Finland: Orpo’s Uphill Path To A New Government
Finland’s conservative National Coalition Party came first in elections but fell short of the majority needed to form a government on their own.
Finland GDP and Economic Data
Includes Finland real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Finland economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Finland best banks and safest banks are also available.
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International Reserves
USD 16.75 billion (2021)
International Monetary Fund (IMF), data retrieved January 2022
Gross Domestic Product - GDP
USD 296.02 billion (2021 estimate)
IMF - World Economic Outlook, October 2021
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GDP (Purchasing Power Parity)
USD 293.59 billion (2021 estimate)
IMF - World Economic Outlook, October 2021
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Real GDP growth
| 2017 | 2018 | 2019 | 2020* | 2021* |
| 3.2% | 1.1% | 1.3% | –2.9% | 3.0% |
*Estimate
Source
GDP per capita - current prices
USD 53,522.57 (2021 estimate)
IMF - World Economic Outlook, October 2021
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GDP per capita - PPP
USD 53,083.92 (2021 estimate)
IMF - World Economic Outlook, October 2021
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GDP - composition by sector
- agriculture: 2.5%
- industry: 24.0%
- services: 60.0%
(2016 estimate)
Gross domestic expenditure on R&D; (% of GDP)
2.8% (2019)
OECD, retrieved January 2022
Inflation
| 2017 | 2018 | 2019 | 2020* | 2021* |
| 0.8% | 1.2% | 1.1% | 0.4% | 1.9% |
*Estimate
Source
Unemployment rate
| 2017 | 2018 | 2019 | 2020* | 2021* |
| 8.8% | 7.4% | 6.7% | 7.8% | 7.8% |
*Estimate
Source
Public debt (General government gross debt as a % of GDP)
| 2017 | 2018 | 2019 | 2020* | 2021* |
| 61.2% | 59.8% | 59.5% | 69.5% | 72.2% |
*Estimate
Source
Public deficit (General government net lending/borrowing as a % of GDP)
| 2017 | 2018 | 2019 | 2020* | 2021* |
| –0.4% | –0.7% | –0.8% | –5.4% | –4.6% |
*Estimate
Source
Government bond ratings
Standard & Poor's: AA+
Moody's: Aa1
Standard & Poor's / Moody's (January 2022)
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Largest companies
Nordea Bank, Fortum, Nokia, Kone, Neste, Sampo, Stora Enso, UPM-Kymmene, Kesko
Forbes Global 2000 (2021)
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Current account balance by percentage of GDP
-1.6 % (2018 estimate)
Source
Exports as percent of GDP (Exports of goods and services)
39.2% (2018)
Shares in world total merchandising export
0.39% (2018)
Shares in world total commercial services export
0.56% (2018)
Export commodities
Electrical and optical equipment, machinery, transport equipment, paper and pulp, chemicals, basic metals; timber
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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
Germany 14.2%, Sweden 10.1%, US 7%, Netherlands 6.8%, China 5.7%, Russia 5.7%, UK 4.5% (2017)
Imports - major partners
Germany 17.7%, Sweden 15.8%, Russia 13.1%, Netherlands 8.7% (2017)
FDI inflows
| 2016 | 2017 | 2018 |
| USD 9,250 million | USD -610 million | USD 1,225 million |
FDI outflows
| 2016 | 2017 | 2018 |
| USD 26,080 million | USD -320 million | USD 10,961 million |
Value of cross-border M&A, by country of purchaser
| 2015 | 2016 | 2017 | 2018 |
| USD -7,764 million | USD 15,127 million | USD 1,488 million | USD 6,498 million |
Cross-border M&A deals worth over $3 billion completed in 2014
N/A
Cross-border M&A deals worth over $3 billion completed in 2015
N/A
Best countries for doing business
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall ranking:
20 out of 190 countries
Subcategories:
Starting a Business: 31 out of 190 countries
Dealing with Construction Permits: 42 out of 190 countries
Getting Electricity: 24 out of 190 countries
Registering Property: 34 out of 190 countries
Getting Credit: 80 out of 190 countries
Protecting Minority Investors: 61 out of 190 countries
Paying Taxes: 10 out of 190 countries
Trading across Borders: 37 out of 190 countries
Enforcing Contracts: 45 out of 190 countries
Resolving Insolvency: 1 out of 190 countries
Source
Global competitiveness ranking
11 out of 141 countries
(2019)
Index of Economic Freedom
Ranking: 20 / Score: 74.9 (Mostly free) (2019)
(100=totally free 0=totally repressed)
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Languages
Finnish (official) 87.6%, Swedish (official) 5.2%, Russian 1.4%, other 5.8% (2018 est.)
Religions
Lutheran 69.8%, Greek Orthodox 1.1%, other 1.7%, unspecified 27.4% (2018 est.)
Total population
| 1990 | 2000 | 2010 | 2015 | 2020* |
| 4.97 million | 5.17 million | 5.35 million | 5.47 million | 5.53 million |
*Estimate
Source
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2018 |
| 55.3% | 71.7% | 82.2% | 85.4% |
% of population living on less than $3.10 a day
0% (last available estimate, 2015)
Inequality of wealth distribution (Gini index)
27.1 (last available estimate, 2015)
(0=perfect equality, 100=absolute inequality)
Source
Freedom House rating
Free
Political Rights: 1
Civil Liberties: 1 (2019)
(1 represents the most free, 7 the least free rating)
Source
Total telephone subscribers as % of population
Fixed: 5.8%
Mobile: 132.2%
(2018)
(fixed-telephone subscribers and mobile-cellular subscribers)