ed goods.
Because of the climate, agricultural development is limited to
maintaining self-sufficiency in basic products. Forestry, an important
export earner, provides a secondary occupation for the rural
population. The economy has come back from the recession of 1990-92,
which had been caused by economic overheating, depressed foreign
markets, and the dismantling of the barter system between Finland and
the former Soviet Union under which Soviet oil and gas had been
exchanged for Finnish manufactured goods. The Finns voted in an
October 1994 referendum to enter the EU, and Finland officially joined
the Union on 1 January 1995. Attempts to cut the unacceptably high
rate of unemployment and increasing integration with Western Europe
will dominate the economic picture over the next few years.

GDP: purchasing power parity - $97.1 billion (1996 est.)

GDP - real growth rate: 2.5% (1996 est.)

GDP - per capita: purchasing power parity - $19,000 (1996 est.)

GDP - composition by sector:
agriculture : 7%
industry: 37%
services: 56% (1994)

Inflation rate - consumer price index: 0.7% (1996)

Labor force:
total: 2.533 million
by occupation: public services 30.4%, industry 20.9%, commerce 15.0%,
finance, insurance, and business services 10.2%, agriculture and
forestry 8.6%, transport and communications 7.7%, construction 7.2%

Unemployment rate: 16.6% (1996)

Budget:
revenues: $25.9 billion
expenditures: $35 billion, including capital expenditures of $NA (1995
est.)

Industries: metal products, shipbuilding, pulp and paper, copper
refining, foodstuffs, chemicals, textiles, clothing

Industrial production growth rate: 7.4% (1995)

Electricity - capacity: 14.14 million kW (1994)

Electricity - production: 60.5 billion kWh (1995)

Electricity - consumption per capita: 12,373 kWh (1995 est.)

Agriculture - products: cereals, sugar beets, potatoes; dairy cattle;
annual fish catch about 160,000 metric tons

Exports:
total value: $29.7 billion (f.o.b., 1994)
commodities: paper and pulp, machinery, chemicals, metals, timber
partners: EU 46.5% (Germany 13.4%, UK 10.3%), Sweden 11%, US 7.2%,
Japan 2.1%, FSU 8.6% (1994)

Imports:
total value : $23.2 billion (c.i.f., 1994)
commodities: foodstuffs, petroleum and petroleum products, chemicals,
transport equipment, iron and steel, machinery, textile yarn and
fabrics, fodder grains
partners : EU 44% (Germany 15%, UK 8.3%), Sweden 10.4%, US 7.6%, Japan
6.5%, FSU 10.