ECONOMIC INFORMATION

Population: 5.2m

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Population growth: 0.21%

Population density (people per sq. km): 17

UN Human Development Index ranking: 13/177

Gross national income (current US$): $140.8bn (2003)

Gross national income per capita: $27,020

PPP Gross national income: $141.2bn

PPP Gross national income per capita: $27,100

GDP growth: 1.7% (2003)

GDP breakdown Agriculture: 3.4%, Industry: 32.6%, Services: 64.0%

Inflation (12-month average): 0.5 (2003)

Gross capital formation as % of GDP: 19.6%

Final consumption expenditure as % of GDP (growth): 72.4% (1.6%)

Exports of goods & services as % of GDP: 38.2%

Top 3 export markets: Germany, US, UK

Local industries: Metal products, electronics, shipbuilding, pulp & paper, copper refining, foodstuffs, chemicals, textiles, clothing

WEF Growth Competitiveness ranking *: 1/104

WEF Business Competitiveness ranking **: 2/103

WEF Quality of the Business Environment ranking: 1/103

Transparency International Corruption Perceptions ranking: 1/145

Languages : Finnish and Swedish (official)

 

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FDI INFORMATION

 

 

Region: Scandinavia

 

No. of projects (Jan-Sep 2004): 57

Market-share of projects in the region: 9.2%

Value of projects relative to GDP : 3.5%

Top 3 destination sectors: Consumer products, chemicals, IT & software

Top 3 business functions: Retail, sales, marketing & support, manufacturing

Top 3 source countries: Sweden, US, UK

Top 3 investors: Linde, BASF, Imerys

 

IPA

 

Name: Invest in Finland

 

Web address: www.investinfinland.fi

* World Economic Forum Growth Competitiveness Ranking assesses an economy’s ability to grow consistently

** World Economic Forum Business Competitiveness Ranking assesses the microeconomic factors that contribute to economic growth

*** The difficulty of hiring workers and the difficulty and expense of firing workers is reflected as an index where the higher the value the more rigid the regulations