Our Market

Below provides a profile of the Europe regional market overall, and interesting facts and information about issues important to both Finland and foreign executives working in Finland.

Finland   Economy, Geography, People, History, Governance, etc.

Economy:

Finland has transformed its economy in a matter of decades to become one of the richest countries and most stable societies in the world. In the 1950’s the Finnish economy was still largely based on primary production and an agrarian workforce. Today Finland is leading or near the top of most international comparisons in terms of growth and development in the economic, technological and social spheres.

The largest sector of the Finnish economy is services at 65%, followed by manufacturing and refining at 31%. Primary production is at 3%.

Finland’s main industrial products are paper and board, electronics and metal products. The engineering and high technology industries, led by Nokia, have long been the leading branches of manufacturing.

 

Exports:

There are three almost equally important exports sectors in the Finnish economy:

-       electrotechnical industry products;

-       metal products, machinery and transport equipment; and

-       wood and paper products.

 

The most important trading partners are Sweden, Germany and Russia.

 

 

Total area:

338,144 km² square kilometers, of which 10% is water and 69% forest;

Europe's largest archipelago, including the semi-autonomous province of Aland

 

Neighboring countries:

Sweden, Norway, Russia, Estonia

 

Distances:

1,160 km north to south, 540 km west to east Finland's land border with Russia (1,269 km) is the eastern border of the European Union

 

Climate:

The climate of Finland is marked by cold winters and fairly warm summers.

 

In summer the temperature quite often rises to +20 Celsius or more and occasionally goes close to +30 in southern and eastern parts of the country. In winter, temperatures of -20 Celsius are not uncommon in many areas. Finnish Lapland invariably has the lowest winter temperatures.

 

Population:

5.3 million, 17.6 inhabitants per square kilometer, 71% live in towns or urban areas, 29% in rural areas

 

 

Capital:

Helsinki (591,900), about 1.3 million people live in the Helsinki metropolitan area

 

Languages:

Finland has two official languages:

Finnish (91.5%) and Swedish (5.5%)

 

Religion:

Lutheran (82.4%) and Orthodox (about 1.1%)

 

Some important events in the history of Finland:

 

 

1155  

The first crusade to Finland by the Swedes. Finland becomes part of the Swedish realm.

 

1809

Finland is handed over to Russia by Sweden and becomes an autonomous Grand Duchy under the Russian emperor.

 

1917

Finland's declaration of independence on December 6.

 

1919

The present constitution is adopted and Finland becomes a republic.

 

1939-40

The winter war between Finland and the Soviet Union.

 

1941-44

Fighting between Finnish and Soviet Forces resumes in the Continuation War. Some territory is ceded to the Soviet Union but Finland is never occupied and preserves its independence and sovereignty.

 

1955

Finland joins the United Nations

 

1989

Finland joins the Council of Europe

 

1995

Finland becomes a member of the European Union

 

Parliament:

Parliament consists of one chamber with 200 members. The members are elected for a four-year term by direct popular vote under a system of proportional representation.

Government:

The Government as of June 2011 is a coalition of The National Coalition Party, The Finnish Social Democratic Party, The Left Alliance, The Swedish People´s Party, The Greens of Finland and The Finnish Christian Democrats. 9 of the 19 ministerial posts are held by women. The Prime Minister is Mr. Jyrki Katainen.

President:

The head of state is the President of the Republic. The President is elected for a six-year term by direct popular vote. The president for the current term (until February 28, 2018) is Mr Sauli Niinistö.

GDP:

EUR 180 billion in 2010; GDP per capita at current market prices EUR 33 600.

Currency:

The Finnish currency unit is the euro. Finland was one of the 12 EU countries that started using euro cash in 2002.

Local Time:

+2 hrs GMT