ECON FACTBOOK

Home About

Economy of Finland

Population: 5.4 million in 2013¹

GDP: $257 billion in 2013²

GDP per capita: $49,147 nominal³ ($38,251 PPP⁴) in 2013

GDP growth rate: -1.2% in 2013⁵

Industries

GDP by Industry 2012⁶

Industry sector	Value added ($ billions) 2012	Percent of total
Other activities	108	47.6%
Manufacturing	38	16.7%
Wholesale, retail trade, restaurants and hotels	30	13.3%
Transport, storage and communication	20	9.1%
Construction	15	6.8%
Mining and utilities	8	3.6%
Agriculture, hunting, forestry, fishing	7	2.9%
Total value added	226	100%

Employment

Unemployment rate: 10.4% in 2013⁷

Employment by Industry 2013⁸

Employment sector	Employees (thousands) 2013	Percent of total
Human health and social work	399	16.3%
Manufacturing	350	14.3%
Wholesale trade, retail trade and repair of motor vehicles	296	12.1%
Construction	176	7.1%
Education	175	7.1%
Professional, scientific and technical	164	6.7%
Transportation and storage	142	5.8%
Public administration and defence	111	4.5%
Agriculture, forestry and fishing	101	4.1%
Information and communication	100	4.1%
Administrative and support service	96	3.9%
Accommodation and food service	86	3.5%
Other service	73	3.0%
Arts, entertainment and recreation	62	2.5%
Finance and insurance	49	2.0%
Real estate	23	0.9%
Electricity, gas, steam and air conditioning	14	0.6%
Water supply, sewerage and waste management	13	0.5%
Not elsewhere classified	10	0.4%
Activities of households as employers	8	0.3%
Mining and quarrying	6	0.3%
Extraterritorial organizations and bodies	1	0.0%
Total employment	2,457	100%

Corporations

Top 1 Corporation by Revenue 2013* ⁹

Rank	Corporation	Revenue ($ billions) 2013	Profit ($ billions) 2013	Assets ($ billions) 12/31/13	Industry
1	Nokia	14	-0.7	28	Telecommunication equipment

* Corporate data calculated using the exchange rate .889 EUR = 1 USD

Households

Household Wealth: $827 billion (312% of GDP) in 2014¹⁰

Household Wealth per Adult: $196,621 in 2014¹⁰

Gini Coefficient: .278 in 2010¹¹

Government

Central Government

Central Government Revenue: $139 billion (54% of GDP) in 2014¹²

Central Government Expenditure: $145 billion (56% of GDP) in 2014¹²

Central Government Budget Balance: -$6 billion (-2% of GDP) in 2014¹²

Central Government Public Debt: $118 billion (46% of GDP) in Q3 2014* ¹³

Central Government 10 Year Bond Interest Rate: 0.40% on Jan 26, 2015¹⁴

* Public debt calculated using the exchange rate 0.889 EUR = 1 USD

Government Funds

Tax Structure

Individual Income Tax Rates and Thresholds in 2013* ¹⁵

0%: $0-$17,997
6.5%: $17,998-$26,884
17.5%: $26,885-$43,982
21.5%: $43,983-$79,007
29.75%: $79,008-$112,485
31.75: $112,485+

Corporate Tax Rate: 20% in 2014¹⁶

* Individual thresholds calculated using the exchange rate .889 EUR = 1 USD

Monetary Policy

Money Supply (Euro area, M1): $6.53 trillion in Nov 2014* ¹⁷

Benchmark Interest Rate (Euro area): 0.05% in Sept 2014¹⁸

Total Reserves: $11 billion (4% of GDP) in 2013¹⁹

Exchange Rate: .889 Euros = 1 U.S. Dollar on Jan 26, 2015²⁰

Inflation: 1.5% in 2013²¹

* Money supply calculated using the exchange rate .889 EUR = 1 USD

Financial Institutions

Top 10 Financial Institutions by Assets 2013²²

N/A (data not available at Relbanks.com)

International Accounts

Exports: $76 billion (30% of GDP) in 2013²³

Imports: $71 billion(28% of GDP) in 2013²³

Trade Balance: -$5 billion (+2% of GDP) in 2013²³

Foreign Direct Investment Inflow: -$1 billion (0% of GDP) in 2013²⁴

Foreign Direct Investment Outflow: $4 billion (2% of GDP) in 2013²⁴

Foreign Aid Inflow: N/A

Foreign Aid Outflow: $1.4 billion(0.5% of GDP)in 2013²⁵

References