| People | Finland |
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Economy - overview:
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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):
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$185.9 billion (2007 est.) |
GDP (official exchange rate):
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$244.9 billion (2007) |
GDP - real growth rate:
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4.4% (2007) |
GDP - per capita (PPP):
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$35,500 (2007 est.) |
GDP - composition by sector:
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agriculture: 2.6%
industry: 32.3%
services: 65.1% (2007 est.) |
Investment (gross fixed):
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19.4% of GDP (2007 est.) |
Population below poverty line:
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NA% |
Household income or consumption by percentage share:
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lowest 10%: 4%
highest 10%: 22.6% (2000) |
Distribution of family income - Gini index:
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26 (2005) |
Inflation rate (consumer prices):
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2.7% (2007 est.) |
Labor force:
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2.68 million (2007 est.) |
Labor force participation rate:
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51.10 % of population |
Labor force - by occupation:
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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:
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6.9% (2007) |
Budget:
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revenues: $62.02 billion
expenditures: $58.16 billion (2007) |
Budget revenues per capita:
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11,826 USD per capita |
Public debt:
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31.3% of GDP (2007) |
Industries:
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metals and metal products, electronics, machinery and scientific instruments, shipbuilding, pulp and paper, foodstuffs, chemicals, textiles, clothing |
Industrial production growth rate:
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4.6% (2007) |
Electricity - production:
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73.47 billion kWh (2007 est.) |
Electricity - production per capita:
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14,009 kWh per capita |
Electricity - consumption:
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88.27 billion kWh (2007 est.) |
Electricity - consumption - per capita:
|
16,831 kWh per capita |
Electricity - exports:
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1.059 billion kWh (2007 est.) |
Electricity - imports:
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15.85 billion kWh (2007 est.) |
Oil - production:
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8,951 bbl/day (2005 est.) |
Oil - production per capita:
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1,707 bbl/day per capita |
Oil - consumption:
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219,700 bbl/day (2005 est.) |
Oil - consumption - per capita:
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15.29 bbl/year per capita |
Oil - exports:
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126,300 bbl/day (January-September 2007 est.) |
Oil - imports:
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281,300 bbl/day (January-September 2007 est.) |
Oil - proved reserves:
|
NA bbl |
Natural gas - production:
|
0 cu m (2007 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
3.909 billion cu m (2007 est.) |
Natural gas - consumption - per capita:
|
746 cu m per capita |
Natural gas - exports:
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0 cu m (2007 est.) |
Natural gas - imports:
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4.123 billion cu m (2007 est.) |
Natural gas - proved reserves:
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0 cu m (1 January 2006) |
Agriculture - products:
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barley, wheat, sugar beets, potatoes; dairy cattle; fish |
Current account balance:
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$11.24 billion (2007) |
Current account balance - per capita:
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2,144 USD per capita |
Exports:
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$104.9 billion f.o.b. (2007) |
Exports per capita:
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20,001 USD per capita |
Exports - commodities:
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machinery and equipment, chemicals, metals; timber, paper, pulp |
Exports - partners:
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Germany 11.3%, Sweden 10.5%, Russia 10.1%, UK 6.5%, US 6.5%, Netherlands 5.1% (2006) |
Imports:
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$81.54 billion f.o.b. (2007) |
Imports per capita:
|
15,547 USD per capita |
Imports - commodities:
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foodstuffs, petroleum and petroleum products, chemicals, transport equipment, iron and steel, machinery, textile yarn and fabrics, grains |
Imports - partners:
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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:
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$7.804 billion (2007) |
Reserves of foreign exchange and gold - per capita:
|
1,488 USD per capita |
Debt - external:
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$271.2 billion (30 June 2007) |
Debt - external - per capita:
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51,709 USD per capita |
Stock of direct foreign investment - at home:
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$66.25 billion (2006) |
Stock of direct foreign investment - abroad:
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$74.81 billion (2006) |
Market value of publicly traded shares:
|
$1.095 trillion (January 2008) |
Economic aid - donor:
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ODA, $1.023 billion (2007) |
Economic aid - recipient:
|
void |
Economic aid - recipient per capita:
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void |
Currency (code):
|
euro (EUR) |
Exchange rates:
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euros per US dollar - 0.7345 (2007), 0.7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.886 (2003) |
Fiscal year:
|
calendar year |
|
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