Member of:
AfDB, AG (observer), AsDB, Australia Group, BIS, CCC, CE, CERN, CSCE, EBRD,
ECE, EFTA, ESA (associate), FAO, G-9, GATT, IADB, IAEA, IBRD, ICAO, ICC,
ICFTU, IDA, IFAD, IFC, ILO, IMF, IMO, INMARSAT, INTELSAT, INTERPOL, IOC, IOM
(observer), ISO, ITU, LORCS, MTCR, NAM (guest), NC, NEA, NIB, NSG, OAS
(observer), OECD, PCA, UN, UNCTAD, UNDOF, UNESCO, UNFICYP, UNHCR, UNIDO,
UNIFIL, UNIIMOG, UNMOGIP, UNTSO, UPU, WHO, WIPO, WMO, WTO, ZC
Diplomatic representation:
Ambassador Jukka VALTASAARI; Chancery at 3216 New Mexico Avenue NW,
Washington, DC 20016; telephone (202) 363-2430; there are Finnish Consulates
General in Los Angeles and New York, and Consulates in Chicago and Houston
US:
Ambassador John H. KELLY (as of December 1991); Embassy at Itainen Puistotie
14A, SF-00140, Helsinki (mailing address is APO AE 09723); telephone [358]
(0) 171931; FAX [358] (0) 174681
Flag:
white with a blue cross that extends to the edges of the flag; the vertical
part of the cross is shifted to the hoist side in the style of the DANNEBROG
(Danish flag)
:Finland Economy
Overview:
Finland has a highly industrialized, largely free market economy, with per
capita output nearly three-fourths the US figure. Its main economic force is
the manufacturing sector - principally the wood, metals, and engineering
industries. Trade is important, with the export of goods representing about
30% of GDP. Except for timber and several minerals, Finland depends on
imported raw materials, energy, and some components of manufactured goods.
Because of the climate, agricultural development is limited to maintaining
self-sufficiency in basic commodities. The economy, which experienced an
average of 4.9% annual growth between 1987 and 1989, sank into a deep
recession in 1991 as growth contracted by 6.2%. The recession - which is
expected to bottom out in late 1992 - has been caused by economic
overheating, depressed foreign markets, and the dismantling of the barter
system between Finland and the former Soviet Union in which Soviet oil and
gas had been exchanged for Finnish manufactured goods. The Finnish
Government has proposed efforts to increase industrial competitiveness and
efficiency by an increase in exports to Western markets, cuts in public
expenditures, partial privatization of state enterprises, and foreign
investment and exchange liberalization. Helsinki tied the markkaa to the
EC's European Currency Unit to promote stability but was forced to devalue
the markkaa by about 12% in November 1991. The devaluation should improve
industrial competitiveness and business confidence in 1992. Finland, as a
member of EFTA, negotiated a European Economic Area arrangement with the EC
that allows for free movement of capital, goods, services, and labor within
the organization as of January 1993. Finland applied for full EC membership
in March 1992.
GDP:
purchasing power equivalent - $80.6 billion, per capita $16,200; real growth
rate - 6.2% (1991)
Inflation rate (consumer prices):
2.9% (1991)
Unemployment rate:
7.6% (1991)
Budget:
revenues $35.8 billion; expenditures $41.5 billion, including capital
expenditures of NA billion (1991)
Exports:
$22.9 billion (f.o.b., 1991)
commodities:
timber, paper and pulp, ships, machinery, clothing and footwear
partners:
EC 50.25%, Germany 15.5%, UK 10.4%, EFTA 20.7%, Sweden 14%, US 6.1%, Japan
1.5%, USSR/EE 6.71% (1991)
Imports:
$21.6 billion (c.i.f., 1991)
commodities:
foodstuffs, petroleum and petroleum products, chemicals, transport
equipment, iron and steel, machinery, textile yarn and fabrics, fodder
grains
partners:
EC 45.9% (Germany 16.9%), UK 7.7%, EFTA 19.9%, Sweden 12.3%, US 6.9%, Japan
6%, USSR/EE 10.7%
External debt:
$5.3 billion (1989)
Industrial production:
growth rate - 8.6% (1991 est.)
Electricity:
13,324,000 kW capacity; 49,330 million kWh produced, 9,857 kWh per capita
(1991)
:Finland Economy
Industries:
metal products, shipbuilding, forestry and wood processing (pulp, paper),
copper refining, foodstuffs, chemicals, textiles, clothing
Agriculture:
accounts for 8% of GDP (including forestry); livestock production,
especially dairy cattle, predominates; forestry is an important export
earner and a secondary occupation for the rural population; main crops -
cereals, sugar beets, potatoes; 85% self-sufficient, but short of foodgrains
and fodder grains; annual fish catch about 160,000 metric tons
Economic aid:
donor - ODA and OOF commitments (1970-89), $2.7 billion
Currency:
markka (plural - markkaa); 1 markka (FMk) or Finmark = 100 pennia
Exchange rates:
markkaa (FMk) per US$1 - 4.2967 (January 1992), 4.0440 (1991), 3.8235
(1990), 4.2912 (1989), 4.1828 (1988), 4.3956 (1987)
Fiscal year:
calendar year
:Finland Communications
Railroads:
5,924 km total; Finnish State Railways (VR) operate a total of 5,863 km
1.524-meter gauge, of which 480 km are multiple track and 1,445 km are
electrified
Highways:
about 103,000 km total, including 35,000 km paved (bituminous, concrete,
bituminous-treated surface) and 38,000 km unpaved (stabilized gravel,
gravel, earth); additional 30,000 km of private (state-subsidized) roads
Inland waterways:
6,675 km total (including Saimaa Canal); 3,700 km suitable for steamers
Pipelines:
natural gas 580 km
Ports:
Helsinki, Oulu, Pori, Rauma, Turku; 6 secondary, numerous minor ports
Merchant marine:
80 ships (1,000 GRT or over) totaling 794,094 GRT/732,585 DWT; includes 1
passenger, 9 short-sea passenger, 16 cargo, 1 refrigerated cargo, 26
roll-on/roll-off, 12 petroleum tanker, 6 chemical tanker, 2 liquefied gas, 7
bulk
Civil air:
42 major transport
Airports:
159 total, 156 usable; 58 with permanent-surface runways; none with runways
over 3,659 m; 23 with runways 2,440-3,659 m; 22 with runways 1,220-2,439 m
Telecommunications:
good service from cable and radio relay network; 3,140,000 telephones;
broadcast stations - 6 AM, 105 FM, 235 TV; 1 submarine cable; INTELSAT
satellite transmission service via Swedish earth station and a receive-only
INTELSAT earth station near Helsinki
:Finland Defense Forces
Branches:
Army, Navy, Air Force, Frontier Guard (including Coast Guard)
Manpower availability:
males 15-49, 1,314,305; 1,087,286 fit for military service; 33,053 reach
military age (17) annually
Defense expenditures:
exchange rate conversion - $1.8 billion, 1.6% of GDP (1989 est.)
:France Geography