Economy - overview:
Finland has a highly industrialized, largely free-market economy with per capita output roughly that of Austria, Belgium, the Netherlands, and Sweden. Trade is important with exports accounting for over one third of GDP in recent years. Finland is strongly competitive in manufacturing - principally the wood, metals, engineering, telecommunications, and electronics industries. Finland excels in high-tech exports such as mobile phones. Except for timber and several minerals, Finland depends on imports of raw materials, energy, and some components for manufactured goods. Because of the climate, agricultural development is limited to maintaining self-sufficiency in basic products. Forestry, an important export earner, provides a secondary occupation for the rural population. Finland had been one of the best performing economies within the EU in recent years and its banks and financial markets avoided the worst of global financial crisis. However, the world slowdown hit exports and domestic demand hard in 2009, with Finland experiencing one of the deepest contractions in the euro zone. A recovery of exports, domestic trade, and household consumption stimulated economic growth in 2010. The recession left a deep mark on general government finances and the debt ratio, turning previously strong budget surpluses into deficits. In addition to marginal growth prospects, general government finances will remain in deficit during the next few years. The great challenge of economic policy will be to mitigate a possible recession in 2012 in which measures supporting growth will be combined with general government adjustment measures. Longer-term, Finland must address a rapidly aging population and decreasing productivity that threaten competitiveness, fiscal sustainability, and economic growth.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Investment (gross fixed): Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
NOTE: 1) The information regarding Finland on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Finland Economy 2012 information contained here. All suggestions for corrections of any errors about Finland Economy 2012 should be addressed to the CIA.
$195.6 billion (2011 est.)
country comparison to the world: 56
note: data are in 2011 US dollars
[see also: GDP country ranks ]
$270.6 billion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]
2.7% (2011 est.)
country comparison to the world: 131
[see also: GDP - real growth rate country ranks ]
$38,300 (2011 est.)
country comparison to the world: 25
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 2.8%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 29.2%
[see also: GDP - composition by sector - industry country ranks ]
services: 68% (2011 est.)
[see also: GDP - composition by sector - services country ranks ]
2.676 million (2011 est.)
country comparison to the world: 106
[see also: Labor force country ranks ]
agriculture and forestry: 4.9%
industry: 16.7%
[see also: Labor force - by occupation - industry country ranks ]
construction: 7.1%
commerce: 19.4%
finance, insurance, and business services: 12.8%
transport and communications: 6.3%
public services: 32.8% (2009)
7.7% (2011 est.)
country comparison to the world: 89
[see also: Unemployment rate country ranks ]
NA%
[see also: Population below poverty line country ranks ]
lowest 10%: 3.6%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 24.7% (2007)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
26.8 (2008)
country comparison to the world: 130
[see also: Distribution of family income - Gini index country ranks ]
19.4% of GDP (2011 est.)
country comparison to the world: 125
[see also: Investment (gross fixed) country ranks ]
revenues: $141.7 billion
[see also: Budget revenues country ranks ]
expenditures: $146.3 billion
[see also: Budget expenditures country ranks ]
note: Central Government Budget (2011 est.)
52.4% of GDP (2011 est.)
country comparison to the world: 13
[see also: Taxes and other revenues country ranks ]
-1.7% of GDP (2011 est.)
country comparison to the world: 70
[see also: Budget surplus (+) or deficit (-) country ranks ]
49% of GDP (2011 est.)
country comparison to the world: 53
note: data cover general Government Debt, and includes debt instruments issued (or owned) by Government entities other than the treasury; the data include treasury debt held by foreign entities; the data include debt issued by subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment. Debt instruments for the social funds are not sold at public auctions.
[see also: Public debt country ranks ]
3.3% (2011 est.)
country comparison to the world: 63
[see also: Inflation rate (consumer prices) country ranks ]
1.75% (31 December 2010)
country comparison to the world: 117
note: this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro area
[see also: Central bank discount rate country ranks ]
2.7% (31 December 2011 est.)
country comparison to the world: 187
[see also: Commercial bank prime lending rate country ranks ]
$124 billion (31 December 2011 est.)
country comparison to the world: 30
note: see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 17 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders
[see also: Stock of narrow money country ranks ]
$188.2 billion (31 December 2011 est.)
country comparison to the world: 42
[see also: Stock of broad money country ranks ]
$260.5 billion (31 December 2011 est.)
country comparison to the world: 37
[see also: Stock of domestic credit country ranks ]
$118.2 billion (31 December 2010)
country comparison to the world: 43
[see also: Market value of publicly traded shares country ranks ]
barley, wheat, sugar beets, potatoes; dairy cattle; fish
metals and metal products, electronics, machinery and scientific instruments, shipbuilding, pulp and paper, foodstuffs, chemicals, textiles, clothing
4% (2011 est.)
country comparison to the world: 85
[see also: Industrial production growth rate country ranks ]
67.94 billion kWh (2009 est.)
country comparison to the world: 39
[see also: Electricity - production country ranks ]
83.09 billion kWh (2008 est.)
country comparison to the world: 36
[see also: Electricity - consumption country ranks ]
3.375 billion kWh (2009 est.)
[see also: Electricity - exports country ranks ]
12.09 billion kWh (2009 est.)
[see also: Electricity - imports country ranks ]
8,718 bbl/day (2010 est.)
country comparison to the world: 88
[see also: Oil - production country ranks ]
217,400 bbl/day (2010 est.)
country comparison to the world: 54
[see also: Oil - consumption country ranks ]
133,600 bbl/day (2009 est.)
country comparison to the world: 60
[see also: Oil - exports country ranks ]
318,100 bbl/day (2009 est.)
country comparison to the world: 33
[see also: Oil - imports country ranks ]
0 cu m (2010 est.)
country comparison to the world: 181
[see also: Natural gas - production country ranks ]
4.782 billion cu m (2010 est.)
country comparison to the world: 62
[see also: Natural gas - consumption country ranks ]
0 cu m (2010 est.)
country comparison to the world: 96
[see also: Natural gas - exports country ranks ]
4.782 billion cu m (2010 est.)
country comparison to the world: 35
[see also: Natural gas - imports country ranks ]
0 cu m (1 January 2011 est.)
country comparison to the world: 135
[see also: Natural gas - proved reserves country ranks ]
$4.2 billion (2011 est.)
country comparison to the world: 37
[see also: Current account balance country ranks ]
$85.4 billion (2011 est.)
country comparison to the world: 46
[see also: Exports country ranks ]
electrical and optical equipment, machinery, transport equipment, paper and pulp, chemicals, basic metals; timber
Sweden 11.6%, Germany 10.2%, Russia 8.5%, US 7%, Netherlands 6.9%, China 5%, UK 4.9% (2010)
$80.79 billion (2011 est.)
country comparison to the world: 39
[see also: Imports country ranks ]
foodstuffs, petroleum and petroleum products, chemicals, transport equipment, iron and steel, machinery, textile yarn and fabrics, grains
Russia 17.4%, Germany 14.7%, Sweden 14.5%, Netherlands 8.2%, China 4.4% (2010)
$10.3 billion (31 December 2011 est.)
country comparison to the world: 72
[see also: Reserves of foreign exchange and gold country ranks ]
$518 billion (30 June 2011)
country comparison to the world: 25
[see also: Debt - external country ranks ]
$87.59 billion (31 December 2011 est.)
country comparison to the world: 41
[see also: Stock of direct foreign investment - at home country ranks ]
$137.4 billion (31 December 2011 est.)
country comparison to the world: 24
[see also: Stock of direct foreign investment - abroad country ranks ]
euros (EUR) per US dollar -
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order
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This page was last modified 07-Mar-12