In 2020, the U.S. was the on­ly count­ry in Fin­land’s top se­ven ex­port mar­kets to which ex­ports inc­re­a­sed. The U.S. is now Fin­land’s se­cond-lar­gest tra­ding part­ner, al­most on par with Swe­den, and is al­so the se­cond-lar­gest sour­ce of fo­reign di­rect in­vest­ment to Fin­land.

When I first read these data points – brought to you through our Fin­land Sup­p­le­ment to the Tran­sat­lan­tic Eco­no­my Re­port – my first re­ac­ti­on was pride. This growth tell us that even du­ring a po­li­ti­cal­ly tur­bu­lent ye­ar, where all count­ries na­vi­ga­ted a glo­bal pan­de­mic, the eco­no­mic re­la­ti­ons­hip bet­ween the U.S. and Fin­land re­mai­ned firm.

In my role le­a­ding Amc­ham Fin­land, a sig­ni­fi­cant part of my job is wor­king with po­li­cy ma­kers on both si­des of the At­lan­tic, sha­ring in­for­ma­ti­on with our mem­bers, and cre­a­ting op­por­tu­ni­ties for pe­op­le to make the con­nec­ti­ons they need. This inc­lu­des tal­king to de­ci­si­on-ma­kers about the op­por­tu­ni­ties that the tran­sat­lan­tic re­la­ti­ons­hip of­fers. Our team of eight works hard to save our mem­bers time, mo­ney and re­du­ce their risk when en­te­ring and gro­wing in the U.S. mar­ket, and to help mul­ti­na­ti­o­nals in Fin­land share best prac­ti­ces and grow their bu­si­ness suc­ces­s­ful­ly.

This spring, we wan­ted to de­fi­ni­ti­ve­ly high­light the im­por­tan­ce of the eco­no­mic re­la­ti­ons­hip bet­ween the U.S. and Fin­land, so we pub­lis­hed the first ever Fin­land Sup­p­le­ment to the Tran­sat­lan­tic Eco­no­my Re­port 2021. To sup­port and pro­mo­te the tran­sat­lan­tic re­la­ti­ons­hip, Amc­ham Fin­land has an­nu­al­ly co-spon­so­red the Tran­sat­lan­tic Eco­no­my Re­port, com­pi­led by AmC­ham EU and the U.S. Cham­ber of Com­mer­ce, pro­vi­ding re­a­ders with the most up-to-date pic­tu­re on the eco­no­mic re­la­ti­ons­hip bet­ween the U.S. and Eu­ro­pe. Pub­lis­hing the inau­gu­ral Fin­land sup­p­le­ment is an im­por­tant step in brin­ging con­fi­den­ce and va­lu­ab­le in­sights to our gro­wing tran­sat­lan­tic com­mu­ni­ty.

The re­port is pac­ked with sta­tis­tics and in­sights on trade, in­vest­ment, di­gi­ti­za­ti­on, med-tech and more. Along with dis­cus­sing U.S. in­vest­ments to Fin­land, the sup­p­le­ment al­so looks at the inc­re­a­sing role of ser­vi­ces ex­ports. While ex­ports of goods from Fin­land to the U.S. inc­re­a­sed by just 1% in 2020, ex­ports of ser­vi­ces inc­re­a­sed by 34% ye­ar-on-ye­ar. This says a lot about where the op­por­tu­ni­ties lie going for­ward. The U.S. and Fin­land are in the midst of gro­wing a mo­dern and high-tech tra­ding re­la­ti­ons­hip ba­sed on know­led­ge-trans­fer and data flows. The life-scien­ces sec­tor is emer­ging as inc­re­dib­ly im­por­tant for both count­ries, as are op­por­tu­ni­ties in clean-tech, re­ne­wab­le ener­gy and sus­tai­nab­le con­sump­ti­on.

I strong­ly ur­ge you to down­lo­ad the re­port to un­ders­tand more about the mas­si­ve op­por­tu­ni­ty in front of us. To­get­her, Fin­land and the Uni­ted Sta­tes can build an even brigh­ter fu­tu­re. When our com­pa­nies, uni­ver­si­ties and or­ga­ni­za­ti­ons work to­get­her, we are more in­no­va­ti­ve and cre­a­te more va­lue for so­cie­ty than we would apart.

The U.S. eco­no­my is set to grow 6,4% this ye­ar (sour­ce: IMF). With Pre­si­dent Bi­den’s vac­ci­ne roll-out pro­cee­ding apa­ce and by al­lo­wing the eco­no­my to heal, there is more op­por­tu­ni­ty than ever for Fin­nish-U.S. bu­si­ness to thrive. Simp­ly put, there has ne­ver been a bet­ter time to plan and to grow yo­ur Fin­nish bu­si­ness in the Uni­ted Sta­tes. The time to act on tran­sat­lan­tic bu­si­ness is now.

Ale­xand­ra Pas­ter­nak-Jack­son, CEO at Amc­ham Fin­land, is wor­king to make Fin­land a more open and in­ter­na­ti­o­nal place to do bu­si­ness and to help Fin­nish com­pa­nies na­vi­ga­te the US mar­ket. She has taught on the im­por­tan­ce of net­wor­king as well as held non-pro­fit bo­ard po­si­ti­ons, both in Fin­land and the US. Ale­xand­ra holds an MBA from Haa­ga He­lia Uni­ver­si­ty of Ap­p­lied Scien­ces and a BA from the El­li­ott School of In­ter­na­ti­o­nal Af­fairs at the Ge­or­ge Was­hing­ton Uni­ver­si­ty.

Edi­ted/up­da­ted 7.5.2021: IMF's ne­west es­ti­ma­te of the U.S. eco­no­my growth rate this ye­ar, from 5,1% to 6,4%.