Finland GDP Data & Country Report

Finland Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Finland; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION

Central bank

Bank of Finland
Finland is part of the Eurosystem and the European Central Bank

International Reserves

US$ 10.748 billion (Source: IMF; Data updated: November 2011)

Gross Domestic Product - GDP

US$ 260.382 billion (2010 estimate)

GDP (Purchasing Power Parity)

193.903 billion of International dollars (2010 estimate)

Real GDP growth

2000	2001	2002	2003	2004	2005	2006	2007
5.3%	2.3%	1.8%	2%	4.1%	2.9%	4.4%	5.3%
2008	2009	2010	2011*
0.9%	-8.2%	3.1%	3.1%

*Estimate

GDP per capita - current prices

US$ 48,188 (2009 estimate)

GDP per capita - PPP

$35,885 International Dollars (2009 estimate)

GDP (PPP) - share of world total

1980	1990	2000	2010	2015**
0.36%	0.36%	0.3%	0.25%	0.22%

**Forecast

GDP - composition by sector

agriculture: 2.8%
industry: 29.2%
services: 68% (2011 estimate)

(Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP)

4.01% (2009)

(Data released on November 2010)

Inflation

2008	2009	2010	2011*
3.9%(2008)	1.6%	1.7%	3%

*Estimate

Unemployment rate

2008	2009	2010	2011*
6.4%	8.3%	8.4%(2009)	8%

*Estimate

Household saving rates

3% (Net saving; 2011 forecast)

(Data released on November 2010)

Public debt (General government gross debt as a % of GDP)

2007	2008	2009	2010	2011*
35.2%	34.7%	43.8%	48.4%	50.8%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)

2007	2008	2009	2010*	2011**
5.2%	4.2%	-2.4%	-3.4%	-1.8%

*Estimate **Forecast

Government bond ratings

Standard & Poor's: AAA/Stable/A-1+

Moody's rating: Aaa

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Nov 2010)

Market value of publicly traded shares

2007	2008	2009
US$369.168 billion	US$154.367 billion	US$91.021 billion

Largest companies in Finland

Nokia (Communications Equipment), Fortum, (Electric Utilities), Sampo (Diversified Insurance), Stora Enso (Paper & Paper Products), UPM-Kymmene (Paper & Paper Products)
(2011)

DATA ON TRADE AND COMPETITIVENESS

Current account balance

US$ 7.2 billion (2010 estimate)(After 2008)

Current account balance by percentage of GDP

2.8% of GDP (2010 estimate)(2009)

Exports as percent of GDP

(Exports of goods and services)

44.6% (2008)

(Data released on December 2010)

Shares in world total merchandising export

0.46%(2007)

(Data were released in Nov 2011 and refer to 2010)

Shares in world total commercial services export

0.63%(2007)

(Data were released in Nov 2011 and refer to 2010)

Total exports

US$73.53 billion f.o.b. (2010 estimate)

Export commodities

electrical and optical equipment, machinery, transport equipment, paper and pulp, chemicals, basic metals

Total imports

US$93.28 billion f.o.b. (2008 estimate)

Import commodities

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

Exports - major partners

Germany 10.9%, Sweden 10.7%, Russia 10.3%, US 6.4%, UK 5.8%, Netherlands 5.6% (2007)

Imports - major partners

Germany 15.8%, Russia 14%, Sweden 13.7%, Netherlands 6.8%, China 5.5%, UK 4.9% (2007)

FDI inflows

2008	2009	2010
US$-1,035 million	US$-4 million(2009)	US$4,314 million(2009)

FDI outflows

2008	2009	2010
US$9,297 million	US$3,831 million	US$8,385 million

Value of cross-border M&A, by country of purchaser

2008	2009	2010	2011
US$13,179 million	US$653 million(2009)	US$391 million(2009)	US$1,014 million

Cross-border M&A deals worth over $3 billion completed in 2008

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

Nokia Oyj, NAVTEQ Corp, United States, $8.0 billion
Fortum Oyj, Territorial Generation Co No 10{TGC-10}, Russian Federation, $3.2 billion

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 – 183. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 13 out of 183 countries(2009) (2010)

Subcategories:

Starting a business: 32 out of 183 countries(2009)

