New Delhi, March 5: India and Finland have witnessed a significant 19% increase in bilateral trade during the April-December period of FY26 compared to the same timeframe last year. This growth is expected to gain further momentum with the official visit of Finnish President Alexander Stubb. This information was revealed in a report released on Thursday.
According to the Rubix Data Sciences report, exports have been the primary driver of this new momentum, growing at a year-on-year rate of 11% during the April-December period of FY26.
The report states, “Both governments aim to double the volume of trade, making the President’s visit a potential catalyst for transforming diplomatic intentions into sustainable economic scales.”
It was noted that India’s exports to Finland increased from $300 million in FY22 to $600 million in FY24. Meanwhile, imports remained relatively stable between $800 million and $900 million from FY22 to FY25.
In recent years, India’s trade deficit with Finland has decreased to $300-$400 million, resulting in a more balanced trade relationship.
The report highlights a significant shift in India’s export basket, with the share of heterocyclic compounds rising from 1% to 28%, emerging as the largest export category. The share of passenger and cargo ships increased to 10%, while the share of pharmaceutical products dropped from 18% to 12%.
Although nitrogen fertilizers remain dominant in imports, their share has decreased from 28% to 19%, indicating a reduction in commodity concentration. Electronic integrated circuits remained stable at 15%, while the share of electrical transformers increased from 3% to 5%.
Trade in chemical wood pulp rose from 1% to 4%, underscoring the growing industrial ties.
Currently, Finland accounts for only 1% of India’s total goods trade with the European Union.
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My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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