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Link to original content: http://statista.com/topics/6910/key-economic-indicators-in-finland/
Key economic indicators of Finland - statistics & facts | Statista

Key economic indicators of Finland - statistics & facts

Finland’s economy is characterized by a high-level of industrialization, a small domestic market, and openness to trade. It is a mixed economy, which combines a free market with a Nordic welfare state model. In 2023, the gross domestic product (GDP) in Finland amounted to 273 billion euros. The high economic output per capita is similar to that of other Western European economies, such as Germany, Austria, and Sweden.

National depts continued to grow

In the early 2000s, Finland was one of the best performing economies within the EU, but the global financial crisis hit the country’s exports and domestic demand hard. According to preliminary data, Finland’s GDP growth rate was estimated at -0.2 percent in 2024. Since the 2008-2009 financial crisis, Finland has faced difficulties catching up to its peer countries in export industry competitiveness, productivity, and employment rates. The GDP decline of 8.1 percent in 2009 was the worst since the "great depression" of the early 1990’s. Even though the economic growth has been positive from 2016 onwards, the general government budget has remained in deficit. Correspondingly, the national debt has increased dramatically over the past decade, peaking at an all-time high of 75.8 percent in 2023. In 2023, the general government budget deficit amounted to roughly 8.2 billion euros.

International trade

As an open export-led economy, foreign trade is vital for the Nordic country. In 2023, exports of goods and services accounted for 43 percent of Finland’s GDP. Consequently, Finland is also vulnerable to external shocks and conjuncture in the international economy. The backbone of the Finnish economy has traditionally been forestry, in particular exports of wood, paper, and chemical pulp. Although the forest industry products still account for around 17 percent of export revenue, machinery and equipment now constitute a larger share of export trade. Moreover, Finland excels in the ICT technologies, gaming, cleantech, and biotechnology sectors. Imports mainly consist of industrial products, raw materials for industrial use, consumer goods, and transport equipment.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by J. Clausnitzer, Nov 4, 2024

Key insights

Gross domestic product (GDP) of Finland
273bn EUR
GDP per capita in Finland
49k EUR
GDP growth rate in Finland
-1.2%
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Inflation rate in Finland from 2005 to 2023

Key Economic Indicators

Inflation rate in Finland 2005-2023

Unemployment rate in Finland from 2013 to 2023

Employment

Unemployment rate in Finland 2013-2023

Employment rate in Finland from 2013 to 2023

Employment

Employment rate in Finland 2013-2023

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Further reports

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Economic Outlook Finland
Economic Outlook Finland
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Demographics of Finland
Statistical Yearbook of Finland 2019
Statistical Yearbook of Finland 2019
Employment in Finland
Employment in Finland
Crime in Finland
Crime in Finland
Healthcare in Finland
Healthcare in Finland

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