Finland
Ukraine & Finland economic dialogue
€52 mln
Bilateral goods trade at just €52 mln surplus for Finland in 2024, with Ukraine accounting for 0.2% / 0.1% of trade
€105 mln
Finland’s services exports reached €105 mln in 2024, with €78 mln surplus largely driven by Ukrainian refugees’ spending
the 2nd
Largest foreign nationality in Finland (~41k residents; ~77k under protection) are Ukrainians
~$100 mln
Finnish FDI stock ~$100 mln, with 144 companies operating in Ukraine
Centre for Economic Strategy (CES), an independent Ukrainian think tank that analyzes key public policies and promotes support for reforms.
With donor support, CES has launched a series of studies on trade relations between Ukraine and the European Union countries.
Free movements of goods and services
Bilateral goods trade remains very limited, with Finland exporting mainly industrial products (paper, machinery, petroleum) and Ukraine supplying raw materials and agricultural goods (iron ore, oilseeds)
Finland’s exports increasingly include equipment linked to infrastructure and potential defence use
Services play a minor role in Finland–Ukraine trade: Ukraine makes up just 0.2% of Finland’s extra-EU service imports and 0.5% of its exports
Much of services exports reflects spending in Finland by Ukrainian refugees using Ukrainian bank cards
Trade Balance UA-FI 2024
Free movement of persons and capital
Ukrainians in Finland in 2024. The 2nd largest foreign nationality in the country
Ukrainian immigration sustains Finland’s population growth
Finland’s FDI stocks in Ukraine have stayed low over the past decade and have shown no positive trend, hovering around $100 mln
There are 144 businesses in Ukraine linked to Finland. There are no Ukrainian companies in Finland
Ukrainians in Finland (thousands), 2024
Tighter co-operation potential
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Finland–Ukraine ties remain limited but offer potential in areas like telecommunications, where Finland’s technological strengths align with Ukraine’s need for secure, EU-aligned infrastructure.
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Shared security challenges as neighbours of Russia further support closer strategic and economic cooperation.
Interesting facts
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