Registering property: 26 out of 183 countries

Paying Taxes: 65 out of 183 countries

Getting credit: 32 out of 183 countries

Protecting investors: 59 out of 183 countries

Trading across border: 6 out of 183 countries

Enforcing Contracts: 11 out of 183 countries

(2010)

Global competitiveness ranking
(ranking by country on a basis of 142, the first is the best)

(2011/2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 17 Score: 74 (Mostly Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW

Time zone

UTC+2

Total area

338,145 km² (2006)

Capital

Helsinki (2009)

Currency

euros (EUR) (2009)

Government type

republic (2009)

Languages

Finnish 91.2% (official), Swedish 5.5% (official), other 3.3% (small Sami- and Russian-speaking minorities) (2007)

Religions

Lutheran Church of Finland 82.5%, Orthodox Church 1.1%, other Christian 1.1%, other 0.1%, none 15.1% (2006)

Total population

1980	1990	2000	2010*	2015**
4.79 million	5 million	5.18 million	5.38 million	5.51 million

*Estimate **Forecast

Urban population as % of total population

1960	1980	2000	2009
38.1%	59.8%	61.1%	63.6%

Population median age

41.0 years (2006)

Population growth rate

0.5% (2009)

Life expectancy

79 years (2007)

Adult literacy

N/A

% of population living on less than $2 a day

N/A

Inequality of wealth distribution (Gini index)

26.9 (2000)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:1
Civil Liberties:1 (2010)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

179.7% (2010)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population

86.89% (Data were released in 2011 and refer to 2010)

Cost of living index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Helsinki: 42nd (2011)

CO2 emissions
(Metric tons of CO2 per capita)

10.6537 (2008)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST TREASURY & CASH MANAGEMENT BANKS & PROVIDERS

2012:

Best Treasury Management Systems & Services Providers / Electronic Invoice Presentment and Payment Services Basware (Nordic Region, 2012)

2011:

Best Treasury Management Systems & Services Providers / Electronic Invoice Presentment and Payment Services Basware (Nordic Region, 2011)

2010:

Best Treasury Management Systems & Services Providers / Electronic Invoice Presentment and Payment Services Basware (Global, 2010)

WORLD'S BEST TRADE FINANCE BANKS & PROVIDERS

2012:

COUNTRY WINNERS Nordea (National, 2012)

2011:

COUNTRY WINNERS Nordea (National, 2011)

2010:

COUNTRY WINNERS Nordea (National, 2010)

2009:

COUNTRY WINNERS Nordea (2009)

WORLD'S BEST DEVELOPED MARKET BANKS

2012:

Nordea (National, 2012)

2011:

Nordea (National, 2011)

2010:

Nordea (National, 2010)

2009:

Pohjola Bank (Europe, 2009)

WORLD'S BEST INTERNET BANKS

2010:

COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2010)

2009:

COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (2009)

WORLD'S SAFEST BANKS

2012:

OVERALL SAFEST Pohjola Bank (Global, 2012)

2011:

OVERALL SAFEST Pohjola Bank (Global, 2011)

2010:

OVERALL SAFEST Pohjola Bank (Global, 2010)

2009:

OVERALL SAFEST Pohjola Bank (Global, 2009)

WORLD'S BEST SUB CUSTODIANS

2011:

COUNTRY WINNERS Nordea (National, 2011)

2010:

COUNTRY WINNERS Nordea (National, 2010)

2009:

COUNTRY WINNERS SEB (2009)

CENTRAL BANKER REPORT CARD

2010:

Grade: A (Jean-Claude Trichet, 2010)

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2012:

COUNTRY WINNERS Nordea (National, 2012)

2011:

COUNTRY WINNERS Nordea (National, 2011)

ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE

Finland GDP Data & Country Report | Global Finance

WORLD'S BEST TREASURY & CASH MANAGEMENT BANKS & PROVIDERS

2012:

2011:

2010:

WORLD'S BEST TRADE FINANCE BANKS & PROVIDERS

2012:

2011:

2010:

2009:

WORLD'S BEST DEVELOPED MARKET BANKS

2012:

2011:

2010:

2009:

WORLD'S BEST INTERNET BANKS

2010:

2009:

WORLD'S SAFEST BANKS

2012:

2011:

2010:

2009:

WORLD'S BEST SUB CUSTODIANS

2011:

2010:

2009:

CENTRAL BANKER REPORT CARD

2010:

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2012:

2011: