New Delhi, March 5 (IANS). India-Finland bilateral trade has grown by 19 per cent in the April-December period of FY26 as compared to the same period last year and will get a fresh boost from the official visit of Finnish President Alexander Stubb. This information was given in a report released on Thursday.
Exports have been the main driver of this new momentum, growing at 11 per cent year-on-year in April-December of FY26, the Rubix Data Sciences report said.
“As both governments aim to double trade volumes, the President’s visit could act as a catalyst to translate diplomatic intentions into sustainable economic scale,” the report said.
The report said that exports from India to Finland will increase from $300 million in fiscal year 2022 to $600 million in fiscal year 2024. At the same time, imports remained almost stable at $ 800-900 crore between FY 2022 and FY 2025.
In recent years, India’s trade deficit with Finland has come down to $300-400 crore, making the situation more balanced.
The report highlights a sharp transformation in India’s export basket, with the share of heterocyclic compounds increasing from 1 per cent to 28 per cent and emerging as the largest export category. The share of passenger and cargo ships increased to 10 percent, while the share of pharma products decreased from 18 percent to 12 percent.
Nitrogen fertilizers, though still dominant in imports, have reduced their share from 28 percent to 19 percent, leading to a reduction in commodity concentration. Electronic integrated circuits remained steady at 15 percent, while power transformers increased from 3 percent to 5 percent.
Trade in chemical wood pulp increased from 1 percent to 4 percent, underscoring growing industrial ties.
At present, Finland’s share in India’s total merchandise trade with the EU is only 1 percent.
–IANS
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