Nature and economy: the perfect combination…?

Hey guys!

Until now, we explored Finland as one of the world’s most beautiful countries. Matthias and Lisa already told you some general information about Finland, now I’m going to say something more about the Finnish economy and the relationship with their nature.

Finland is a very industrialized country with a nominal GDP (Gross Domestic Product) of 33.500 euro, which is quite astonishing for me. I knew that the country wasn’t poor at all, but neither I knew that they were so prosperous. As for other countries, services provide the bulk of the market with about 66 %.
The main ingredients of the Finnish economy are: electronics, machinery & vehicles, chemicals and last but not least the forest industry.

The OESO confirmed that Finland is Europe’s  number 2 when it comes to high-tech industry. Only Ireland scores better. But what makes Finland such a modern and high-tech country…? That’s something I like to find out. Nokia is a communications company we all heard off, which is at the same time a Finnish multinational known all over the world. Moreover, Nokia is Finland’s biggest company. This explains why Finland is such a major player in high-tech industry.

We all know that there are a lot of forests and woodlands situated in Finland. With a little common sense, we can deduce that timber is a huge source of income for Finns. No less than 13 percent of the manufacturing industry is due to forestry. Not only this forestry is an important source for economic prosperity, also the several mineral and freshwater resources are economic opportunities given by mother nature.

First I explained some information about the several Finnish industries and their characteristics. Now I’m going to mention something more about the economy in general. Finland is a country that’s well integrated in the global economy. The European Union is a very important business partner for Finland, because they cover over 60 % of the Finnish trade. The largest trading partners are: Sweden, Netherlands, Germany, Russia, United Kingdom, United States and China. Moreover the introduction of the Euro was a great opportunity for Finland, because the country depends on foreign trade. The introduction of this coin facilitates this European trading process.

Now, what’s the state of wealth for the Finnish residents themselves? I can remark that 74 % of the households have a car, that around 92 % of the population has a mobile phone and that 85 % of the inhabitants has an internet connection at home.

Our trip in Finland was quite interesting and breathtaking. So with pain in our hearts, we say goodbye to this beautiful country. Off to the last one: Iceland, here we come!

Jorick Verschraegen
Finland week 11 (economy)       

Source: http://en.wikipedia.org/wiki/Finland#Economy