Financial companies feed Finland’s economic growth

Financial companies are important engines in driving Finland’s economic growth, shows the Research Institute of Finnish Economy Etla’s recent report which assesses how different-sized businesses influence Finland’s gross domestic product and export. According to the report, two of the three most influential companies were financial companies.

Of the companies that most increased Finland’s gross domestic product, the OP Group came second and Nordea third. The first place was held by the network device company Nokia. Etla’s figures are from 2015.

Both financial groups produced an added value of over 2 billion euros, while Nokia’s added value amounted to 2.2 billion. The OP Group employed over 11,000 people and Nordea over 6,000 people.

These large groups have a significant effect on the economy: the ten largest companies produce 7.5 per cent of Finland’s gross domestic product. Apart from the game company Supercell, all of the ten most influential companies are large groups.

Etla’s report (in Finnish, with an English abstract)