Economic Country Review
A member of the
European Union since 1995, Finland was the only Nordic state to join the euro system at its
initiation in January 1999. In the 21st century, the key features of Finland's modern welfare state
are a high standard of education, equality promotion, and national social security system
currently challenged by an aging population and the fluctuations of an exportdriven economy
(Central Intelligence Agency, 2012, ISSN 15538133).
2.1.2 Geography
Location: Northern Europe, bordering the Baltic Sea, Gulf of Bothnia, and Gulf of Finland,
between Sweden and Russia
Area: total: 338,145 km2 land: 303,815 km2 and water: 34,330 km2
Coastline: 1250 km
Climate: cold temperate; potentially subarctic but comparatively mild because of
moderating inf luence of the North Atlantic Current, Baltic Sea, and more than 60,000
lakes
Terrain: mostly low, f lat to rolling plains interspersed with lakes and low hills
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