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Chamber of Commerce Country Factsheet Last update: 10.01.2018

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Key Indicators

338,145 km2
5,476,922 (July 2015 est.)
Government type
Finnish (official) 89%, Swedish (official) 5.3%, Russian 1.3%, other 4.4% (2014 est.)
$225 billion (2015 est.)
Growth rate
0.4% (2015 est.)



Finland was a province and then a grand duchy under Sweden from the 12th to the 19th centuries, and an autonomous grand duchy of Russia after 1809. It won its complete independence in 1917. During World War II, it was able to successfully defend its freedom and resist invasions by the Soviet Union - albeit with some loss of territory. In the subsequent half century, the Finns made a remarkable transformation from a farm/forest economy to a diversified modern industrial economy; per capita income is now among the highest in Western Europe. A member of the European Union since 1995, Finland was the only Nordic state to join the euro system at its initiation in January 1999. In the 21st century, the key features of Finland's modern welfare state are a high standard of education, equality promotion, and national social security system - currently challenged by an aging population and the fluctuations of an export-driven economy.

Source: The CIA World Factbook - Finland


Macroeconomic indicators

The economy is slowly coming out of a long recession. Economic activity was broadly flat in 2015, but is projected to strengthen in 2016. Export growth remains subdued despite the weaker euro, as global demand for capital goods has weakened and exports to Russia have collapsed. Domestic demand is being held back by rising unemployment, low income growth, weak confidence and ample spare capacity.

The budget deficit has risen above 3% of GDP for the first time since the mid-1990s. The government’s consolidation package, which is mainly based on spending cuts, will reduce the deficit, but only gradually because of the weakness of the economy. Structural reforms are essential to revive growth, ensure long-term fiscal sustainability and generate resources to support well-being.

Finland’s long-standing use of economic incentives, especially taxation, to promote green growth has considerably reduced the intensity of greenhouse gas emissions since 1990. Ambitious emission reduction targets call for the implementation of further costefficient measures, including phasing out environmentally harmful subsidies and exceptions to carbon taxation, and ensuring the efficiency of environmental regulations and direct support.

Source: OECD - Economic Forecast

IMF Statistics:

Subject descriptor20142015201620172018
Gross domestic product, constant prices
Percent change
Gross domestic product, current prices
U.S. dollars (Billions)
Gross domestic product per capita, current prices
U.S. dollars (Units)
Inflation, average consumer prices
Percent change
Volume of imports of goods and services
Percent change
Volume of exports of goods and services
Percent change
Unemployment rate
Percent of total labor force
Current account balance
U.S. dollars (Billions)
Current account balance
Percent of GDP
Colored cells are estimates

Source: IMF Statistics - Finland


Luxembourg and the country

Existing conventions and agreements

Non double taxation agreement 

In order to promote international economic and financial relations in the interest of the Grand Duchy of Luxembourg, the Luxembourg government negotiates bilateral agreements for the avoidance of double taxation and prevent fiscal evasion with respect to Taxes on Income and on fortune with third countries.

  • Convention from 03.01.1982 (Memorial 1982, A, p. 1966 )
  • Effective as of 27.03.1983 (Memorial 1983, A, p. 286)
  • Amendment from 24.1.1990 (Memorial 1992, A, p. 733 )
  • Effectiva as of 18.07.1992 (Memorial 1992, A, p. 2129 )
  • Amendment and Exchange of letters from 01.07.2009
  • Act from 31.3.2010 (Memorial 2010, A, no. 51, p. 830 )
  • Effectiva as of 04.12.2010 (Memorial 2010, A, no. 75, 19.5.2010, p. 1385)

Annuler les modificatiAir Services agreement

  • Agreement from 15.08.1961 (Memorial 1965, A, p. 294 )
  • Effectiva as of 05.20.1965

Source: Administration des contributions directes


Further information

Foreign Trade

The Statec Foreign Trade statistics provide information on the trade of goods - by product and by country. This information is collected respectively through the INTRASTAT declaration and on the basis of customs documents.

You can see the statistics on the website of the Statec.

Contact points in Finland

Embassy of the Grand Duchy of Luxembourg in Finland

Ambassador with residence in Copenhagen: 

Mr. Gérard Philipps

05, Fridtjof Nansens Plads
DK - 2100 Copenhagen
Tel.: +45 35 26 82 00
Fax: +45 35 26 82 08
Email: copenhague.amb(at) 

Honorary Consul

Honorary Consul with jurisdiction in Finland: Henrik Kuningas
Södra Esplanaden 22 A 00130
Helsinki / Helsingfors
Tel: +358 9 61 26 38 25
Fax: +358 9 60 54 78
Email: henrik.kuningas(at)  / yvonne.bjorksten(at)  / gitta.jerman(at) 

Economic and Commercial Attaché (AWEX)

Secretary: Jukka ANTTILA 
Kalliolinnantie 5
00140 Helsinki
Tel: +358 9 612 622 10
Fax: +358 9 62 58 68

E-mail: helsinki(at) 
Sources: ;

Country risk as defined by Office du Ducroire for Finland

Ducroire is the only credit insurer covering open account deals in over 200 countries. A rating on a scale from 1 to 7 shows the intensity of the political risk. Category 1 comprises countries with the lowest political risk and category 7 countries with the highest. Macroeconomics experts also assess the repayment climate for all buyers in a country.

Link: Ducroire Office - Country Risk for Finland

Other useful links