The economic relations between Austria and Finland, the two compact and effective economies are based on mutual respect, quality products as well as long business relationship since decades.
The exported products from Finland to Austria, the three main categories with worth of EUR 734 Million are machinery and vehicles, electrical goods as well as wood and pulp. Vice versa Austria’s export to Finland is concentrated on machinery and vehicles, electrical goods and on organic compounds.
Both countries share a deep affection for the forest industry and related products and innovations. Finland is Europe’s most forested country, with woods accounting for 78% of its land area and forestry making up over 13% of the Finnish GDP. So, among the top three exports is paper and paperboard products as well as mineral fuel and machinery including mechanical equipment. The Austrian companies have been active during the last year’s on the Finnish, especially on the forestry market. A few sawmills and paper product producers have been acquired by renowned Austrian companies and are now lead in good spirit and with signs of expansion.
As we all know, Finland and Austria are in the field of startups very innovative and collaborating in this sector also. Finland has a vibrant startup scene with over 10 unicorns e.g. the health tech smart ring manufacturer Oura, based in Oulu, northern part of Finland. The vibrant and innovative startup scene, especially in capital area of Finland attracts also Austrian startups to participate the Slush 2023.
