US becomes Finland´s largest export partner surpassing Sweden

Exports of Finnish goods to the United States increased significantly in August this year, said Finnish Customs in a press release on Thursday.

Exports to US amounted to exactly EUR 1 billion in August, which is 224.3% more than in the stipulated month of the previous year and the country became the largest export partner of Finland surpassing Sweden.

“Over the summer, the United States has overtaken Sweden as Finland’s largest export partner. The exceptional trade agreement between the EU and the United States officially entered into force in July 2026 and will remain in force until the end of 2029. The agreement appears set to provide a more predictable framework for international trade, which is important for businesses,” said Olli-Pekka Penttilä, Head of Statistics and Information Services of Customs in the press release.

According to the preliminary statistics of Finnish Customs, the value of goods exports was EUR 6.3 billion in August 2026. Exports in August grew by 21.8% and the total exports for January–August by 11.5% compared to the corresponding periods in 2025.

Pharmaceuticals recorded the fastest export growth, with most exports destined for the United States.

Exports to non-EU countries increased by 18.1%. In August, the export volumes to non-EU countries increased by 30.7%.

The value of the pharmaceutical products increased by as much as 735% compared to August the previous year. In January–August 2026, their exports grew by 251% compared to January–August 2025.

“The growth in exports of pharmaceuticals has been very fast – the product category already accounts for more than a third of total export growth. Their export to the United States has increased manifold over the current year, and already more than half of the total exports of this goods category are exported to the United States,” said Penttilä.

Most of Finland’s main export sectors recorded strong export growth in August. Machinery and equipment (11%) and electrotechnical products (23%) continued to show strong export growth. In addition, in forest industry products, the increase in paper and paperboard exports supported overall export growth. Exports of metal industry products also recorded a strong growth in August.

Compared to the previous year, exports of transport equipment, energy products and pulp were more modest.

In August, the value of goods exports was lower than the value of goods imports, resulting in a trade deficit of EUR 1.1 billion.

As there has been a trade deficit almost every month, the total trade deficit for January–August was EUR 2.8 billion. The largest trade deficit was in energy products, which recorded a EUR 3.5 billion deficit in January–August.