finnish companies are engaging Macedonian companies as subcontractors, mostly in textile industry which amounts to 76.9% of the overall imports to Finland from Macedonia. Mechanical machinery and parts contribute to 27.6% of the overall Finnish exports towards Macedonia.

Trade figures between Finland and Montenegro (January - December 2017)

Exports from Finland amounted to 2.7 million EUR, which is 58% decrease compared to 2016. Imports to Finland amounted to 0.4 million EUR, which is 100% increase compared to 2016. Trade balance is positive and it amounts to 2.3 million EUR.

Main export commodities from Finland are mechanical machinery and parts (2.1 million EUR); Electric machinery and parts (0.2 million EUR); Medical equipment (0.2 million EUR).

Main import commodities to Finland are iron and steel (0.2 million EUR) and rubber and articles thereof (0.2 million EUR).

As in the case of Macedonia, Montenegrin market is unexplored for Finnish companies. Even though there was an increase 100% in the import in 2017, the overall trade figures are still small between these two countries. Machinery contributes with 77.8% of overall exports from Finland to Montenegro.

Source: Finnish Customs, Foreign Trade Statistics(Link to another website.) (Opens New Window)