Finland
Chambre de Commerce - Fiche d'information pays Dernière mise à jour: 24.09.2020
Introduction
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 gained complete independence in 1917. During World War II, Finland successfully defended its independence through cooperation with Germany and resisted subsequent invasions by the Soviet Union - albeit with some loss of territory. In the subsequent half century, Finland transformed from a farm/forest economy to a diversified modern industrial economy; per capita income is among the highest in Western Europe. A member of the EU since 1995, Finland was the only Nordic state to join the euro single currency at its initiation in January 1999. In the 21st century, the key features of Finland's modern welfare state are high quality education, promotion of equality, and a national social welfare system - currently challenged by an aging population and the fluctuations of an export-driven economy.
Source: The CIA World Factbook - Finland
Indicateurs macroéconomiques
Robust output growth is projected on the back of a rebound in exports and continued strength in domestic demand. Private consumption will keep growing steadily in 2018, thanks to a rise in earnings and employment. Inflation is expected to rise as spare capacity shrinks.
The economic recovery and past consolidation measures have stabilised the public finances. Nevertheless, rising ageing-related costs and tax cuts to alleviate the impact of the Competitiveness Pact on household income prevent the budget deficit from shrinking further. Increasing employment by enhancing work incentives and increasing efficiency in public services is essential to boost growth and maintain the government debt-to-GDP ratio on a downward trend.
Source: OECD - Economic Forecast
IMF Statistics:
| Subject descriptor | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|
| Gross domestic product, constant prices Percent change | 1.658 | 1.244 | 1.465 | 1.474 | 1.391 |
| Gross domestic product, current prices U.S. dollars (Billions) | 274.210 | 269.654 | 280.709 | 292.810 | 305.243 |
| Gross domestic product per capita, current prices U.S. dollars (Units) | 49,737.554 | 48,868.742 | 50,774.198 | 52,865.727 | 55,016.979 |
| Inflation, average consumer prices Percent change | 1.169 | 1.187 | 1.259 | 1.450 | 1.550 |
| Volume of imports of goods and services Percent change | 4.103 | 2.350 | 2.300 | 2.000 | 2.000 |
| Volume of exports of goods and services Percent change | 1.120 | 3.140 | 2.200 | 2.000 | 2.000 |
| Unemployment rate Percent of total labor force | 7.417 | 6.540 | 6.400 | 6.300 | 6.440 |
| Current account balance U.S. dollars (Billions) | -4.397 | -1.811 | -1.465 | -1.324 | -0.703 |
| Current account balance Percent of GDP | -1.604 | -0.672 | -0.522 | -0.452 | -0.230 |
Source: IMF Statistics - Finland
Le Luxembourg et le pays
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 01.03.1982 (Memorial 1982, A no.95, p.1967)
- Effective as of 01.01.1980 (Memorial 1982, A no.95, p.1967)
- Protocol of Amendment from 24.01.1990 (Memorial 1992, A no.16, p.734)
- Effective as of 01.01.1990 (Memorial 1992, A no.16, p.734)
- Protocol of Amendment from 01.07.2009(Memorial 2010, A no.51, p.901)
- Effective as of 01.01.2011 (Memorial 2010, A no.51, p.901)
Air Services agreement
- Agreement from 15.08.1961 (Memorial 1965, A, p.294)
- Effective as of 05.20.1965
Source: Administration des contributions directes
Plus d'informations
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: Mrs Janine Finck
05, Fridtjof Nansens Plads
DK - 2100 Copenhagen
Tel.: +45 35 26 82 00
Fax: +45 35 26 82 08
Email: copenhague.amb(at)mae.etat.lu
Website: http://copenhague.mae.lu/en
Economic and Commercial Attaché (AWEX) in charge of Finlande
Economic and Commercial Attaché: Mr Jean-Philippe Schklar
Alberta iela 13 (5 th floor)
1010 RIGA (Lettonie)
Tel: +371-6-703.93.21
E-mail: riga(at)awex-wallonia.com
Source: AWEX
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
- CIA World factbook on Finland
- La Finlande sur le site de l'Awex
- Finland Chamber of Commerce
- Contact Finland Directory
- Team Finland
- Entreprise Finland
- Promoting foreign investments in Finland
- Finnish Foreign Trade Promotion
- Independent media service unit of Finnish Industry & Business
La Chambre de Commerce et le pays
Evénements passés
- 20.11.2019 - 22.11.2019
Accompanied Visit to Slush Helsinki
- 09.05.2016 - 12.05.2016
State Visit to Finland
- 01.04.2014
Journée d’Opportunités d’Affaires : Suède, Danemark, Norvège et Finlande
- 26.03.2013
Journée d'opportunités d'affaires: Danemark, Finlande, Islande, Norvège, Suède