Here is your first Forum » Economy of Finland

Finland is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developed nation, Finland is able to provide its citizens with social services like public education, healthcare, and law enforcement. Citizens of developed nations enjoy a high standard of living and longer life expectancies than citizens of developing nations. Each year, Finland exports around $75.7 billion and imports roughly $70.67 billion. 8.5% of population in the country are unemployed. The total number of unemployed people in Finland is 471,114. In Finland, 5.5% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Finland is low, indicating that it has a stable economy. Investors should consider Finland to be a safe location for investments and other financial ventures. Government expenditure on education is 5.9% of GDP. The Gini Index of the country is 26.8. Finland is experiencing high equality. Differences in income among citizens are only mildly significant. Finland has a Human Development Index (HDI) of 0.879. Finland has a very high HDI score. This indicates that nearly all citizens are able to attain a desirable life because of social and economic support; citizens with a low standard of living receive aid and support and have the opportunity to advance in society. The Global Peace Index (GPI) for Finland is 1.277. Due to strong law enforcement presence and high social responsibility, Finland is very safe by international standards. The strength of legal rights index for Finland is 7. Overall, it is considered to be rather adequate - bancrupcy and collateral laws are able to protect the rights of borrowers and lenders at least decently; credit information is msotly sufficient and generally available.

Currency
The currency of Finland is euro. There are several plural forms of the name 'euro'. These are euro, euros. The symbol used for this currency is €, and it is abbreviated as EUR. The euro is divided into Cent; there are 100 in one euro.

Credit rating
The depth of credit information index for Finland is 6, which means that information is mostly sufficient and quite detailed; accessibility is not a problem. According to the S&P credit-rating agency, Finland has a credit rating score of AA+, and the prospects of this rating are negative. According to the Fitch credit-rating agency, Finland has a credit rating score of AAA, and the prospects of this rating are stable. According to the Moody's credit-rating agency, Finland has a credit rating score of Aaa, and the prospects of this rating are stable.

Central bank
In Finland, the institution that manages the state's currency, money supply, and interest rates is called Bank of Finland. Locally, the central bank of Finland is called Suomen Pankki. The average deposit interest rate offered by local banks in Finland is 1.07%.

Public debt
Finland has a government debt of 18.1% of the country's Gross Domestic Product (GDP), as assessed in 2012.

Tax information
The corporate tax in Finland is set at 20%. Personal income tax ranges from 6.5% to 30%, depending on your specific situation and income level. VAT in Finland is 24%.