Finland Industry Sectors, Finland Industries

 

 

Finland’s industry sectors are highly developed, with a key focus on electronics and manufacturing. The industry sectors contribute significantly to the GDP of the nation and the per capita GDP is roughly equivalent to that of Belgium, the Netherlands, Sweden and Austria.[br]

Finnish industries form a key economic sector in the form of primarily manufacturing metals, engineering, wood, electronics and timber. With high volumes of production, Finland’s trade gets a lift with industries accounting for over one-third of the nation’s trade.

Finland Industry Sectors

Finland’s industry sector is dominated by the following products:

• Metals and metal products

• Electronics

• Machinery and scientific instruments

• Shipbuilding

• Pulp and paper

• Foodstuffs

• Chemicals

• Textiles

• Clothing

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However, the recession led to a decrease in productivity to negative levels and the industry’s growth rate was around -20.9% in 2009. Also, as the industry sector depends excessively on the import of raw materials, recession hampered the trade balance as well and the lower imports did not help industrial growth much.

 

However, the Finnish industry sector remains an active contributor of the national GDP and the graphs below show how the sector contributes to the total GDP (2009 estimates; in percentage):

 

The industry sector contributes significantly to the employment scenario as well. The following graph shows how this sector contributes to the overall employment scenario (2008 estimates; in percentage):[br]

 

 

The graph shows that the maximum employment was due to the industry sector, through the telecommunications, finance and commerce industries, among others.

Finland’s industry growth is projected to be slow and the economy might not reach it zenith till late 2010. The major challenge before the industry administration is to chalk out recession exit strategies that can check the unemployment rate and the dying industry growth rate.