Technology Industry – Finland’s Leading Export Sector
The technology industry is Finland’s largest export sector and most significant business sector. Finnish technology companies are renowned for their strong climate handprint, advanced expertise, and globally impactful innovations. The companies in the industry operate in international markets and generate the revenue that sustains Finland’s welfare society.
Technology industry companies offer sustainable solutions to challenges faced by people, the environment, and society. The technologies and services developed and delivered by Finnish companies have a substantial positive handprint on the global level.
The companies operate on international markets and generate income for Finland that helps maintain the Finnish welfare society.
More than 50 per cent of Finland’s total exports (goods and services) come from the technology industry. Around 331,000 people are directly employed by the sector in Finland – over 16 per cent of private sector employees. When the broader societal impact is taken into account, approximately 720,000 people in Finland owe their employment to the technology industry.
Technology industry companies also play a key role in building Finland’s future success. The sector is responsible for 65 per cent of all R&D investments made by businesses in Finland. The companies invest approximately EUR 6 billion annually in Finland.
The technology industry comprises five main sectors: electronics and electrotechnical industry, mechanical engineering and metal products, metals refining, design and consulting and information technology.
Finnish expertise in environmental matters is an export asset just like the high-quality products manufactured in Finland. Industrial operations in Finland represent a global eco-act.
Five Pillars of Technology Industries
- Electronics and Electrotechnical Industry
- Revenue (2023): EUR 21 billion
- Personnel (2023): 43,100
- Example companies: ABB, Murata Electronics, Nokia, Suunto, Vaisala
- Mechanical Engineering and Metal Products
- Revenue (2023): EUR 40 billion
- Personnel (2023): 136,500
- Example companies: Fiskars, Kone, Metso, Meyer Turku, Patria, Ponsse, Wärtsilä
- Metals Refining
- Revenue (2023): EUR 14 billion
- Personnel (2023): 16,200
- Example companies: Boliden, Kuusakoski, Outokumpu, Sacotec, SSAB
- Design and Consulting
- Revenue (2023): EUR 8 billion
- Personnel (2023): 53,600
- Example companies: AFRY, Elomatic, FCG, Ramboll, Sitowise, SWECO
- Information Technology
- Revenue (2023): EUR 20 billion
- Personnel (2023): 85,200
- Example companies: Basware, F-Secure, Fujitsu Finland, IBM, Innofactor, Microsoft, TietoEVRY