Finland

Country Summary

Introduction

Background

Finland was a province and then a grand duchy under Sweden from the 12th to the 19th centuries and an autonomous grand duchy of Russia after 1809. It gained complete independence in 1917. Finland joined the EU in 1995 and NATO in April 2023.

Geography

Area

total: 338,145 sq km
land: 303,815 sq km
water: 34,330 sq km

Climate

cold temperate; potentially subarctic but comparatively mild because of moderating influence of the North Atlantic Current, Baltic Sea, and more than 60,000 lakes

Natural resources

timber, iron ore, copper, lead, zinc, chromite, nickel, gold, silver, limestone

People and Society

Population

5,614,571 (2023 est.)

Ethnic groups

Finnish, Swedish, Russian, Estonian, Romani, Sami

Languages

Finnish (official) 85.9%, Swedish (official) 5.2%, Russian 1.7%, other 7.2% (2022 est.)

Religions

Lutheran 66.6%, Greek Orthodox 1.1%, other 1.7%, none 30.6% (2022 est.)

Population growth rate

0.22% (2023 est.)

Government

Government type

parliamentary republic

Capital

name: Helsinki

Executive branch

chief of state: President Alexander STUBB (since 1 March 2024)
head of government: Prime Minister Petteri ORPO (since 20 June 2023)

Legislative branch

description: unicameral Parliament or Eduskunta (200 seats; 199 members directly elected in single- and multi-seat constituencies by proportional representation vote and 1 member in the province of Aland directly elected by simple majority vote; members serve 4-year terms)

Economy

Economic overview

highly industrialized, export-based EU economy and euro user; high per capita GDP; major timber, metals, engineering, telecommunications, and electronics industries; manageable public debts; rigid labor laws impose higher regulatory burdens

Real GDP (purchasing power parity)

$274.576 billion (2022 est.)
$270.247 billion (2021 est.)
$261.941 billion (2020 est.)

Real GDP per capita

$49,400 (2022 est.)
$48,800 (2021 est.)
$47,400 (2020 est.)

Agricultural products

milk, barley, oats, wheat, potatoes, sugar beets, rye, pork, poultry, beef

Industries

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

Exports

$127.83 billion (2022 est.)
$116.762 billion (2021 est.)
$97.42 billion (2020 est.)

Exports - partners

Germany 13%, Sweden 9%, United States 8%, Netherlands 6%, China 6% (2021)

Exports - commodities

refined petroleum, kaolin-coated paper, cars, lumber, stainless steel, wood pulp (2021)

Imports

$134.721 billion (2022 est.)
$116.72 billion (2021 est.)
$97.037 billion (2020 est.)

Imports - partners

Germany 16%, Sweden 15%, Russia 11%, China 7%, Netherlands 7% (2021)

Imports - commodities

cars and vehicle parts, crude petroleum, refined petroleum, broadcasting equipment, packaged medicines (2021)

Exchange rates

euros (EUR) per US dollar -
Exchange rates:
0.95 (2022 est.)
0.845 (2021 est.)
0.876 (2020 est.)
0.893 (2019 est.)
0.847 (2018 est.)


Page last updated: Wednesday, April 17, 2024