Finnish exports to Spain reached 1.22 billion euros in 2022

Finnish-Spanish relations: A closer look at trade dynamics under Ambassador Sari Rautio

The appointment of Sari Rautio as the Finnish Ambassador to Spain in 2021 marked a significant milestone in the bilateral relations between Finland and Spain. Her tenure has seen a continued strengthening of ties, particularly in trade and economic cooperation.

The trade relationship between the two countries is diverse and robust. In 2017, the total trade volume was reported at 2.27 billion euros, comprising Finnish exports to Spain worth 1.07 billion euros and Spanish imports at around 1.2 billion euros. According to the United Nations COMTRADE database on international trade, Finland's exports to Spain reached 1.22 billion euros during 2022, demonstrating a steady and robust recovery in the trade relations between the two countries.

Key sectors in Finnish exports to Spain include traditional paper and cardboard, valued significantly in the trade figures. Industrial machinery, engines, and chemical industry products also contribute notably to the export value. On the Spanish side, the export of vehicles constitutes a substantial portion of trade, alongside iron, steel, and food products, particularly fruits and vegetables.

The service sector trade has shown remarkable growth, reaching approximately 1.36 billion euros in 2017. However, this sector presents a substantial trade imbalance, with Finland having a deficit - earning 360 million euros against expenditures of 1 billion euros. Finnish service exports are largely in telecommunications and IT, while Spain's exports are dominated by tourism and transport services.

Under Ambassador Rautio's guidance, these economic exchanges have not only sustained but are also poised for further expansion. Her background in security and crisis management adds an additional layer of depth to the bilateral relations, especially in the context of shared EU policy interests.

The tourism industry plays a pivotal role, with an estimated 800,000 Finnish tourists traveling to Spain annually. This not only fosters cultural exchange but also contributes significantly to the service trade balance. The growing interest of Spanish tourists in Finland further enriches this exchange.

With over 250 Finnish companies operating in Spain and more than a hundred micro-enterprises in the Costa del Sol region serving the Finnish community, the business landscape is vibrant and diverse. This economic engagement, supported by the diplomatic efforts of Ambassador Rautio, reflects a strong, mutually beneficial partnership between Finland and Spain. Her role in facilitating and nurturing these ties is a testament to the dynamic and evolving nature of this bilateral relationship.

"At iBerotech , we work tirelessly to play a pivotal role while guiding Finnish organisations to successfully establish and grow in the Spanish market, leveraging our expertise in B2B sales and strategic partnership development." - Julio Gomez, Founder and CEO.