Finland:
Economy

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Other pages in this profile of Finland:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.


Economy - overview	Finland has a highly industrialized, largely free-market economy with per capita output roughly that of the UK, France, Germany, and Italy. Its key economic sector is manufacturing - principally the wood, metals, engineering, telecommunications, and electronics industries. Trade is important; exports equal two-fifths of GDP. Finland excels in high-tech exports, e.g., 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. High unemployment remains a persistent problem.
GDP (purchasing power parity)	$175.2 billion (2006 est.)
GDP (official exchange rate)	$197.9 billion (2006 est.)
GDP - real growth rate	4.9% (2006 est.)
GDP - per capita	$33,500 (2006 est.)
GDP - composition by sector	agriculture: 2.5% industry: 32.3% services: 65.1% (2006 est.)
Labor force	2.65 million (2006 est.)
Labor force - by occupation	agriculture and forestry 4.4%, industry 17.5%, construction 6%, commerce 22%, finance, insurance, and business services 12%, transport and communications 8%, public services 30.2% (2000 est.)
Unemployment rate	7% (2006 est.)
Population below poverty line	NA%
Household income or consumption by percentage share	lowest 10%: 4% highest 10%: 22.6% (2000)
Distribution of family income - Gini index	26.9 (2000)
Inflation rate (consumer prices)	1.6% (2006 est.)
Investment (gross fixed)	19.1% of GDP (2006 est.)
Budget	revenues: $109.6 billion expenditures: $101.8 billion (2006 est.)
Public debt	38.9% of GDP (2006 est.)
Agriculture - products	barley, wheat, sugar beets, potatoes; dairy cattle; fish
Industries	metals and metal products, electronics, machinery and scientific instruments, shipbuilding, pulp and paper, foodstuffs, chemicals, textiles, clothing
Electricity - production	67.09 billion kWh (2005)
Electricity - consumption	81.11 billion kWh (2005)
Electricity - exports	933 million kWh (2005)
Electricity - imports	17.92 billion kWh (2005)
Oil - production	9,105 bbl/day (2004 est.)
Oil - consumption	220,400 bbl/day (2004 est.)
Oil - exports	118,300 bbl/day (2004)
Oil - imports	333,400 bbl/day (2004)
Oil - proved reserves	0 bbl (1 January 2006)
Natural Gas - production	0 cu m (2005 est.)
Natural Gas - consumption	4.244 billion cu m (2005 est.)
Natural Gas - exports	0 cu m (2005 est.)
Natural Gas - imports	4.245 billion cu m (2005)
Current account balance	$12.21 billion (2006 est.)
Exports	$77.52 billion f.o.b. (2006 est.)
Exports - commodities	machinery and equipment, chemicals, metals; timber, paper, pulp (1999)
Exports - partners	Germany 11.3%, Sweden 10.5%, Russia 10.1%, UK 6.5%, US 6.5%, Netherlands 5.1% (2006)
Imports	$66.1 billion f.o.b. (2006 est.)
Imports - commodities	foodstuffs, petroleum and petroleum products, chemicals, transport equipment, iron and steel, machinery, textile yarn and fabrics, grains
Imports - partners	Germany 15.6%, Russia 14%, Sweden 13.7%, Netherlands 6.6%, China 5.4%, UK 4.7%, Denmark 4.5% (2006)
Reserves of foreign exchange and gold	$7.499 billion (2006 est.)
Debt - external	$251.9 billion (30 June 2006)
Economic aid - donor	ODA, $850.5 million (2005)
Currency (code)	euro (EUR) note: on 1 January 1999, the European Monetary Union introduced the euro as a common currency to be used by financial institutions of member countries; on 1 January 2002, the euro became the sole currency for everyday transactions within the member countries
Exchange rates	euros per US dollar - 0.7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.886 (2003), 1.0626 (2002)
Fiscal year	calendar year

Finland: Economy

Finland:
Economy