Half of Finnish Export Companies Consider Ukraine’s Reconstruction Market

Finnish exporters have turned their attention to Ukraine, with half now viewing the country’s reconstruction as a viable market opportunity. One in five export companies is already preparing concrete steps to enter Ukraine—a process supported by the Confederation of Finnish Industries’ (EK) Pro Ukraina export program, launched in August. EK’s Export Barometer also reveals a positive shift in Finland’s overall export outlooks since the spring.

According to EK’s Export Barometer, Finnish companies’ interest in the Ukrainian market is significant:

• Overall, 51% of export companies see Ukraine as a relevant business opportunity.
• 19% are either already operating in Ukraine or preparing market entry, while 32% are actively monitoring market developments.
• Meanwhile, 45% do not currently consider Ukraine a relevant or attractive target market.

The broader export outlook has also improved since spring: 38% of companies now expect export growth over the next six months, up from 31% in spring. Only 12% now anticipate a decline in exports. The main headwind, cited by 67% of respondents, remains geopolitical uncertainty.

Europe’s Next Major Growth Market

The World Bank estimates that Ukraine’s reconstruction will require €500 billion in investments over the next decade, positioning the country as Europe’s most significant growth market. Ukrainian stakeholders are encouraging European and Finnish firms to participate now, emphasising that reconstruction must adhere to European technical standards and support the country’s EU accession pathway.

EK estimates that Ukraine’s reconstruction could generate €1–2 billion in annual export opportunities for Finland. Finnish companies are well placed to deliver solutions in industrial machinery and equipment, energy technology, digital solutions, and defence industries.

The Pro Ukraina export program, launched by EK in August, supports the first steps of Finnish companies in Ukraine’s reconstruction by providing practical advice, market research services, and partner search both in Finland and Ukraine. The project aims to involve more than 200 Finnish firms in Ukraine’s reconstruction efforts over the next two years.

Feedback from both the Export Barometer and the Pro Ukraina program indicates that Finnish companies are now alert to these opportunities, according to EK’s Director Petri Vuorio:

“It is essential that Finland and Finnish companies keep pace with our key peer countries. Denmark is a European frontrunner in Ukraine’s reconstruction, operating there with hundreds of companies and already boasting €1 billion in export deals in the pipeline.”

Vuorio highlights that Denmark’s strengths include not only the boldness of its companies but also highly effective export promotion and financing services—an example Finland should look to emulate.

“Finland can still catch up, provided companies proactively explore the market and we are able to offer competitive financing instruments for upcoming projects. Strengthening national export and development finance solutions, and making the most of EU risk-sharing mechanisms, are crucial.”

The EK Export Barometer responses were responded by 348 export companies between 17 August and 1 September 2025.