Finland

Investment revival

Click on the globe for Key Economic Forecast & Indicators

With output close to its potential, Finland is in a more favourable cyclical position than the rest of the euro area on average. The pick-up in world trade and a revival in business investment are expected to become increasingly important as drivers of growth, which should average about 3% a year to 2006.
A moderate wage settlement would allow cuts in labour taxation without compromising aggregate fiscal objectives. However, efficiency gains in the public sector and greater private service provision are required to create room for further tax cuts. Additional reforms, particularly a tightening of conditions applying to early retirement schemes, are needed to achieve the government’s employment target.
Population (000s), 20035 213
Area (000 sq km)338
CurrencyEuro
GDP (Billion USD), 2003160.8
Life expectancy at birth (Women, Men), 2002 81.5, 74.9
Total labour force (000s), 20032 620
Government typeRepublic
Indicators% change unless otherwise indicated
200420052006
GDP growth3.12.83.1
Consumer price index0.21.71.9
Short-term interest rate (%)2.12.12.7
Unemployment rate (%)8.98.78.2
General government financial balance (% GDP)2.32.12.3
Current account balance (% GDP)4.94.95.0
Source: OECD© OECD Observer No 245, November 2004


Economic data

GDP growth: -1.8% Q1 2020/Q4 2019
Consumer price inflation: 0.9% Apr 2020 annual
Trade (G20): -4.3% exp, -3.9% imp, Q1 2020/Q4 2019
Unemployment: 8.4% Apr 2020
Last update: 9 July 2020

OECD Observer Newsletter

Stay up-to-date with the latest news from the OECD by signing up for our e-newsletter :

Twitter feed

Digital Editions

Don't miss

Most Popular Articles

NOTE: All signed articles in the OECD Observer express the opinions of the authors
and do not necessarily represent the official views of OECD member countries.

All rights reserved. OECD 2020