Although the largest economic sector of Finland is services, but of late the manufacturing sector has become the backbone of the Economy in Finland. These sectors include the electronics, forestry, engineered metal, telecommunications, paper, metal refining, forestry and the chemical industries. The biggest export sector of the Economy of Finland is electronics and telecommunications. Almost one-third of the GDP comes from trade.
The import industry includes raw materials, parts of manufactured goods and energy. Climate is largely the culprit in the under-developed agriculture industry. The deep depression in the 1990s left Finland Economy ailing for several years mainly caused due to a monetary policy. This was followed by devaluation in 1992. The main reasons for this financial insecurity were due to depressed foreign markets, economic overheating and the failure of the barter system among Soviet Union and Finland. Other factors happen to be the savings and loan crisis in the Bank of Finland as the Finnish government failed in supporting the banks resulting in a loss of more than 10 billion euros.
To Know more Finland Economy, click on the following links
- Jobs in Finland
- Finland Real Estate
- Helsinki Stock Exchange
- Finland Agriculture
- Finland Industries
