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, with exports equaling more
than one-third of GDP. 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. The economy has come back from the recession
of 1990-92, which had been caused by economic overheating, depressed
foreign markets, and the dismantling of the barter system between
Finland and the former Soviet Union. Rapidly increasing integration
with Western Europe - Finland was one of the 11 countries joining the
euro monetary system (EMU) on 1 January 1999 - will dominate the
economic picture over the next several years. Growth in 2000 will
probably be at the same level as in 1999, enough to continue the
decline in unemployment from its current high level.

purchasing power parity - $108.6 billion (1999 est.)

3.5% (1999 est.)

purchasing power parity - $21,000 (1999 est.)

agriculture: 5%
industry: 32%
services: 63% (1997)

NA%

lowest 10%: 4.2%
highest 10%: 21.6% (1991)

1% (1999 est.)

2.533 million

public services 32%, industry 22%,
commerce 14%, finance, insurance, and business services 10%,
agriculture and forestry 8%, transport and communications 8%,
construction 6%

10% (1999 est.)

revenues: $41 billion
expenditures: $41 billion, including capital expenditures of $NA (1997
est.)

metal products, shipbuilding, pulp and paper, copper
refining, foodstuffs, chemicals, textiles, clothing

4.8% (1999)

75.299 billion kWh (1998)

fossil fuel: 41.62%
hydro: 19.59%
nuclear: 27.59%
other: 11.2% (1998)

79.278 billion kWh (1998)

300 million kWh (1998)

9.55 billion kWh (1998)

cereals, sugar beets, potatoes; dairy cattle;
fish

$43 billion (f.o.b., 1998)

machinery and equipment, chemicals, metals;
timber, paper, and pulp

EU 56% (Germany 12%, UK 9%, Sweden 9%, France 5%),
US 7%, Russia 6%, Japan (1998)

$30.7 billion (f.o.b., 1998)

foodstuffs, petroleum and petroleum products,
chemicals, transport equipment, iron and steel, machinery, textile
yarn and fabrics, fodder grains

EU 60% (Germany 15%, Sweden 12%, UK 7%), US 8%,
Russia 7%, Japan 6% (1998)

$30 billion (December 1993)

ODA, $379 million (1997)

1 markka (FMk) or Finmark = 100 pennia

euros per US$1 - 0.9867 (January 2000), 0.9386 (1999);
markkaa (FMk) per US$1 - 5.3441 (1998), 5.1914 (1997), 4.5936 (1996),
4.3667 (1995)
note: on 1 January 1999, the EU introduced a common currency that is
now being used by financial institutions in some member countries at a
fixed rate of 5.94573 markkaa per euro; the euro will replace the
local currency in consenting countries for all transactions in 2002

calendar year