Trade, economic and investment cooperation
Trade and economic cooperation between Belarus and Finland is mutually beneficial. At the end of 2021 the turnover of trade in goods and services between the two countries amounted to 191.5 million US dollars, which is 15.2% lower than in 2020.
Dynamics of trade of goods between Belarus and Finland (million US dollars)
|
|
Turnover |
Export |
Import |
|||
|
Сost |
Growth % |
Сost |
Growth % |
Сost |
Growth % |
|
|
2015 |
108,5 |
-35,3 |
31,5 |
-28,5 |
77,0 |
-37,6 |
|
2016 |
101,2 |
-5,9 |
16,6 |
-47,6 |
84,6 |
12,2 |
|
2017 |
122,4 |
20,6 |
19,4 |
16,8 |
102,7 |
18,8 |
|
2018 |
127,6 |
4,5 |
18,8 |
-3,1 |
108,8 |
5,9 |
|
2019 |
138,8 |
8,9 |
25,5 |
35,6 |
113,3 |
4,1 |
|
2020 |
162 |
116,5 |
26,2 |
102,6 |
135,8 |
119,8 |
|
2021 |
151,4 |
93,4 |
23,3 |
89 |
128,1 |
94,3 |
In 2021, Belarusian exports consisted of 124 commodity lines, and Finnish imports amounted to 425 commodity lines.
In 2021, exports of Belarusian services to Finland dropped to USD 31 million (71.5% of the total volume). (71.5% compared to 2020). The negative trends are mainly attributable to the termination of direct bilateral flights, epidemiological restrictions, and a slowdown in business life.
Imports of services from Finland in 2021 amounted to USD 9.1 million. Imports of services from Finland in 2021 amounted to USD 9.1 million (85.6% of the 2020 level).
According to the National Statistical Committee of the Republic of Belarus, Finnish investments on a net basis amounted to USD 8.4 million in 2021. The volume of Finnish investments on a net basis was $8.4 million.
Investments from Belarus to Finland in 2021 amounted to USD 1.1 million. The cumulative amount of investments made by Belarus in Finland in 2021 was US$1.1 million.
Accumulated investments from Finland into the real sector of Belarus' economy as of 1 January 2022 amounted to USD 70.4 million, of which USD 70 million were direct investments.
Since 2008, Belarus and Finland have alternately held bilateral economic forums every two years. The VI Belarus-Finland Economic Forum was held on May 31, 2018 in Savonlinna.
As of January 1, 2021, 27 organizations with Finnish capital were registered in Belarus — 7 joint ventures and 20 foreign enterprises.
The Finnish-Belarussian Chamber of Commerce and the Finnish-Belarussian Trade Association operate in Finland.
