The findings demonstrate that regional Nordic trade contains significant hidden exposure to non-European markets. On average, 11% of intermediate imports from Nordic neighbors originate from outside Europe at the second tier. A substantial portion of this non-European exposure is concentrated in China (27.1%) and other BRICS+ countries (16.3%), representing a vulnerability that standard trade statistics, based on only direct trade, fail to capture. The methodology provides a framework for future pan-European value chain analysis.
