Import$ and Export$

Finland is not shy when it comes to importing and exporting goods from other countries. In fact, Finland is the 36th biggest exporter of goods in the world and shipped out a recorded 96.6 billion dollars worth in 2008. In that same year, Finland imported approximately 87.5 billion worth of foreign goods into the country Finland's Top Imports & Exports 2008: Petroleum and Paper Products are Leading Finnish Exports to US http://import-export.suite101.com/article.cfm/finlands_top_imports_exports_2008#ixzz0eEEOxPGH. Imports into Finland are often food products and produce due to the fact that Finland experiences a long harsh winter with only a small window of time to grow native cultivations. Other than food, Finish people actually have a market for American automobiles and import cars such as Ford, Dodge, and Chevrolet from America. American automobile imports into Finland have risen since 2007 and account for a 1.4 billion dollar total for this year, plus a 130.5 million dollars worth of American civilian aircrafts imported into Finland for commercial use. Finland’s number one natural resource and export comes from its large and dense tree forests in the North. In paper alone, Finland exported 737.4 million dollars worth of paper products to the United States while importing no amount of goods of this category into Finland http://importexport.suite101.com/article.cfm/finlands_top_imports_exports_2008.

Finland is considered the 33rd richest country in 2008 by the CIA World Fact Book. I find it impressive that Finland can capitalize so much from their natural resources and spend zero dollars importing goods they already produce such as in the paper example. I feel that importing from other nations is useful; however, over using this tactic can result in over spending and a loss in job opportunities. Perhaps the United States has relied too heavily on outsourcing jobs and products to other countries when we could have satisfied the need within our own borders. Demonstrating how Finland imported zero dollars worth of paper products but exported 737.4 million to the United States is an ideal example of utilizing resources. I wonder what products in the United States could be/are completely independent from foreign import.

Annual Salary/Education Comparison

I would like to provide some statistical approximations which I’ve gathered from the internet in order to present a rough comparison between Finland’s average salaries with that of the United States. The people of Finland on average gross about 37,000 dollars a year in comparison to the United States which on average its citizens gross approximately 47,000 dollars a year. The United States is a much richer country than Finland; however, because Finland has a smaller population the average does not account for as many people as the United States. These statistics are pertaining to GDP per capita which is an average based on population size http://www.worldsrichestcountries.com/. From this data I have concluded that the standard of living in Finland is probably analogous to that of the United States.
Finland values education, like the United States, and secures equal opportunities for every resident in the country. Legislation provides for compulsory education and the right to free pre-primary and basic education. Most other qualifying education is also free of charges for the students, including postgraduate education at universities http://www.edu.fi/english/SubPage.asp?path=500,4699. Being that technology is one of Finland’s most prominent resources, second to forestry, I presume that the positive trend and promotion of education throughout the country plays a role in ensuring the successful future of this resource.
Although Finland isn’t a particularly large country in comparison to the World’s larger nations I feel because they value education and supply free rights to education to their citizens they instill value into their people which may correspond to the decent average salary exhibited by Finland. I believe that possibly some of the countries that don’t have a very high average salary income may consequently not have much emphasis on education as well.

Overview of Finland's Economy

Finland is the country that I will be posting blogs about this semester regarding its macroeconomic characteristics. Finland is a Nordic country which is vast with tundra and timber forests which are located in the Northern regions of the country. The Southern region of Finland is where most of the population is clumped containing approximately 5.4 million residents. Finland is a large country and ranks eighth overall in total area amongst the Eastern European countries.
Since the 1900s, a very important attribute about Finland has been its large wooded forests in the Northern regions. Finland’s major economic focus is agricultural with forestry and timber being its main focus for economic trade and export. Due to this natural resource, Finland is a free market economy which is heavily dependant on trade from other countries in order to satisfy its economic needs. The second most popular resource in Finland is technology and large industrial timber facilities which further process wood from the forests into building materials and other goods such as paper.

cite:
http://www.nationsencyclopedia.com/economies/Europe/Finland-OVERVIEW-OF-ECONOMY.html