New Delhi: Bilateral trade between India and Finland has witnessed a growth of 19 percent during the April-December period of Fiscal Year 2026 compared to the same period last year. The official visit of Finnish President Alexander Stubb is expected to infuse new energy into this commercial relationship.
As per agency report, a report released by Rubix Data Sciences on Thursday indicated that exports have been the primary driver of this new momentum, growing at a rate of 11 percent year-on-year during the April-December period of FY26. The report suggests that with both governments aiming to double trade volumes, the President's visit could serve as a catalyst to transform diplomatic intentions into permanent economic scale.
Data from the report highlights that exports from India to Finland increased from 300 million dollars in FY22 to 600 million dollars in FY24. Meanwhile, imports remained relatively stable between 8 billion dollars and 9 billion dollars from FY22 to FY25. Consequently, India's trade deficit with Finland has reduced to between 3 billion dollars and 4 billion dollars in recent years, leading to a more balanced trade situation.
The report also shed light on a sharp shift in India's export basket. The share of heterocyclic compounds has surged from 1 percent to 28 percent, emerging as the largest export category. The share of passenger and cargo ships has risen to 10 percent, whereas the share of pharmaceutical products has declined from 18 percent to 12 percent.
Regarding imports, while nitrogen fertilizers remain dominant, their share has decreased from 28 percent to 19 percent, indicating a reduction in commodity-centricity. Electronic integrated circuits remained stable at 15 percent, while electrical transformers increased from 3 percent to 5 percent. Trade in chemical wood pulp grew from 1 percent to 4 percent, underscoring growing industrial ties. Currently, Finland's share in India's total goods trade with the European Union stands at just 1 percent.
