Latest articles and blogs
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Inflation and higher interest rates brought financial distress to a proportion of households
Due to the higher interest rates, the number of households that considered themselves over-indebted also increased among middle- and high-income households.
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IT services are a key part of Finland’s service exports
The significance of Finland’s service exports has grown rapidly. Service exports comprised about one third of the total value of exports in 2023. Finland’s service export destinations are dominated by a fairly small number of countries, the most important being the United States.
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Finland struggling to defend its market share in goods exports
Finland’s export growth has fallen behind the growth in world trade. The reasons for this include not only the unfavourable structure of Finnish exports, but also the insufficient ability of Finnish companies to export products that stand out from the competition.
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Savings help households cope with rising interest rates
For households with outstanding loans, interest payments are now taking a larger slice of their income. Savings and a strong labour market have helped households cope with the rise in the cost of living.
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Ukraine war is weakening the business environment in Finland
Manufacturing industries, in particular, are suffering from supply chain problems and rising costs. The results of a business survey show that the majority of companies believe they can replace the lost volume of exports to Russia with new markets.
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Moderate growth in Finnish companies’ non-performing loans
In an economic crisis there can be a risk of a credit slump in which loan losses weaken banks’ ability to extend credit. During the COVID-19 pandemic the risks of corporate lending have grown, but substantial loan losses have been avoided.
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Companies respond to the corona crisis by adjusting labour costs
Most Finnish companies have suffered a drop in turnover as a result of the corona crisis. Service industries are hard pressed. Cost adjustments and funding arrangements have saved jobs.
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Education pays, but the growth of educational attainment in Finland is stagnating
Educational attainment among the Finnish working-age population is still high by international standards.
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Manufacturing is not fostering labour productivity growth as it did before
The pace of labour productivity growth in Finland has faded. This is attributable to lacklustre productivity development in manufacturing as well as the increasing dominance of services in the economy.
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Finland’s long-term growth prospects moderate
The economy has recovered from the recession following the financial crisis, but growth is expected to remain below its pre-crisis level, averaging 1.5% per annum over 2026–2040.
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The influence of age, gender and education on labour supply in Finland
Education and labour market structures are important for decisions on and opportunities of employment particularly for young women and older workers.
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Higher education a solid currency in Finland
Well-educated people typically earn more than those with a lower level of education. Education also improves earnings by enhancing a person’s employment prospects.