BEST BANKS 2014: EUROPE

BEST BANKS 2014: EUROPE

The region battled continuing recession or, at best, slow growth, a tightening regulatory environment and country-specific banking taxes or fines for past misdemeanors.

 
 
Source
Central bank

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

International Reserves

US$ 10.276 billion (Source: IMF; Data updated: 2012)

Source
Gross Domestic Product - GDP

US$ 257.782 billion (2011 estimate)

GDP (Purchasing Power Parity)

199.386 billion of International dollars (2011 estimate)

Real GDP growth
2001 2002 2003 2004 2005 2006 2007 2008
2.3% 1.8% 2% 4.1% 2.9% 4.4% 5.3% 0.3%
2009 2010 2011 2012*        
-8.4% 3.7% 2.9% 0.6%        

*Estimate

GDP per capita - current prices

US$ 47,496 (2010 estimate)

GDP per capita - PPP

$36,736 International Dollars (2010 estimate)

GDP (PPP) - share of world total
1980 1990 2000 2010 2015**
0.36% 0.36% 0.3% 0.25% 0.23%

**Forecast

 
 
Source
GDP - composition by sector

(Data released on February 2012)

  • agriculture: 2.8% 
  • industry: 29.2% 
  • services: 68% (2011 estimate)
Gross domestic expenditure on R&D; (% of GDP)

3.87% (2010)

(Data released on March 2012)

Inflation
2009 2010 2011 2012*
1.6%(2008) 1.7% 3.3% 2.9%

*Estimate

Unemployment rate
2009 2010 2011 2012*
8.2% 8.4% 7.8%(2009) 7.7%

*Estimate

Household saving rates

0.9% (Net saving; 2012 forecast)

(Data released on December 2011)

Public debt (General government gross debt as a % of GDP)
2008 2009 2010 2011 2012*
33.9% 43.5% 48.4% 48.6% 51.6%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2008 2009 2010 2011* 2012**
4.2% -2.7% -2.8% -0.8% -1.4%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: AAA

Moody's rating: Aaa

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Dec 2011 and Nov 2012)

Market value of publicly traded shares
2009 2010 2011
US$91.02 billion US$118.2 billion US$143.1 billion
Largest companies in Finland

Nokian Tyres (Auto & Truck Parts), Nokia (Communications Equipment), Kone (Construction Service), Sampo (Diversified Insurance), Fortum (Electric Utilities), Kesko (Food Retail), Wärtsilä (Heavy Equipment), Neste Oil (Oil & Gas Operations), Metso (Other Industrial Equipment),UPM-Kymmene (Paper & Paper Products), Stora Enso (Paper & Paper Products), Pohjola Bank (Regional Banks) (2012)

 
 
Source
Current account balance

US$ -2.5 billion (2011 estimate)(After 2008)

Current account balance by percentage of GDP

-1% of GDP (2011 estimate)(2009)

Exports as percent of GDP(Exports of goods and services)

40.4% (2010)

(Data released on April 2012)

Shares in world total merchandising export

0.43%(2007)

(Data were released in 2012 and refer to 2011)

Shares in world total commercial services export

0.66% (2011)(2007)

(Data were released in 2012)

Total exports

US$72.7 billion (2012 estimate) 

Export commodities

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

Total imports

US$72.23 billion (2012 estimate) 

 
 
Source
Import commodities

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

Exports - major partners

Sweden 12.1%, Germany 10.2%, Russia 9.5%, Netherlands 6.9%, UK 5.3%, US 5.1%, China 4.8% (2011)

Imports - major partners

Russia 18%, Sweden 14.1%, Germany 13.9%, Netherlands 7.8%, China 4.3% (2011)

FDI inflows
2009 2010 2011
US$398 million US$6,733 million(2009) US$54 million(2009)
FDI outflows
2009 2010 2011  
US$4,917 million US$10,471 million US$5,417 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$3,303 million
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

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

Cross-border M&A; deals worth over $3 billion completed in 2011(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 - 185. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 11 out of 185 countries(2009) (2013)

Subcategories:

Starting a business: 49 out of 185 countries(2009)

Enforcing Contracts: 9 out of 185 countries

Registering Property: 24 out of 185 countries

Getting credit: 40 out of 185 countries

Protecting investors: 70 out of 185 countries

Trading across border: 6 out of 185 countries

Paying Taxes: 23 out of 185 countries

Dealing with Construction Permits: 34 out of 185 countries

Getting Electricity: 21 out of 185 countries

Resolving Insolvency: 5 out of 185 countries

(2013)

Global competitiveness ranking(ranking by country on a basis of 144, the first is the best)

3

(2012)

 

 

Index of Economic FreedomWSJ and Heritage Foundation

Ranking: 17 Score: 72.3 (Mostly Free) (2009)

(100=totally free 0=totally repressed )

 
 
Source
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 2012* 2017**
4.79 million 5 million 5.18 million 5.43 million 5.56 million

*Estimate    **Forecast

 
 
Source
Urban population as % of total population
1960 1980 2000 2011
38.1% 59.8% 61.1% 83.7%
Population median age

42 years (2010)

Population growth rate

0.4% (2011)

Life expectancy

80 years (2010)

% of population living on less than $2 a day

N/A

Inequality of wealth distribution (Gini index)

26.88 (2000)

(Data were released in 2011, 0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:1
Civil Liberties:1 (2011)

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

Source
Total telephone subscribers as % of population

186.08% (2011)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population

89.37% (Data were released in 2012 and refer to 2011)

Cost of living - Mercer 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)

Source
CO2 emissions(Metric tons of CO2 per capita)

10.0286 (Data were released in 2012 and refer to 2009)

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