Foreign direct investments to Finland growing strongly in 2025

Finland's inward FDI

As financial transactions, inward FDI amounted to EUR 8.4 billion during the year. The figure includes increases in equity made by foreign owners minus decreases in equity and net growth in debt-based liabilities.

Reinvested earnings decreased the investment stock by EUR 0.1 billion, because dividends paid to foreign investors (EUR 7.7 billion) during the year exceeded the combined return on capital in Finnish direct investment enterprises (EUR 7.6 billion).

Other changes in the stock increased the value of the investment stock by EUR 1.5 billion. Other changes include changes in classifications and exchange rates and other price changes.

The net effect of these flows on the value of the investment stock was EUR 9.8 billion, and the investment stock stood at EUR 92.5 billion at the end of the year. The biggest investor countries were Sweden (EUR 25.8 billion), the Netherlands (EUR 12.4 billion) and Luxembourg (EUR 11.9 billion).

Examined by the ultimate investor country, the biggest investor countries were Sweden (EUR 19.9 billion), the United States (EUR 15.0 billion) and Luxembourg (EUR 7.1 billion). Data according to the ultimate investor country can be viewed in database table 12pi.

Investments in data centres are usually recorded in industry J Information and communication (58 to 63). Table 12gu shows that inward FDI to enterprises in this industry category amounted to EUR 2.6 billion on net during the year.

Finland's outward FDI

As financial transactions, outward FDI on net amounted to EUR 4.7 billion during the year. In addition to internal financing arrangements of large enterprises, the figure includes corporate acquisitions and investments in business expansions abroad.

Reinvested earnings were at their lowest level since 2020, but they still increased the investment stock by EUR 3.8 billion. Finnish investors received EUR 9.1 billion in dividends from their foreign affiliates, associate companies and branches during the year.

Other changes had a total effect of EUR -4.2 billion on the value of the investment stock. With the exception of the Swedish krona, the euro strengthened against the other major counter currencies during 2025, leading to a decrease in the euro-denominated value of assets listed in other currencies. The figure also includes other price changes.

The net effect of the above-mentioned flows on the value of the investment stock was EUR 4.4 billion and the investment stock stood at EUR 144.0 billion at the end of the year. The biggest target countries of investments were Sweden (EUR 39.6 billion), the United States (EUR 17.1 billion) and the Netherlands (EUR 12.9 billion).