Finland

finland

Quick facts:

Territory 338,424 km2
Population 5.42 million (2013)
Currency Euro (EUR)
Capital Helsinki
Official language Finnish (90%) and Swedish (5.4%). English –  widely used business language
Memberships UN, OECD, EU, Eurozone
Real GDP per capita 30,900 EUR per inhabitant (2012)
Growth of GDP, % -0.8% (2012). Forecast: -0.6% in 2013, 0.6% in 2014, 1.6% in 2015
Average gross salary 3,190 EUR (3Q 2012)
VAT rate 24% – general rate. There is also a 14%, 10% and 0% VAT rate applied to certain categories of goods and services. (1 January 2013)
Company Income Tax 24.5% (for all types of corporate income). Expected to decrease in 2014.
Phone code +358
Top domain .fi

Finland is a Nordic country that borders with Sweden, Norway, Russia and Estonia. Finland is the 8th largest country in Europe. Politically, the country is a parliamentary republic. The country is a member of the United Nations, the European Union, the Organisation for Economic Co-operation and Development (OECD) and the Eurozone.

In the 1950’s the Finnish economy was still largely based on primary production and an agrarian labour force. The country managed to quickly transform its economy to become one of the world’s richest and technologically, economically and socially advanced countries. Today, primary production accounts for a minor share of the country’s economy and the key sectors are Services, which accounts for approximately 65% of GDP, followed by Manufacturing & Refining (ca 30%).  The country’s main industrial products include Paper & Cardboard, Electronics and various metal products. Engineering and high-tech industries are important branches of the manufacturing sector.

We have conducted various market research and business partner search projects in Finland. Please visit Our Experience section to see the specific industries of our expertise.