The 2010 CIA World Factbook. United States. Central Intelligence Agency
National anthem:
name: "Maamme" (Our Land)
lyrics/music: Johan Ludvig RUNEBERG/Fredrik PACIUS
note: in use since 1848; although never officially adopted by law, the anthem has been popular since it was first sung by a student group in 1848; Estonia's anthem uses the same melody as that of Finland
Economy ::Finland
Economy - overview:
Finland has a highly industrialized, largely free-market economy with per capita output roughly that of Austria, Belgium, the Netherlands, and Sweden. Trade is important with exports accounting for over one third of GDP in recent years. Finland is strongly competitive in manufacturing - principally the wood, metals, engineering, telecommunications, and electronics industries. Finland excels in high-tech exports such as 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. Finland had been one of the best performing economies within the EU in recent years and its banks and financial markets avoided the worst of global financial crisis. However, the world slowdown hit exports and domestic demand hard in 2009, with Finland experiencing one of the deepest contractions in the euro zone. A recovery of exports stimulated economic growth in 2010, and led to a lowering of unemployment. The recession left a deep mark on general government finances and the debt ratio, turning previously strong budget surpluses into deficits. In the next few years, the great challenge of economic policy will be to implement a post-recession exit strategy in which measures supporting growth will be combined with general government adjustment measures. Longer-term, Finland must address a rapidly aging population and decreasing productivity that threaten competitiveness, fiscal sustainability, and economic growth.
GDP (purchasing power parity):
$185.4 billion (2010 est.) country comparison to the world: 56 $181.6 billion (2009 est.)
$197.6 billion (2008 est.)
note: data are in 2010 US dollars
GDP (official exchange rate):
$232 billion (2010 est.)
GDP - real growth rate:
2.1% (2010 est.) country comparison to the world: 144 −8.1% (2009 est.)
1% (2008 est.)
GDP - per capita (PPP):
$35,300 (2010 est.) country comparison to the world: 34 $34,600 (2009 est.)
$37,700 (2008 est.)
note: data are in 2010 US dollars
GDP - composition by sector:
agriculture: 2.6%
industry: 29.1%
services: 68.2% (2010 est.)
Labor force:
2.68 million (2010 est.) country comparison to the world: 106
Labor force - by occupation:
agriculture and forestry: 4.5%
industry: 18.2%
construction: 7.3%
commerce: 15.9%
finance, insurance, and business services: 14.5%
transport and communications: 6.9%
public services: 32.7% (2008)
Unemployment rate:
7.9% (2010 est.) country comparison to the world: 85 8.2% (2009 est.)
Population below poverty line:
NA%
Household income or consumption by percentage share:
lowest 10%: 3.6%
highest 10%: 24.7% (2007)
Distribution of family income - Gini index:
29.5 (2007) country comparison to the world: 115 25.6 (1991)
Investment (gross fixed):
18.7% of GDP (2010 est.) country comparison to the world: 100
Public debt:
45.4% of GDP (2010 est.) country comparison to the world: 59 40.3% of GDP (2009 est.)
Inflation rate (consumer prices):
1.1% (2010 est.) country comparison to the world: 21 0% (2009 est.)
Central bank discount rate:
1.75% (31 December 2009) country comparison to the world: 114 3% (31 December 2008)
note: this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro area
Commercial bank prime lending rate:
3.51% (31 December 2009 est.) country comparison to the world: 141 5.79% (31 December 2008 est.)
Stock of narrow money:
$108 billion (31 December 2010 est) country comparison to the world: 29 $110.4 billion (31 December 2009 est)
note: see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 16 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
Stock of broad money:
$160.4 billion (31 December 2010 est.) country comparison to the world: 44 $168.5 billion (31 December 2009 est.)
Stock of domestic credit:
$259.2 billion (31 December 2009 est.) country comparison to the world: 36 $241.6 billion (31 December 2008 est.)
Market value of publicly traded shares:
$91.02 billion (31 December 2009) country comparison to the world: 27 $154.4 billion (31 December 2008)
$369.2 billion (31 December 2007)
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:
6% (2010 est.) country comparison to the world: 51
Electricity - production:
77.44 billion kWh (2008 est.) country comparison to the world: 38
Electricity - consumption:
87.25 billion kWh (2008) country comparison to the world: 32
Electricity - exports:
3.335 billion kWh (2008)
Electricity - imports:
16.11 billion kWh (2008)
Oil - production:
8,718 bbl/day (2009 est.) country comparison to the world: 86
Oil - consumption:
206,200 bbl/day (2009 est.) country comparison to the world: 55
Oil - exports:
130,500 bbl/day (2009 est.) country comparison to the world: 61
Oil - imports:
337,900 bbl/day (2009 est.) country comparison to the world: