IMD World Competitiveness Booklet 2021

COMPETITIVENESS TRENDS - OVERALL FINLAND

OVERALL PERFORMANCE (64 countries)

BASIC FACTS Capital Land area (square km '000)

Rank

Helsinki

2017 2018 2019 2020 2021

338 2020

0.876 2020 5.53 2020 271.2 2020 49,805 2020

11

Exchange Rate (per $)

13

15

15

16

49

Population - market size (millions)

CHALLENGES IN 2021 The step-by-step opening of the economy and return to normal. Decreasing the general budget deficit and lowering the public-debt- • The step-by-step opening of the economy and return to normal. • Decreasing the general budget deficit and lowering the public- debt-to-GDP ratio. • Reforming social benefit system to decrease disincentives to work. • Promoting R&D to improve quality competitiveness of the business sector. • Reaching wage agreements that support international price competitiveness of exports.

39

Gross Domestic Product (GDP) (US$ billions)

19

GDP (PPP) per capita (US$)

-2.8 2020 0.38 2020 7.90 2020 2.74 2020 0.30 2020 78.4 2019 5.86 2019

16

Real GDP growth (%)

24

Consumer price inflation (%)

43

Unemployment rate (%)

50

Labor force (millions)

39

Current account balance (% of GDP)

48

Direct investment stocks inward ($bn)

ETLA Economic Research Provided by: ETLA Economic Research

7

Direct investment flows inward (% of GDP)

COMPETITIVENESS LANDSCAPE

Economic Performance

Government Efficiency

Business Efficiency

Infrastructure

Domestic Economy

International Trade

International Investment Employment Prices

Public Finance

Tax Policy

Institutional Framework Business Legislation

Societal Framework

Productivity & Efficiency Labor Market Finance

Management Practices

Attitudes and Values

Basic Infrastructure

Technological Infrastructure Scientific Infrastructure

Health and Environment Education

2

4

5

5 5

6

10

11

11

12

14

15

17

18

24

33

37 37

39

59

PEER GROUPS RANKINGS EUROPE - MIDDLE EAST - AFRICA (41 countries)

POPULATIONS < 20 MILLION (35 countries)

2017 2018 2019 2020 2021

2017 2018 2019 2020 2021

7

8

9

10

10

10

11

11

12

12

68

IMD WORLD COMPETITIVENESS BOOKLET 2021