Why Sell into Finland?
Finland is a highly industrialized country whose economy relies heavily on foreign trade, which represented 78% of its GDP in 2018. The country’s main trading partners are Germany and Sweden. Often cited as a model example for its economic performance, competitiveness and innovative success, Finland has faced difficulties to recover from the global financial and the Eurozone crisis. Finland is vulnerable to the international conjuncture and the country suffered from the EU sanctions against Russia. International Monetary Fund expects the unemployment rate to be heavily affected by the negative economic impact of the COVID-19 pandemic, the rate being currently estimated to increase to 8.3% in 2020 and to 8.4% in 2021. Finland is the European country most impacted by an aging population and a fall of its labor force, a phenomenon that weighs heavily on its public finances.
Finland has one of the highest Internet and broadband penetration rates in the world. There is also a robust ecommerce service provider ecosystem, and ecommerce is popular and growing, driven primarily by the variety of goods and lower prices compared to traditional brick-and-mortar retailers. Finns rely heavily on foreign retailers for online purchases, giving foreign retailers an opportunity to acquire customers (54% of online shoppers have made purchases abroad). The top industries selling online are clothes, shoes and accessories, media, and electronics.
Localized Shopping Experiences in Finland
Available Product Categories
Digital
Physical
Preferred currency
Popular payment options
Intelligent transaction routing
Established tax registration
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Popular payment types in
Finland
Popular online payment methods are debit/credit cards, direct payment via bank, invoice, and PayPal. It is important to assure the safety of those methods, as Finns are extremely concerned about the safety of their payment information.
Available payment types for Finland
Payment methods for Finland