4) Indicate the economic environment of your country by providing the following:
GNP and/or GDP (classify as low to high)
Classify your country by region
Economic system (market, command, mixed)
Economic growth and inflation
Trade deficits or surpluses
Form the above information provides a written report to an international manager wanting to conduct business in your country.
To international manager,
I would like to explain why Finland is the best place that worth to invest money on it. Actually, Finland has a high industrialization and a large free market economy. There are abundant forest resources like paper and wood, capital investments and especially technology such as electronic goods and telecommunication (cellular phones). Due to the production of Nokia that is very famous nowadays, profoundly impact the aggregate demand on both electronic industries and telecommunication companies. That's why Finland has the fastest economic growth of the economies in the European Union (EU) for several years.
West Virginia 1999-2008 Average Gross Domestic Pro...
Finland
Quarterly Gross Domestic Product (year-on-year gro...Moreover, as we can see that the GDP is growing steadily since 1990. The GDP reaches 5.6% in 2000 because of the export renders not only for the high GDP growth but also the recovery from severe recession caused by the collapse of the Soviet market in early 1990s. Once again, exports of goods occupied 42% of Finland's GDP as I have said before.
On the other hand, Finland also depends on import, particularly raw materials, energy, and some components for its manufactured products. Climatic and geographic influences will affect the agricultural development because it locates in Northern Europe and has a cold temperate, therefore it is limited to maintain self-sufficient in Finland. However, it locates between Sweden and Russia, so it is good for trading because it reduces the transportation cost. In addition, Finland introduced the Euro as a sole currency on 1 January 2002.