Goods vehicles market in Finland

Earlier Report Observations

The market for goods vehicles in Finland opened the period at 682.6 million $ in 2018, supported by technological innovations from leading manufacturers such as Volvo and Mercedes-Benz, who introduced new remote management systems and Euro VI Step-D engines. Concurrently, legislative changes, including a new road traffic law and updated vehicle tax rates for different emission classes, established the operational framework for freight transport. However, market volume subsequently trended downwards, reaching a low of 445.0 million $ in 2022. During this phase, the government introduced and later expanded purchase subsidies for gas-powered and electric trucks starting from 2021, aiming to stimulate demand for lower-emission vehicles.

A sharp recovery occurred in 2023, with the market expanding by 30% to 580.1 million $. This surge was primarily driven by a significant acceleration in new truck registrations, particularly for heavy vehicles over 16 tonnes, which increased by 19.5%. The growth was fueled by the upcoming EU-wide mandatory tachograph requirement by August 2023, which prompted a wave of vehicle registrations ahead of the deadline. Major manufacturers contributed to this expansion; Volvo Trucks reported a record year in Finland in 2022 and maintained its market leadership, while Scania and Mercedes-Benz also increased their registrations.

Market volume normalized in 2024, declining to 470.0 million $. Regulatory developments continued to shape the landscape, with the updated EU General Safety Regulation mandating new camera and sensor technology for detecting pedestrians and cyclists in trucks. The new Vehicle Act, which entered into force in 2021, further aligned Finnish standards with EU legislation on motor vehicles and trailers. Purchase subsidies for electric and gas trucks remained in effect, and amendments concerning vehicle dimensions and masses aimed at improving energy efficiency.

Production goods vehicles in Finland

In value, 2017-2020, M $ US

Finland's production of goods vehicles experienced a decline in 2020 after two years of growth. The output was valued at 443.3 million US dollars, marking a moderate decrease of 5.2% compared to 2019. Over the period from 2017 to 2020, production increased by 7.4%, which translates to an annualized growth rate of 2.4%. The peak value was recorded in 2019 at 467.7 million US dollars, with the largest annual increase of 7.2% also occurring that year.

Annual dynamics of production in Finland in value, 2017-2020, M $ US

In kind, 2017-2020, unit

In 2020, Finland produced 1,136 units of goods vehicles, representing a decline of 14.5% from the previous year. From 2017 to 2020, production decreased by 3.9%, with a compound annual growth rate of -1.3%. The highest production level was in 2019, with 1,329 units, and the largest annual increase of 15.5% was also recorded that year.

Annual dynamics of production in Finland in kind, 2017-2020, unit

Exports goods vehicles from Finland

Exports in kind, unit

Exports of goods vehicles from Finland grew for the third consecutive year in 2020. The export volume reached 6,099 units, reflecting a 4.1% increase compared to 2019. Between 2017 and 2020, exports rose by 21.3%, with a compound annual growth rate of 6.6%.

Annual dynamics of product's exports from Finland in kind, 2017-2020, unit

The partner structure for exports in kind from 2017 to 2020 was fragmented, with Norway accounting for 19.4% of exports, Sweden for 16.0%, and Russia for 7.6%. Together, these three countries represented only 43.0% of total export flows, and no single country held a dominant share.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Finland in kind, 2017-2020

Exports in value, M $ US

After two years of growth, exports of goods vehicles from Finland declined in 2020. The export value totaled 697.4 million US dollars, down by 2.6% from 2019. Over the 2017-2020 period, exports increased by 8.5%, with a compound annual growth rate of 2.7%. The peak value was recorded in 2019 at 715.9 million US dollars, and the largest annual increase of 11.2% also occurred that year.

Annual dynamics of product's exports from Finland in value, 2017-2020, M $ US

From 2017 to 2020, goods vehicles from Finland were exported to a broad range of markets. Sweden accounted for 14.0% of exports in value terms, Russia for 13.6%, and Norway for 10.3%. Together, these three countries represented only 38.0% of total export value, with the remaining 62.0% distributed among numerous smaller destinations.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Finland in value, 2017-2020

Imports goods vehicles to Finland

Imports in kind, unit

Imports of foreign goods vehicles into Finland surged in 2020, reaching 19,909 units, which reflects a steep increase of 56.2% compared to 2019. However, over the period from 2017 to 2020, imports decreased by 10.7%, equating to an annualized decline of 3.7%. The lowest import volume was recorded in 2019 at 12,743 units, while the peak was in 2018 at 23,322 units. The largest annual decline of 45.4% occurred in 2019.

Annual dynamics of product's imports to Finland in kind, 2017-2020, unit

The country composition of imports in kind from 2017 to 2020 was dispersed. Germany accounted for 20.4% of imports, France for 16.3%, and Turkey for 11.8%. Together, these three countries formed just 48.4% of total import flows, with the remaining 51.6% split among a wide range of other destinations.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Finland in kind, 2017-2020

Imports in value, M $ US

Finland's imports of goods vehicles declined for the second consecutive year in 2020. The import value totaled 792.4 million US dollars, which is 10.7% lower than in 2019. The peak value was recorded in 2018 at 890.2 million US dollars, with the largest annual increase of 10.9% also occurring that year.

Annual dynamics of product's imports to Finland in value, 2017-2020, M $ US

From 2017 to 2020, Sweden stood out as the main market for imports in value terms, accounting for 33.0% of imports. Germany followed with 22.6%, and France with 9.8%. Together, these three countries represented 65.3% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Finland in value, 2017-2020