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Finland:
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Other pages in this profile of Finland:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.
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Economy - overview |
Definition 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 nearly 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. In 2007 Russia announced plans to impose high tariffs on raw timber exported to Finland. The Finnish pulp and paper industry will be threatened if these duties are put into place in 2008 and 2009, and the matter is now being handled by the European Union. |
GDP (purchasing power parity) |
Definition - World rank and map $185.5 billion (2007 est.) |
GDP (official exchange rate) |
Definition $245 billion (2007) |
GDP - real growth rate |
Definition - World rank and map 4.4% (2007) |
GDP - per capita |
Definition - World rank and map $35,300 (2007 est.) |
GDP - composition by sector |
Definition agriculture: 2.6% industry: 31.9% services: 65.6% (2007 est.) |
Labor force |
Definition 2.675 million (2007 est.) |
Labor force - by occupation |
Definition agriculture and forestry 4.4%, industry 18.6%, construction 6%, commerce 16.3%, finance, insurance, and business services 13.9%, transport and communications 7.6%, public services 33.2% (2004) |
Unemployment rate |
Definition - World rank and map 6.8% (2007 est.) |
Population below poverty line |
Definition NA% |
Household income or consumption by percentage share |
Definition lowest 10%: 4% highest 10%: 22.6% (2000) |
Distribution of family income - Gini index |
Definition - World rank and map 26 (2005) |
Inflation rate (consumer prices) |
Definition - World rank and map 1.6% (2007 est.) |
Investment (gross fixed) |
Definition - World rank and map 20.3% of GDP (2007 est.) |
Budget |
Definition revenues: $62.02 billion expenditures: $58.16 billion (2007) |
Public debt |
Definition - World rank and map 31.3% of GDP (2007) |
Agriculture - products |
Definition barley, wheat, sugar beets, potatoes; dairy cattle; fish |
Industries |
Definition metals and metal products, electronics, machinery and scientific instruments, shipbuilding, pulp and paper, foodstuffs, chemicals, textiles, clothing |
Industrial production growth rate |
Definition - World rank and map 4.6% (2007) |
Electricity - production |
Definition - World rank and map 73.47 billion kWh (2007 est.) |
Electricity - consumption |
Definition - World rank and map 88.27 billion kWh (2007 est.) |
Electricity - consumption per capita |
Definition - World rank and map 16,830.2 kWh (2007 est.) |
Electricity - exports |
Definition 1.059 billion kWh (2007 est.) |
Electricity - imports |
Definition 15.85 billion kWh (2007 est.) |
Oil - production |
Definition - World rank and map 8,951 bbl/day (2005 est.) |
Oil - consumption |
Definition - World rank and map 219,700 bbl/day (2005 est.) |
Oil - consumption per 1,000 people |
Definition - World rank and map 41.9 bbl/day (2005 est.) |
Oil - exports |
Definition - World rank and map 126,300 bbl/day (January-September 2007 est.) |
Oil - imports |
Definition - World rank and map 281,300 bbl/day (January-September 2007 est.) |
Oil - proved reserves |
Definition - World rank and map NA bbl |
Natural gas - production |
Definition - World rank and map 0 cu m (2007 est.) |
Natural gas - consumption |
Definition - World rank and map 3.909 billion cu m (2007 est.) |
Natural gas - consumption per capita |
Definition - World rank and map 745 cu m (2007 est.) |
Natural gas - exports |
Definition - World rank and map 0 cu m (2007 est.) |
Natural gas - imports |
Definition - World rank and map 4.123 billion cu m (2007 est.) |
Natural gas - proved reserves |
Definition - World rank and map 0 cu m (1 January 2006) |
Current account balance |
Definition - World rank and map $11.27 billion (2007) |
Exports |
Definition - World rank and map $104.9 billion f.o.b. (2007) |
Exports - commodities |
Definition machinery and equipment, chemicals, metals; timber, paper, pulp |
Exports - partners |
Definition Germany 10.9%, Sweden 10.7%, Russia 10.3%, US 6.4%, UK 5.8%, Netherlands 5.6% (2006) |
Imports |
Definition - World rank and map $81.54 billion f.o.b. (2007) |
Imports - commodities |
Definition foodstuffs, petroleum and petroleum products, chemicals, transport equipment, iron and steel, machinery, textile yarn and fabrics, grains |
Imports - partners |
Definition Germany 15.9%, Sweden 13.7%, Russia 13.7%, Netherlands 6.7%, China 5.3%, UK 4.9% (2006) |
Reserves of foreign exchange and gold |
Definition - World rank and map $7.804 billion (2007) |
Debt - external |
Definition - World rank and map $271.2 billion (30 June 2007) |
Stock of direct foreign investment - at home |
Definition $72.94 billion (2007 est.) |
Stock of direct foreign investment - abroad |
Definition $98.89 billion (2007 est.) |
Market value of publicly traded shares |
Definition $209.5 billion (2005) |
Economic aid - donor |
Definition ODA, $1.023 billion (2007) |
Currency (code) |
Definition euro (EUR) |
Exchange rates |
Definition euros per US dollar - 0.7345 (2007), 0.7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.886 (2003) |
Fiscal year |
Definition calendar year |
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