Finland has a highly industrialized, largely free-market economy with per capita output roughly that of Austria, Belgium, the Netherlands, and Sweden. Trade is important with exports accounting for over one third of GDP in recent years. Finland is strongly competitive in manufacturing - principally the wood, metals, engineering, telecommunications, and electronics industries. Finland excels in high-tech exports such as mobile phones. 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 in basic products. Forestry, an important export earner, provides a secondary occupation for the rural population. Finland had been one of the best performing economies within the EU in recent years and its banks and financial markets avoided the worst of global financial crisis. However, the world slowdown hit exports and domestic demand hard in 2009, with Finland experiencing one of the deepest contractions in the euro zone. A recovery of exports, domestic trade, and household consumption stimulated economic growth in 2010. The recession left a deep mark on general government finances and the debt ratio, turning previously strong budget surpluses into deficits. In addition to marginal growth prospects, general government finances will remain in deficit during the next few years. The great challenge of economic policy will be to mitigate a possible recession in 2012 in which measures supporting growth will be combined with general government adjustment measures. Longer-term, Finland must address a rapidly aging population and decreasing productivity that threaten competitiveness, fiscal sustainability, and economic growth.

Central Government Budget (2011 est.)

Data cover general government debt, and includes debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data include debt issued by subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment; debt instruments for the social funds are not sold at public auctions

This is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks in the euro area

$115.5 billion (31 December 2011 est.)

$112.9 billion (31 December 2010 est.)

See entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 17 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders

$198.9 billion (31 December 2011 est.)

$172.8 billion (31 December 2010 est.)

$251.2 billion (31 December 2011 est.)

$242.5 billion (31 December 2010 est.)

$143.1 billion (31 December 2011)

$118.2 billion (31 December 2010)

$91.02 billion (31 December 2009)

Barley, wheat, sugar beets, potatoes; dairy cattle; fish

Metals and metal products, electronics, machinery and scientific instruments, shipbuilding, pulp and paper, foodstuffs, chemicals, textiles, clothing

Electrical and optical equipment, machinery, transport equipment, paper and pulp, chemicals, basic metals; timber

Sweden 12.1%, Germany 10.2%, Russia 9.5%, Netherlands 6.9%, UK 5.3%, US 5.1%, China 4.8% (2011)

Foodstuffs, petroleum and petroleum products, chemicals, transport equipment, iron and steel, machinery, computers, electronic industry products, textile yarn and fabrics, grains

Russia 18%, Sweden 14.1%, Germany 13.9%, Netherlands 7.8%, China 4.3% (2011)

$10.35 billion (31 December 2011 est.)

$9.555 billion (31 December 2010 est.)

$577 billion (31 December 2011)

$92.85 billion (31 December 2011 est.)

$85.8 billion (31 December 2010 est.)

$145.6 billion (31 December 2011 est.)

$136.8 billion (31 December 2010 est.)