Finland
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| Introduction - Finland: | | Location - Finland: | | People - Finland: | | Government - Finland: | | Economy - Finland: | 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 | $176.4 billion (2006 est.) | | Gdp official exchange rate | $199 billion (2006 est.) | | Gdp real growth rate | 5.5% (2006 est.) | | Gdp per capita ppp | $33,700 (2006 est.) | | Gdp composition by sector | agriculture: 2.7%
industry: 30.3%
services: 67% (2006 est.) | | Labor force | 2.62 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% | | Unemployment rate | 7% (2006 est.) | | Population below poverty line | NA% | | Household income or consumption by percentage share | lowest 10%: 4.2%
highest 10%: 21.6% (1991) | | Distribution of family income gini index | 26.9 (2000) | | Inflation rate consumer prices | 1.7% (2006 est.) | | Investment gross fixed | 18.9% of GDP (2006 est.) | | Budget | revenues: $105.6 billion
expenditures: $101 billion; including capital expenditures of $NA (2006 est.) | | Public debt | 37.7% 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 | | Industrial production growth rate | 3% (2006 est.) | | Electricity production | 81.6 billion kWh (2004) | | Electricity consumption | 80.79 billion kWh (2004) | | Electricity exports | 6.8 billion kWh (2004) | | Electricity imports | 11.7 billion kWh (2004) | | 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 | | Natural gas production | 0 cu m (2004 est.) | | Natural gas consumption | 4.86 billion cu m (2004 est.) | | Natural gas exports | 0 cu m (2004 est.) | | Natural gas imports | 4.866 billion cu m (2004 est.) | | Current account balance | $8.749 billion (2006 est.) | | Exports | $84.72 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 | $71.69 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 | $6.561 billion (August 2006 est.) | | Economic aid donor | ODA, $850,536,746.4905 (2005) | | Debt external | $251.9 billion (30 June 2006) | | 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) | |
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This page was last updated on 16 September, 2007
Source: CIA >>> |
