|
In the past, Finnish trade relationships and politics were by large determined by avoidance of provoking first the feudally ruled Imperial Russia and then the totalitarian Soviet Union. Despite the hindrance caused by an influential neighboring country, Finland eventually became one of the most globalize nations in the world. For decades now, Finland has had a highly industrialized, largely free-market economy with a per capita output equal to that of other western economies such as for example Sweden, UK, France and Germany. Its key economic sector is manufacturing of principally wood, metal, engineering, telecommunication and electronic products. Trade is important, with exports equaling almost one-third of GDP. Except for timber and several minerals, Finland depends on imports of raw materials, energy and some components for manufactured goods. Because of the climate, agricultural development is limited to maintaining self-sufficiency. Forestry, an important export earner, provides a secondary occupation for the rural population. Finland was one of the 11 countries joining the euro monetary system (EMU) on January 1, 1999. Finland has been declared the most competitive country in the world for three consecutive years 2003-2005 (four times in the last five years) by the World Economic Forum |
Finland Information: Inside
|
