Finland
.svg)
The light green area is the rest of the European Union
Finland was the 42nd largest economy in the world by nominal GDP in 2018. GDP per capita is $44,648 USD, which is above the average for high income and OECD countries. Finland is strong in manufacturing, particularly in the wood, metals, engineering, telecommunications, and electronics industries. It also has a strong ICT sector. It is ranked 5th in the World Bank's Human Capital Index and 8th in terms of Economic Complexity (2017). It is a member of the EU and OECD. Services was the largest economic sector in 2018 (59 percent of GDP), followed by manufacturing (15 percent), and agriculture (2 percent). In 2017, the largest export sectors were services (29 percent), agriculture (15.34 percent), machinery (11 percent), metals (9 percent), and chemicals (8 percent). The largest individual exports were ICT services (21 percent), refined petroleum (4.8 percent), paper and paperboard (4.2 percent), and transport (4.1 percent). Its largest export partners were Germany (12.6 percent), Sweden (9.85 percent), USA (7.92 percent), the Netherlands (6.1 percent), and China (5.28 percent). The largest goods imports were crude oil (5.71 percent), cars (4.08 percent), and refined petroleum (3.15 percent). Reforms in the 1860s laid the foundation for Finland's modernisation, including the introduction of its own currency. In 1917 it declared independence from Russia. Post World War Two, the economy was still dominated by agriculture and wood, but from the 1950s, industrialisation increased as Finland rebuilt after the war and had to provide manufactured goods to Russia for reparations. The oil crisis slowed growth in the 1970s with increased trade to Russia compensating. With the collapse of the Soviet Union, trade was hit hard, but from the 1990s the electrical engineering and electronics sectors grew, outstripping wood as the leading export. Finland was turning towards knowledge-based industries becoming the diverse economy it is today. Despite sound macroeconomic fundamentals, the 2008-09 global financial crisis hit hard and was compounded by the collapse of Nokia's mobile phone market share. The economy initially recovered but then contracted between 2012 and 2014 due to several factors including sanctions on Russia because of its conflict with Ukraine and a collapse in the price of paper. Structural reforms such as the 2016 Competitiveness Compact with unions has helped the economy recover since and are the key to future growth.
Its population in 2018 was 5,542,517 [
In 2015, 43.24% of its total energy 
In 2021, its GDP grew by 3.47% [
In 2021 it had a positive Current 
Its unemployment rate in 2021 was 7.63% [
Its Expenditure on R&D (as a percentage of 
