integration with Western Europe- Finland was one of the 12 countries joining the European Economic
and Monetary Union (EMU) - will dominate the economic picture over
the next several years. Growth in 2003 was held back by the global
slowdown but picked up in 2004. High unemployment remains a
persistent problem.
GDP (purchasing power parity):
$151.2 billion (2004 est.)
GDP - real growth rate:
3% (2004 est.)
GDP - per capita:
purchasing power parity - $29,000 (2004 est.)
GDP - composition by sector: agriculture: 3.3% industry: 30.2% services: 66.5% (2004 est.)
Labor force: 2.66 million (2004 est.)
Labor force - by occupation: agriculture and forestry 8%, industry 22%, construction 6%, commerce 14%, finance, insurance, and business services 10%, transport and communications 8%, public services 32%
Unemployment rate:
8.9% (2004 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:
25.6 (1991)
Inflation rate (consumer prices):
0.7% (2004 est.)
Investment (gross fixed):
18.3% of GDP (2004 est.)
Budget:
revenues: $96.43 billion
expenditures: $91.95 billion, including capital expenditures of NA
(2004 est.)
Public debt:
46.8% of GDP (2004 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:
2% (2004 est.)
Electricity - production:
71.59 billion kWh (2002)
Electricity - production by source: fossil fuel: 39% hydro: 18.7% nuclear: 30.4% other: 11.8% (2001)
Electricity - consumption:
78.58 billion kWh (2002)
Electricity - exports:
1.5 billion kWh (2002)
Electricity - imports:
13.5 billion kWh (2002)
Oil - production:
0 bbl/day (2001 est.)
Oil - consumption:
211,400 bbl/day (2001 est.)
Oil - exports:
101,000 bbl/day (2001)
Oil - imports:
318,300 bbl/day (2001)
Natural gas - production:
0 cu m (2001 est.)
Natural gas - consumption:
4.557 billion cu m (2001 est.)
Natural gas - exports:
0 cu m (2001 est.)
Natural gas - imports:
4.567 billion cu m (2001 est.)
Current account balance:
$11.39 billion (2004 est.)
Exports:
$61.04 billion f.o.b. (2004 est.)
Exports - commodities:
machinery and equipment, chemicals, metals; timber, paper, pulp
(1999)
Exports - partners:
Sweden 11.1%, Germany 10.7%, Russia 8.9%, UK 7%, US 6.4%,
Netherlands 5.1% (2004)
Imports:
$45.17 billion f.o.b. (2004 est.)
Imports - commodities:
foodstuffs, petroleum and petroleum products, chemicals, transport
equipment, iron and steel, machinery, textile yarn and fabrics,
grains (1999)
Imports - partners:
Germany 16.2%, Sweden 14.3%, Russia 12.8%, Netherlands 6.3%,
Denmark 5.2%, UK 4.6%, France 4.3% (2004)
Reserves of foreign exchange and gold:
$11.17 billion (2003)
Debt - external:
$30 billion (December 1993)
Economic aid - donor:
ODA, $379 million (2001)
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
Currency code:
EUR
