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    Finland Index 2006

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    Finland Economy - 2006
    https://theodora.com/wfbcurrent/finland/finland_economy.html
    SOURCE: 2006 CIA WORLD FACTBOOK

      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. Rapidly increasing 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. High unemployment remains a persistent problem.

      GDP (purchasing power parity):
      $159.7 billion (2005 est.)

      GDP (official exchange rate):
      $187.5 billion (2005 est.)

      GDP - real growth rate:
      2.2% (2005 est.)

      GDP - per capita (PPP):
      $30,600 (2005 est.)

      GDP - composition by sector:
      agriculture: 3.1%
      industry: 30.4%
      services: 66.5% (2005 est.)

      Labor force:
      2.61 million (2005 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:
      7.9% (2005 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):
      1.2% (2005 est.)

      Investment (gross fixed):
      19.4% of GDP (2005 est.)

      Budget:
      revenues: $99.61 billion
      expenditures: $97.14 billion; including capital expenditures of $NA (2005 est.)

      Public debt:
      42% of GDP (2005 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% (2005 est.)

      Electricity - production:
      79.61 billion kWh (2003)

      Electricity - consumption:
      78.94 billion kWh (2003)

      Electricity - exports:
      7 billion kWh (2003)

      Electricity - imports:
      11.9 billion kWh (2003)

      Oil - production:
      9,013 bbl/day (2003 est.)

      Oil - consumption:
      219,700 bbl/day (2003 est.)

      Oil - exports:
      101,000 bbl/day (2001)

      Oil - imports:
      318,300 bbl/day (2001)

      Natural gas - production:
      0 cu m (2003 est.)

      Natural gas - consumption:
      5.028 billion cu m (2003 est.)

      Natural gas - exports:
      0 cu m (2001 est.)

      Natural gas - imports:
      4.567 billion cu m (2001 est.)

      Current account balance:
      $5.858 billion (2005 est.)

      Exports:
      $67.88 billion f.o.b. (2005 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:
      $56.45 billion f.o.b. (2005 est.)

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

      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:
      $13.01 billion (2004 est.)

      Debt - external:
      $211.7 billion (30 June 2005)

      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

      Exchange rates:
      euros per US dollar - 0.8041 (2005), 0.8054 (2004), 0.886 (2003), 1.0626 (2002), 1.1175 (2001)

      Fiscal year:
      calendar year


      NOTE: The information regarding Finland on this page is re-published from the 2006 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Finland Economy 2006 information contained here. All suggestions for corrections of any errors about Finland Economy 2006 should be addressed to the CIA.

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    https://theodora.com/wfbcurrent/finland/finland_economy.html

    Revised 06-Jun-06
    Copyright © 2006 Photius Coutsoukis (all rights reserved)


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