Exports are expected to grow as much as 8 percent during 2000 in part because of the weak euro. A decade ago, the economy of Finland was widely criticized for being too dependent on one sector paper and pulp. Even more oddly, Finland is more closely tied to the prospects of one company Nokia, the cell-phone giant than any other country in Europe. Nokia now accounts for about 20 percent of Finland s entire exports. If Nokia stumbles, many people worry the nation s economy could easily falter.
Economic development is uneven.
The country s big cities continue to attract IT companies with a strong base of talented workers. Although there is a shortage of IT talent, many parts of the north and east where information technology companies are not common remain depressed. That is a major reason why the overall unemployment rate in Finland remains high, at 10 percent. Information technology is not the only star attraction. In some sectors, Finland s continued efforts to privatize industry will lure foreign investors.