Finland
Industry

Finland rapidly industrialized after World War II, achieving GDP per capita levels comparable to that of Japan or the UK at the beginning of the 1970s. Initially, most of the economic development was based on two broad groups of export-led industries, the "metal industry" (metalliteollisuus) and "forest industry" (metsäteollisuus). The "metal industry" includes shipbuilding, metalworking, the automotive industry, engineered products such as motors and electronics, and production of metals and alloys including steel, copper and chromium. Many of the world's biggest cruise ships, including MS Freedom of the Seas and the Oasis of the Seas have been built in Finnish shipyards. The "forest industry" includes forestry, timber, pulp and paper, and is often considered a logical development based on Finland's extensive forest resources, as 73% of the area is covered by forest. In the pulp and paper industry, many major companies are based in Finland; Ahlstrom-Munksjö, Metsä Board, and UPM are all Finnish forest-based companies with revenues exceeding €1 billion. However, in recent decades, the Finnish economy has diversified, with companies expanding into fields such as electronics (Nokia), metrology (Vaisala), petroleum (Neste), and video games (Rovio Entertainment), and is no longer dominated by the two sectors of metal and forest industry. Likewise, the structure has changed, with the service sector growing. Despite this, production for export is still more prominent than in Western Europe, thus making Finland possibly more vulnerable to global economic trends.

In 2017, the Finnish economy was estimated to consist of approximately 2.7% agriculture, 28.2% manufacturing, and 69.1% services. In 2019, the per-capita income of Finland was estimated to be $48,869. In 2020, Finland was ranked 20th on the ease of doing business index, among 190 jurisdictions.
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