1) MACRO ECONOMIC OVERVIEW 2
2) RESOURCES 3
3) TECHNOLOGY 6
4) POPULATION AND THE ECONOMY 8
5) CURRENT ECONOMIC PERFORMANCE 9
6) AGGREGATE DEMAND 13
7) AGGREGATE SUPPLY 15
8) PROBLEMS AND OBSTACLES
HINDERING ECONOMIC GROWTH 16
9) FISCAL POLICY 17
10) MONETARY POLICY 18
Finland has a highly industrialized, large free market economy which relies on abundant forest resources, capital investments and the latest technology. Its economic sector is based on manufacturing inclusive of areas such as engineering, telecommunication and the electronics industry. Finland’s agricultural sector is limited to the production of basic products which include dairy, meat and grains. Trade is significant for Finland as exports contribute to a third of its GDP. It also relies on imports of raw materials for its manufacturing and power industry. Finland is a highly developed economy with per capita matching that of UK, France and Germany. Currently, it is considered as amongst the best performing economies in EU.
Finland is a country dependent on imports when it comes to resources. It has a limited primary sector as its major focus is on manufacturing. Most of its primary activity includes extraction of timber and metal ores collected from the forests and mines present in the country. Agricultural sector is limited to the production of basic needs. The following graphs and statistics illustrate the distribution of Finland’s primary sector:
Finland’s main natural resource is timber. Timber extracted from the large number of forests present in the country is a major raw material for various secondary industries like the paper industry. The use of timber is not only restricted to providing raw material for local industry but is also exported and brings in valuable foreign exchange. The... [continues]
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