suomeksi  česky  english 

Advanced search

Economy and Trade

Czech-Finnish trade relations are characterized by a little share in the global economy and dependence on foreign trade. In other words, both countries are examples of the so-called small open economies.

The post-war trade was insignificant due to the need for reconstruction of the destroyed economies. Finland was economically tied with Sweden, our focus on eastern countries was deepening particularly after 1948.

Both Finland and the Czech Republic are members of the EU (FI since 1995, CZ since 2004), EEA, WTO (FI 1995, CZ 1995), OECD (FI 1969, CZ 1995), UN (FI 1955, CZ as Czechoslovakia 1945 and as a sovereign state 1993), IMF (FI 1948, CZ as Czechoslovakia 1945 and as a sovereign state 1993), World Bank (FI 1948, CZ as Czechoslovakia 1945-1954 and as a sovereign state 1993).

Mutual trade between the Czech Republic and Finland has experienced a dynamic growth in recent years. The balance of mutual trade speaks in favor of the Czech Republic since the value of the country’s exports more than doubles the value of its imports. The basis of the Czech exports to Finland consists of means of transport and machinery (approx. 65 % of the total exports) - this group of products is characterized by a higher share of added value, which is a prerequisite for Czech export companies to remain competitive. In the long term, motor vehicles have been the largest export item, followed by machinery and electronic devices. The Finnish market has been satisfied with the brand of passenger cars Škoda, which has been among the first three best-selling brands on the local market.

Looking at services, the most important areas of our exports to Finland have been telecommunications, IT and information services, transport services and tourism. Also the value of Finnish investments in the Czech Republic has been on its rise since 2012, represented by companies such as Kone, Tieto Evry, Stora Enso, YIT, Alma Media or VexVe. There are also notable Czech investments in Finland, namely by Škoda Transportation and Vafo Praha.