Finland/Economy

Economy of Finland

An overview of key economic indicators. Select a category for detailed trends, charts, and insights.

Explore Economic Domains

Growth & Output

Coming Soon
GDP (USD)
$295.5B(2023)
GDP PPP (USD)
$344.7B(2023)
GDP per Capita (USD)
$52,926(2023)
GDP Growth (inflation-adjusted)
-1.2%(2023)
Inflation (CPI Annual %)
1.6%(2024)

Trade & Finance

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Exports (as share of GDP)
42.8%(2023)
Imports (as share of GDP)
42.5%(2023)
FDI Inflows (as share of GDP)
-0.1%(2023)
Remittance Inflow (USD)
$679.1M(2023)
Tax Revenue (as share of GDP)
25.3%(2023)

Labor & Income

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Unemployment Rate
8.3%(2024)
Employment in Services
74.8%(2023)
Poverty Rate
12.2%(2022)
GINI Index
27.9(2022)
GNI per Capita (USD)
$53,230(2023)

Energy & Environment

Coming Soon
Energy Use per Capita
5867 kg oil eq.(2023)
Renewable Energy Consumption (%)
50.2%(2021)

Economic Snapshot Overview

A summary of key economic indicators for Finland

  • The economic architecture of Finland is substantial, anchored by a Gross Domestic Product (GDP) of approximately $295.53B
    2023
    . This places it as the 46th largest economy out of 191 countries measured, underscoring its significance on the world stage. On a per capita basis, GDP stands at $52.93K
    2023
    , while its GDP in Purchasing Power Parity (PPP) terms is estimated at $344.72B, reflecting the population's domestic purchasing power. The economy is facing a contraction, with a negative growth rate of -1.2%
    2023
    , accompanied by stable price levels, with inflation (CPI) at 1.6%
    2024
    .
  • On the global stage, the nation's trade and financial dynamics reveal a complex interplay of factors. The country has a relatively balanced trade profile, with exports making up 42.8% of GDP and imports 42.5%
    2023
    . Foreign Direct Investment (FDI) inflows are significant, constituting -0.12% of the economy
    2023
    . This performance positions the country 164th globally out of 186 nations, indicating its relative attractiveness to foreign capital. Additionally, personal remittances received amount to a substantial $679.06M annually
    2023
    , highlighting the economic importance of its diaspora. The government's fiscal position is supported by a strong tax base, with tax revenue accounting for 25.3% of GDP
    2023
    .
  • The socio-economic landscape is characterized by a Gross National Income (GNI) per capita of $53,230
    2023
    . Globally, this ranks the nation 20th out of 190 in terms of GNI per capita, providing a clear measure of its national wealth relative to others. The country faces significant labor market challenges, with an unemployment rate of 8.3%
    2024
    . The services sector is a primary driver of the labor market, accounting for 74.8% of total employment
    2023
    . Poverty remains a key issue, with 12.2% of the population living below the national poverty line
    2022
    . The country has a relatively equitable distribution of income, with a Gini index of 27.9
    2022
    .
  • On the environment and energy front, energy consumption per capita is 5,866.626 kg of oil equivalent
    2023
    . The country is a leader in clean energy, with renewable sources making up 50.2% of total final energy consumption
    2021
    . Its commitment to clean energy places it 143rd among 190 countries for its share of renewable energy consumption.

Key Economic Insights

Macroeconomic Health

Stagnant growth combined with high unemployment points to significant structural issues that may require bold policy interventions.

Trade & Investment Profile

The degree of openness to trade and foreign investment is a major determinant of economic structure and resilience.

Social Equity & Distribution

Distributing the benefits of economic growth equitably is crucial for social cohesion and long-term stability.

Energy & Sustainability

A strong commitment to renewable energy positions the country as a leader in the green transition, potentially creating new economic advantages.

More About This Country

Neighbors & Regional Peers

Note: The information on this page has been compiled from authoritative sources. While every effort is made to ensure accuracy, please note that some figures may not be current or entirely precise.