IMD World Competitiveness Booklet 2023

Competitiveness Country Profiles

Finland Competitiveness Trends – Overall

OVERALL PERFORMANCE (64 countries)

BASIC FACTS

Rank

2019

2020

2021

2022

2023

Capital Land area (square km '000)

Helsinki

338 2022

8

0,950 2022

11

11

Exchange rate (per $)

13

15

5,56 2022 47 280,8 2022 41 58.454 2022 19 2,1 2022 53 7,17 2022 24 6,80 2022 46 2,81 2022 49 -3,87 2022 47 98,5 2021 47 8,05 2021 10

Population - market size (millions)

Gross Domestic Product (GDP) (US$ billions)

CHALLENGES IN 2023

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 the social benefits system to decrease disincentives to work. • Promoting R&D to improve the quality competitiveness of the business sector. • Improving access to skilled labor.

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 & Values

Basic Infrastructure

Technological Infrastructure Scientific Infrastructure

Health & Environment Education

3

3

4

5

5 5

8

9

9

11

13

17

17

18

20

30

37

47

52

56

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

POPULATIONS < 20 MILLION (37 countries)

2019

2020

2021

2022

2023

2019

2020

2021

2022

2023

5

7

7

7

8

9

9

10

10

12

73