The analysis shows a substantial reliance on imported intermediate goods and raw materials for the Nordic economies, with supply chains deeply anchored within Europe, supplemented by robust intra-Nordic trade. However, this reliance introduces vulnerabilities, defined by high sourcing concentration, extra-European origin, and limited domestic substitution capacity. Significant disparities exist, with Norway and Denmark showing the highest exposure to vulnerable inputs, while Sweden and Iceland demonstrate greater resilience. Crucially, the sources of the most vulnerable inputs dominated by the US for Denmark and Sweden, and China for Finland and Iceland. Large firms are the central actors in each Nordic country, importing the majority of intermediate goods, but also of vulnerable goods.