Finland Economy

The economy has changed incredibly since the second world ware when it was practically all based on the country's agriculture. It is now dominated by the manufacturing industry, especially engineering, and electronics and telecommunications (just think of mobile phone giant Nokia!).

In terms of new technology, the Finns are frequently able to beat the Americans or Japanese in respect of innovation such that places like Helsinki or Oulu have attracted many high-tech companies to set up there.

The country is now one of the richest 15in the world in GDP per head terms despite being one of the smallest members of the EU and contributing less than 2% of the EUs GDP. It relies heavily on its natural resources and exploits these to its benefit, but it has also developed new areas of competitive advantage, most notably perhaps in its intellectual property. It has a highly skilled workforce following years of investment in a world-leading educational system.

The World Economic Forum called Finland ‘ the world’s most competitive country’.

Back to All European Country Guides