Economy of Finland
Population: 5.52 M (2018)
GDP per Capita: 50,152 USD (2018)
276,740 M.

GDP USD

(2018)

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106,720 M.

EXPORTS USD

(2018)

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108,740 M.

IMPORTS USD

(2018)

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59.40 %

PUBLIC DEBT

(2019)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 1.67 % (2018)
GDP of 2010 USD USD 269.00 B. (2018)
GDP Current USD USD 276.74 B. (2018)
GDP per Capita Current USD USD 50,152 (2018)
GDP per capita, PPP USD 42,061 (2018)
GDP per Capita, 2010 USD USD 48,749 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 22.66 % (2018)
Government Spending USD 62.72 B. (2018)
Government Debt % GDP 59.40 % (2019)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 114.78 (2018)
Trade Openness 77.85 % (2018)
Exports of Goods and Services % GDP 38.56 % (2018)
Exports Goods & Services USD 106.72 B. (2018)
Exports Annual Growth 2.19 % (2018)
Imports as % GDP 39.29 % (2018)
Total Imports USD 108.74 B. (2018)
Foreign Direct Investment % GDP 6.44 % (2017)
Foreign Direct Investment USD 16.40 B. (2017)
Current Account Balance % GDP USD -1.61 % (2018)
Current Account Balance USD -4.47 B. (2018)
Trade Balance % GDP -0.73 % (2018)
Trade Balance USD -1.77 B. (2018)
Foreign Exchange Reserves incl Gold USD 10.31 B. (2018)
Remittances % GDP 0.33 % (2018)
Remittances USD 90 M. (2018)
Balance of Payments USD 1,344 M. (2010)

Labor Market

Indicator Value
Labor Force 2.71 M. (2019)
Unemployment Rate 7.25 % (2019)
Unemployment Rate Females 6.30 % (2019)
Unemployment Rate Males 6.87 % (2019)
Youth Unemployment (ages 15-24) 16.96 % (2019)
Labor Force Participation Rate 58.34 % (2019)
Labor Force (Percent Female) 47.99 % (2019)
Female Labor Force Participation Rate 54.85 % (2019)
Male Labor Force Participation Rate 61.97 % (2019)
Dependent People 60.94 % (2018)

Agriculture Sector

Indicator Value
Forest Area 73.10 % (2016)
Forest Area km² 222,180 km² (2016)
Agricultural Land 7.49 % (2016)
Agricultural Land km² 22,750 km² (2016)
Employment 3.69 % (2019)
Value added % GDP 2.46 % (2018)
Agriculture Value added USD 6.81 B. (2018)
Crop Production Index 92.80 (2016)
Precipitation 536 mm (2014)
Arable Land 7 % (2016)
Cereal Yield 3,959 kg/hectare (2017)
Food production index 97 (2016)
Rural Population 15 % (2018)
Fertilizer use of Arable Land 81 kg/hectare (2016)
Livestock Production Index 100 (2016)
Economy of Finland

According to the World Bank and its latest published data, the economy of the Finland presents a growth rate of 1.67 % (2018) to the previous year.

With a population that reaches 5.52 M (2018) and a gross domestic product of USD 276.74 B. (2018), it translates a Gross Domestic Product per Capita of USD 50,152 placing its inhabitants on the threshold of an High-income country (according to the World Bank's updated classification).

Finland also has a workforce of 2.71 M. (2019) with an unemployment rate of 7.25 % (2019), where women represent 6.30 % (2019) and men 6.87 % (2019), the unemployment rate for young people between 15-24 years old stood at 16.96 % (2019). The total number of dependent people stands at 60.94 % (2018).

The central government spent 22.66 % (2018) of its gross domestic product that year, which in absolute terms is USD 62.72 B. (2018). Its consolidated public debt reached 59.40 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Finland exported USD 106.72 B. (2018), which represents 38.56 % (2018) of its gross domestic product, in that same sense its imports reached USD 108.74 B. (2018) with a direct foreign investment of USD 16.40 B. (2017).

Finland has a forest area of 222,180 km² (2016), which represents 73.10 % (2016) of its total area, an average rainfall of 536 mm (2014) per year and a population of 15 % (2018) living in rural areas. With a total area of 22,750 km² (2016) available for agriculture and 3.69 % (2019) of its employments, the agricultural sector contributes to the economy of the Finland about USD 6.81 B. (2018) (2.46 % (2018) of its GDP).