IMD World Competitiveness Booklet 2022

Competitiveness Country Profiles

Finland Competitiveness Trends – Overall

OVERALL PERFORMANCE (63 countries)

BASIC FACTS

Rank

2018

2019

2020

2021

2022

Capital Land area (square km '000)

Helsinki

338 2021

8

0.845 2021

11

Exchange Rate (per $)

13

15

5.53 2021 46 299.2 2021 39 53,755 2021 19 3.5 2021 51 2.07 2021 18 7.80 2021 46 2.77 2021 48 0.71 2021 29 96.9 2020 46 -0.87 2020 53

16

Population - market size (millions)

Gross Domestic Product (GDP) (US$ billions)

CHALLENGES IN 2022

GDP (PPP) per capita (US$)

• Managing geopolitical risks and their economic impact. • 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.

Real GDP growth (%)

Consumer price inflation (%)

Unemployment rate (%)

Labor force (millions)

Current account balance (% of GDP)

Direct investment stocks inward ($bn)

Direct investment flows inward (% of GDP)

PROVIDED BY: ETLA Economic Research

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

1

3 6

3 3

4 6 5 6 2

7

12

15

18

36 40 32

40 40

52

PEER GROUPS RANKINGS EUROPE - MIDDLE EAST - AFRICA (40 countries)

POPULATIONS < 20 MILLION (36 countries)

2018

2019

2020

2021

2022

2018

2019

2020

2021

2022

5

7

7

8

9

10

10

11

12

12

69