Economy - overview:
Finland has a highly industrialized, largely free-market economy with per capita GDP almost as high as that of Austria, Belgium, the Netherlands, or Sweden. Trade is important, with exports accounting for over one-third of GDP in recent years.Finland is historically competitive in manufacturing - principally the wood, metals, engineering, telecommunications, and electronics industries. Finland excels in export of technology for mobile phones as well as promotion of startups in the ICT, gaming, cleantech, and biotechnology sectors. 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 industry, provides a secondary occupation for the rural population.Finland had been one of the best performing economies within the EU before 2009 and its banks and financial markets avoided the worst of global financial crisis. However, the world slowdown hit exports and domestic demand hard in that year, causing Finland’s economy to contract from 2012-14 . The recession affected general government finances and the debt ratio.Finland's main challenges will be reducing high labor costs and boosting demand for its exports. In the long term, Finland must address a rapidly aging population and decreasing productivity in traditional industries that threaten competitiveness, fiscal sustainability, and economic growth. The depreciating ruble and Russia’s general economic slowdown will dampen exports to Russia.

GDP (purchasing power parity):
$224.7 billion (2015 est.) $223.8 billion (2014 est.) $224.7 billion (2013 est.)
note: data are in 2015 US dollars
country comparison to the world: 63
[see also: GDP country ranks ]

GDP (official exchange rate):
$230.7 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
0.4% (2015 est.) -0.4% (2014 est.) -1.1% (2013 est.)
country comparison to the world: 195
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$41,200 (2015 est.) $41,100 (2014 est.) $41,200 (2013 est.)
note: data are in 2015 US dollars
country comparison to the world: 39
[see also: GDP - per capita country ranks ]

Gross national saving:
19.2% of GDP (2015 est.) 18.7% of GDP (2014 est.) 19.3% of GDP (2013 est.)
country comparison to the world: 89
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 53.8%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 23.9%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 19.7%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 1.4%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 36.1%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -34.9% (2015 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 2.9%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 26.9%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 70.2% (2015 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

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:
1.6% (2015 est.)
country comparison to the world: 128
[see also: Industrial production growth rate country ranks ]

Labor force:
2.673 million (2015 est.)
country comparison to the world: 110
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture and forestry: 4.4%
industry: 15.5%
[see also: Labor force - by occupation - industry country ranks ]
construction: 7.1%
commerce: 21.3%
finance, insurance, and business services: 13.3%
transport and communications: 9.9%
public services: 28.5% (2011)

Unemployment rate:
9.4% (2015 est.) 8.7% (2014 est.)
country comparison to the world: 109
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
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 ]

Distribution of family income - Gini index:
26.8 (2008) 25.6 (1991)
country comparison to the world: 133
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $131.4 billion
[see also: Budget revenues country ranks ]
expenditures: $137.3 billion
[see also: Budget expenditures country ranks ]
note: Central Government Budget (2015 est.)

Taxes and other revenues:
57% of GDP (2015 est.)
country comparison to the world: 7
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-2.5% of GDP (2015 est.)
country comparison to the world: 89
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
61.2% of GDP (2015 est.) 59.3% of GDP (2014 est.)
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
country comparison to the world: 58
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
-0.2% (2015 est.) 1.2% (2014 est.)
country comparison to the world: 29
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
0.05% (31 December 2013) 0.3% (31 December 2010)
note: this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro area
country comparison to the world: 152
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
1.9% (31 December 2015 est.) 2.21% (31 December 2014 est.)
country comparison to the world: 180
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$121.3 billion (31 December 2015 est.) $118.8 billion (31 December 2014 est.)
note: see entry for the European Union for money supply for the entire euro area; the European Central Bank (ECB) controls monetary policy for the 18 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
country comparison to the world: 30
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$179.8 billion (31 December 2014 est.) $195.3 billion (31 December 2013 est.)
country comparison to the world: 43
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$404.7 billion (31 December 2015 est.) $410.1 billion (31 December 2014 est.)
country comparison to the world: 28
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$158.7 billion (31 December 2012 est.) $143.1 billion (31 December 2011) $118.2 billion (31 December 2010 est.)
country comparison to the world: 38
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$2.443 billion (2015 est.) -$5.083 billion (2014 est.)
country comparison to the world: 150
[see also: Current account balance country ranks ]

Exports:
$66.9 billion (2015 est.) $79.2 billion (2014 est.)
country comparison to the world: 43
[see also: Exports country ranks ]

Exports - commodities:
electrical and optical equipment, machinery, transport equipment, paper and pulp, chemicals, basic metals; timber

Exports - partners:
Germany 12.2%, Sweden 11.2%, Russia 8.1%, US 6.7%, Netherlands 6.2%, UK 5.5%, China 4.5% (2014)

Imports:
$58.05 billion (2015 est.) $72.94 billion (2014 est.)
country comparison to the world: 46
[see also: Imports country ranks ]

Imports - commodities:
foodstuffs, petroleum and petroleum products, chemicals, transport equipment, iron and steel, machinery, computers, electronic industry products, textile yarn and fabrics, grains

Imports - partners:
Sweden 15.8%, Germany 15.3%, Russia 14.8%, Netherlands 8.7%, Denmark 4.2% (2014)

Reserves of foreign exchange and gold:
$11.1 billion (31 December 2015 est.) $10.67 billion (31 December 2014 est.)
country comparison to the world: 76
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$547.5 billion (31 December 2014 est.) $571.8 billion (31 December 2013 est.)
country comparison to the world: 24
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$139.7 billion (31 December 2015 est.) $138 billion (31 December 2014 est.)
country comparison to the world: 39
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$208.3 billion (31 December 2015 est.) $202.2 billion (31 December 2014 est.)
country comparison to the world: 26
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
euros (EUR) per US dollar - 0.89 (2015 est.) 0.75 (2014 est.) 0.76 (2013 est.) 0.78 (2012 est.) 0.72 (2011 est.)