After having lived for decades in the shadow of the Soviet Union, Finland is now well settled in the European Union.
Following its defeat at the hands of the Soviet Union in the Second World War, the country endured strong influence from Moscow during the Cold War, though retaining its sovereignty.
When the Soviet Union collapsed Finland joined the EU and is the only Nordic EU member to use the euro as its national currency.
The country spends heavily on education, training and research - investment which pays dividends by delivering one of the best-qualified workforces in the world.
Two pillars of the Finnish economy have been in serious decline in recent years: the timber industry, amid a drop in global demand for paper, and Nokia, once a source of national pride but which lost its spot as world leader in mobile phones in 2012, before its mobile phone unit was finally sold.
Finland has made broadband access a legal right for every citizen.
By 2015 more than 93% of the population was online, one of the highest rates of internet penetration in the European Union. Finland is ceded to Russia by Sweden, which has dominated the country since the 1300s. The Finns retain a considerable amount of autonomy.
1899 onwards - Attempt at Russification of Finland, including conscription of Finnish men into the Russian army and the imposition of Russian as an official language. Campaign of civil disobedience begins. Parliament Act establishes universal suffrage, including the right for women to stand for elected office, for the first time in Europe.
ALSO READ : Walkin Interview jobs AT Qatar - Doha
The Russian Revolution allows Finland to declare its independence.
Civil war. A rebellion by leftwing Red Guards is put down by General Carl Gustaf Emil Mannerheim. Winter War: Despite fierce resistance to invading Soviet troops, the Finns are forced to concede 10% of their territory.The Continuation War: Conflict between Finland and the Soviet Union during the Second World War, which ended in an armistice and Finland having to pay reparations. Finland signs friendship treaty with the Soviet Union, and throughout Cold War pursues a policy of friendly neutrality towards Moscow.Friendship treaty with Soviet Union of 1948 declared null and void following the collapse of the Soviet Union. Finland turns increasingly towards the west. Finland joins the European Union.
Finland has a highly industrialized, largely free-market economy with per capita GDP almost as high as that of Austria and the Netherlands and slightly above that of Germany and Belgium. Trade is important, with exports accounting for over one-third of GDP in recent years. The government is open to, and actively takes steps to attract, foreign direct investment.
Finland is historically competitive in manufacturing - principally the wood, metals, engineering, telecommunications, and electronics industries. Finland excels in export of technology as well as promotion of startups in the information and communications technology, gaming, cleantech, and biotechnology sectors. Except for timber and several minerals, Finland depends on imports of raw materials, energy, and some components for manufactured goods. Because of the cold climate, agricultural development is limited to maintaining self-sufficiency in basic products. Forestry, an important export industry, provides a secondary occupation for the rural population.
Finland had been one of the best performing economies within the EU before 2009 and its banks and financial markets avoided the worst of global financial crisis. However, the world slowdown hit exports and domestic demand hard in that year, causing Finland’s economy to contract from 2012-14. The recession affected general government finances and the debt ratio. The economy returned to growth in 2015, posting a 0.3% GDP increase before growing 1.4% in 2016.
Finland's main challenges will be reducing high labor costs and boosting demand for its exports. In June 2016, the Government enacted a Competitiveness Pact aimed at reducing labor costs, increasing hours worked, and introducing more flexibility into the wage bargaining system. The Government was also seeking to reform the health care system and social services. In the long term, Finland must address a rapidly aging population and decreasing productivity in traditional industries that threaten competitiveness, fiscal sustainability, and economic growth.
APPLY NOW