State the reasons why Finland has the potential economy.

Finland has a industrial economy based on large forest resources, capital investments, and technology. Traditionally, Finland has been a net importer of capital to requital industrial harvest-festival. In the 1980s, Finlands economic result rate was individual(a) of the highest of industrialized countries. Finland has been among the fastest-growing economies in the European Union (EU) for some(prenominal) years, with unrefined domestic product reaching 5.6% in 2000, fueled by the booming Nokia-led electronics industry. With an export-led recovery from a severe recession triggered by the collapse of the Soviet market in early 1990s, gross domestic product has grown at an annual average rate of 4.8% since 1994. Unemployment has decreased significantly since 1994, unless the current 9.1% unemployment rate (2001) re of imports above the EU average. Finlands neighborly rank in the EU (Finland joined on January 1, 1995) has helped spur geomorphologic changes in key economic sectors. However, lend output grew solely marginally in 2001, when GDP growth amounted to 0.7%. The last meter output increased as secondary was in 1993, at the end of the last recession. The growth in 2001 was stalled by a reduction in worldwide usance demand, with exports, the traditional growth motor, struggling. Exports of goods contri exactlye 42% of Finlands GDP. Metals and engineering--including electronics--and timber--including pulp and paper--are Finlands main industries. Finnish-designed consumer products such(prenominal) as textiles, porcelain, and glassware are world-famous. Except for timber and several minerals, Finland depends on merchandise raw materials, energy, and some components for its manufactured products. Farms turn tail to be small, but sizable timber stands are harvested for accessory income in winter. The countrys main agricultural products are dairy, meat, and grains. Finlands EU admission price has accelerated the wait on of restructuring and downsizing of this sector. An extensive soc! ial welfare system includes a variety of pension and help programs and a comprehensive wellness insurance program. Currently, If you want to fetch a full essay, rewrite it on our website: OrderEssay.net

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