Finland Economic Forecast

Finland has a large free market economy and is a country that is highly industrialized. While people work in several sectors, the one that is considered primary is the industrial sector. For this, manufacturing of metals and woods is performed. In addition, this sector includes electronics, telecommunications, and engineering.

Finland has a large free market economy and is a country that is highly industrialized. While people work in several sectors, the one that is considered primary is the industrial sector. For this, manufacturing of metals and woods is performed. In addition, this sector includes electronics, telecommunications, and engineering.

Along with the industrial sector, Finland also has strong imports and exports. Because the economy has been so stable, the Gross Domestic Product or GDP has increased by almost 45% in the past 15 years. The great thing about Finland from an economic standpoint is that this country is considered one of the best performing of all economies in the European Union. In fact, Finland has remained so stable that while the rest of the world was impacted by the global financial crisis, somehow this country’s banks and financial institutions were able to avoid disaster. Between the strong industrial sector, fisheries, agricultural, farming, agrarian, and forestry, Finland has been able to sustain.

Finland GDP Forecast

For the 2009 Legatum Prosperity ratings, Finland was given the honor of the number one position. This particular rating looks at the quality of life and economic performance of a country and with this it means that Finland is the number one country in the world. The high quality of life and economic stability that Finland offers is evident in the Finland GDP (Gross Domestic Product, Current Prices, US Dollar). For instance, at the close of 2008, the GDP was $271.06 billion in US dollars. Then by 2009, the GDP was at $238.128 billion. For world rankings from a GDP perspective, it put the country at number 34.Now, using specific data, forecasters believe that for 2010, the numbers will virtually be unchanged, ending up at $240.41 billion.However, by the end of 2015, a more significant change is expected with the GDP closing at $275.113 billion in United States dollars.

Finland Unemployment Forecast

According the latest reports, the Finland population is around 5.5 million. Of these people, the number of people working is about 2.7 million, which puts the Finland unemployment rate at 8.5%. Interestingly, while Finland has such a stable economy, the rate of unemployment has increased from 6.4% reported in 2008. The order in which the labor force works by sector includes agriculture/forestry, industry, construction, commerce, finance/insurance/business services, transportation/communication, and public services.

Finland Inflation Rate Forecast

Regarding the Finland inflation rate, forecasters use a formula of working with averages for the given year rather than end-of period. With this, forecasts are quite accurate. In 2008, the inflation rate for this country was at 114.44% but then with an increase of 116.27%, 2009 had numbers of 116.266%. This change put Finland at number 173 for rankings around the world. Using the same formula, experts are predicting that inflation for 2010 will be only slightly higher at 117.55%. Even in 2015, forecasters do not expect to see any significant change, putting closing numbers at 127.128%.

Finland Current Account Balance Forecast

Another area that forecasters work with when putting economic numbers together is with the current account balance. When looking at the Finland current account balance, 2008 finished at $8.19 billion in US dollars. Over the next 24 months, a decline of 59.75% was experienced, which put Finland at number 30 for world rankings with closing numbers of $3.297 billion. Forecasters expect 2010 to change only a little to $4.85 billion and then in 2015, another small change with numbers being pushed to $5.214 billion (United States dollars).