Understanding the Economy of Finland

For the information of the readers, understanding the economy of Finland might not be that easy as compared with the economy of other countries.

Finland has a mixed economy. Mixed economy is the term used when a particular country’s economy is boosted by several sectors such as the services sector, industrial sector, agriculture sector etc. Finland might be a tiny nation but Finland economy is something which is an exact opposite.

The economy of this country and the standards are fairly high such that it locks horns with the top countries of Europe like the United Kingdom and France.

Primary Produce and Exports:

Since this is an industrialized nation, its primary produce is the electronic goods. It is one of the largest exporters of electronic equipments in the world especially cellular phones.

Actually Finland was the major exporter of cellular phones to the rest of the world few years until Japan and China came into fray but it is still one of the leading exporters of cellular phones.
The other important products that are exported and have a considerable impact on the economy of Finland are the machinery, automobiles and all other forms of metal products.

Agriculture and Services Sector of Finland:

The contribution of agriculture and the service sector on the economy of Finland has to be mentioned. Agriculture contributes only about 3.4% of the total Finland economy but the service sector has a whopping contribution of about 65.7% just like any other nation in Europe. Paper industry is also another major industry in Finland mainly because of the abundant forest resources this country possesses.

The Gross Domestic Product (GDP) scale of this country is 181.4 billion dollars at present with a GDP growth percentage of 7.6%. The economy of this country is quite balanced and the living standards of the people are fairly good.