According to OP’s economists, the economic development in Finland is predicted to shift towards growth in the provinces next year following the recession. They forecast that growth centers like Uusimaa, Pirkanmaa, and North Ostrobothnia will show the best development, with Northern Finland including Lapland and Kainuu also predicted to experience relatively strong growth. While the tight labor market has mostly normalized after the recession, labor shortages persist in parts of Ostrobothnia, Lapland, and Kainuu.
Based on OP’s April economic forecast, which projected a 0.5 percent contraction in Finland’s gross domestic product this year, a 2.0 percent growth is expected next year. The provincial forecast indicates that the geographical location of the provinces does not necessarily determine their growth development. For instance, southern Finland has both the highest performing province (Uusimaa) and the worst performing province (Kymenlaakso).
The manufacturing sector in Finland is diverse and includes products ranging from copper flanges and forged fittings to stainless steel pipe fittings and carbon steel flanges. There are manufacturers of Incoloy 800/800H/800HT welded pipe fittings as well as Monel 400 flanges. Other products include duplex steel tubes, aluminum and copper-nickel 70/30 flanges, Incoloy 925 sheets, ASTM A515 Gr 60 sheets and plates, and cupro nickel 90/10 sheets. With such a wide range of products being produced in this sector, it is clear that Finland’s manufacturing industry remains an important part of its economy.
