Trade figures between Finland and Western Balkan countries, Serbia, Macedonia and Montenegro, remain at a moderate level. The export of Finnish products remains strong compared to the value of imports from Serbia 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 2015)
Exports from Finland amounted to 26.5 million EUR, which is 24% decrease compared to 2014. Imports to Finland amounted to 16.7 million EUR, which is 23% increase compared to 2014. The trade balance remains positive and it amounts to 9.8 million EUR in 2015.
Main export commodities from Finland are paper, paperboard and articles thereof (4.8 million EUR); Electric machinery and parts (4.2 million EUR); Iron and steel (3.4 million EUR); Office machines and adp machines (2.3 million EUR); Plastics in primary forms (2.3 million EUR); Machinery for specialized industries (1.7 million EUR); General industrial machinery (1.1 million EUR); Instruments and apparats (1.1 million EUR).
Main import commodities to Finland are electric machinery and parts (2.7 million EUR); Footwear (2.5 million EUR); Paper, paperboard and articles thereof (2.3 million EUR); Feeding stuff for animals (1.7 million EUR); Vegetables and fruits (1.2 million EUR); Plastics in non-primary forms (1.1 million EUR); Rubber manufactures (1.1 million EUR); Articles of apparel and clothing accessories (0.9 million EUR).
Finnish paper industry has a strong impact on Serbian market as products from this industry amount to 18.3% of overall exports from Finland to Serbia. Electric machinery and parts follow with 16%. Serbian products from electric machinery, footwear and paper industry are equally important, looking at the Finnish imports. These three industries amount to 45.3% of the overall Finnish imports from Serbia.
Potential sectors to increase the export from Finland to Serbia are machinery, medical and food processing sectors. Potential sectors to increase the import from Serbia to Finland are textile, metal and food processing sectors.
Trade figures between Finland and Macedonia (January- December 2015)
Exports from Finland amounted to 4.5 million EUR, which is 18% decrease compared to 2014. Imports to Finland amounted to 11.7 million EUR, which is 125% increase compared to 2014. The trade balance is negative and it amounts to 7.2 million EUR.
Main export commodities from Finland are plastics in primary forms (1.6 million EUR); Plastics in non-primary forms (0.5 million EUR); Non-metallic mineral manufactures (0.4 million EUR); Telecommunications and sound recording equipment (0.3 million EUR); Paper, paperboard and articles thereof (0.3 million EUR); Miscellaneous manufactured articles (0.2 million EUR); Office machines and adp machines (0.2 million EUR); Rubber manufactures (0.2 million EUR).
Main import commodities to Finland are iron and steel (6.6 million EUR); Articles of apparel and clothing accessories (4.1 million EUR); Footwear (0.3 million EUR); Electric machinery and parts (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 metal processing and textile industries. These two industries amount to 91.5% of the overall imports to Finland from Macedonia. Plastics in primary and non-primary forms contribute to 47.6% of the overall Finnish exports towards Macedonia.
Potential sectors to increase the export from Finland to Macedonia are machinery and paper sectors. Potential sectors to increase the import from Macedonia to Finland are textile, metal and food processing sectors.
Trade figures between Finland and Montenegro (January- December 2015)
Exports from Finland amounted to 2.4 million EUR, which is more than 999% increase compared to 2014. Imports to Finland amounted only to 9,940 EUR, which is still 180% increase compared to 2014. Trade balance is positive and it amounts to 2.4 million EUR.
Main export commodities from Finland are machinery for specialized industries (1.2 million EUR); Other transport equipment (0.7 million EUR); Iron and steel (0.1 million EUR); Electric machinery and parts (0.1 million EUR).
Main import commodities to Finland are electric machinery and parts (5,371 EUR); Telecommunications and sound recording equipment (2,251 EUR); General industrial machinery (1,915 EUR).
As in the case of Macedonia, Montenegrin market is unexplored for Finnish companies. Even though there was an increase of 999 % in the export and 180% in the import in 2015, the overall trade figures are still small between these two countries. Machinery and transport equipment contribute with 82.2% of overall exports from Finland to Montenegro.
Potential sectors to increase the export from Finland to Montenegro are machinery, nautical, medical and food processing sectors. Potential sectors to increase the import from Montenegro to Finland are metal and food processing sectors.
