FINLAND-U.S. ECONOMIC
DEEP DIVE 2026

Finland-U.S. Trade remains robust. Read the Annual Survey of Jobs, Trade and Investment between Finland and the United States.

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Finland-U.S. Trade Relationship

The United States retained its position as Finland’s single largest export destination in 2025, outpacing Sweden and Germany, according to a report published today by Amcham Finland. 

Total two-way trade between Finland and the United States in goods and services reached €22.5 billion in 2025, the third-highest on record, even as average U.S. tariffs on Finnish goods multiplied. Underlying goods exports, excluding a major one-off cruise ship delivery, declined by an estimated 15% year-on-year, consistent with the dampening effect of the tariff environment.

Investment and Employment Ties Run Deep
  • Trade statistics alone understate the scale of bilateral ties. Finnish direct investment in the United States stood at €17.1 billion in 2024, while U.S. direct investment in Finland reached €13.8 billion. Based on the most recent available data, Finnish-majority companies employed 40,275 Americans in 2023, while U.S. companies directly supported 29,737 jobs in Finland in 2024.
  • At the broader transatlantic level, the true measure of integration is not goods crossing borders but companies embedded in each other’s economies, a relationship valued at some $7.4 trillion in total annual European-American affiliate sales, a pattern that Finland’s own investment figures reflect.
  • Finnish goods exports to the U.S. reached €9.4 billion in 2025, with the headline figure boosted by a major cruise ship delivery that drove the other transport equipment category from €91.8 million to €1,931.5 million.
  • Beneath that one-off, the underlying export base remained broadly stable: professional instruments and apparatus grew to €904.5 million, and electric machinery remained above €500 million at €547.9 million, while pharmaceuticals declined from €1,002.8 million to €646.8 million and specialized industrial machinery from €615.0 million to €446.0 million.
  • Service exports totaled €5.9 billion, nearly triple the 2014 level, with ICT services accounting for more than half.
  • Finland’s economy grew 0.2% in 2025, weighed down by weak household consumption, elevated unemployment at 9.7%, and the impact of tariffs.
  • The closure of the Strait of Hormuz following the outbreak of conflict in the Persian Gulf in February 2026 has introduced a fresh energy price shock, which clouds the economic outlook.
  • ETLA projects GDP growth of 1.0% in 2026 and 1.5% in 2027, contingent on an early resolution to the Gulf conflict, which it identifies as the central risk to the forecast.
  • Finland’s energy import profile has shifted markedly since 2022. U.S. exports of oil and gas to Finland grew from negligible levels in 2000 to €595.4 million by 2025, reflecting Finland’s pivot away from dependence on Russian energy.
  • Across Europe, the United States now supplies 60% of the EU’s liquefied natural gas, up from just 5% of the EU’s total gas imports in 2021.

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Transatlantic Opportunity 2026

The Transatlantic Economy 2026

The transatlantic economy – worth $9.8 trillion – is the world’s largest and most consequential economic relationship. Although it faces stormy seas in 2026, it does so with strong momentum following a year marked by all-time highs across a range of indicators.

Inevitable transatlantic differences should not distract us from the fact that Europe and the United States share the most mutually beneficial relationship on the planet.

Download the report
Transatlantic_economy_2026_COVER
For more information contact:
Amcham Finland team Director of Digital and Communications Hanh Nguyen

Hanh Nguyen

Director of Digital & Communications

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