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, with exports equaling 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. Growth in 2003 was held back by the global slowdown but picked up in 2004. High unemployment remains a persistent problem.

Agriculture
barley, wheat, sugar beets, potatoes; dairy cattle; fish

Airlines
Finland Airports and Airlines
Airlines in Europe
Airlines Worldwide

Airports
Finland Airports and Airlines
Airports in Europe
Airports Worldwide

Country Budget
revenues: $96.43 billion
expenditures: $91.95 billion, including capital expenditures of NA (2004 est.)

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

Currency Exchange Rate
euros per US dollar - 0.8054 (2004), 0.886 (2003), 1.0626 (2002), 1.1175 (2001), 1.0854 (2000)

Fiscal Year
calendar year

GDP (Gross Domestic Product)
GDP (purchasing power parity):  $151.2 billion (2004 est.)
GDP - real growth rate: 3% (2004 est.)
GDP - per capita:  purchasing power parity - $29,000 (2004 est.)
GDP - composition by sector:
agriculture: 3.3%
industry: 30.2%
services: 66.5% (2004 est.)

Imports / Exports
Exports:  $61.04 billion f.o.b. (2004 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:  $45.17 billion f.o.b. (2004 est.)
Imports - commodities: foodstuffs, petroleum and petroleum products, chemicals, transport equipment, iron and steel, machinery, textile yarn and fabrics, grains (1999)
Imports - partners:  Germany 16.2%, Sweden 14.3%, Russia 12.8%, Netherlands 6.3%, Denmark 5.2%, UK 4.6%, France 4.3% (2004)

Industries
metals and metal products, electronics, machinery and scientific instruments, shipbuilding, pulp and paper, foodstuffs, chemicals, textiles, clothing

Investing
Forex, Foreign Exchange Market: Currency Trading

Labor Force & Unemployment Rate
Labor force:  2.66 million (2004 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:  8.9% (2004 est.)