Essay Wow!

Comparing Economic Characteristics

In this essay I’m going to compare and contrast Sweden and Finland’s economic characteristics. Compare means to show all the similarity between things and contrast means the show all the differences between things. Economic characteristics are how people earn and spend their money in their country. It’s interesting how two countries so close together geographically can have so many similarities and differences.

Natural resources are very important to both countries economies. Sweden is a big producer of iron ore and other natural minerals. Finland is not a big producer of minerals. They lack in coal, oil, and most of the other natural minerals. Over half of Sweden is covered in forests. Finland also has lots of forests. The government owns one-third of their northern forest and timber is Finland’s biggest export. They are a world leader in the pulp and paper market.

The two countries have different money systems. In Sweden they use krona and you have to use eight and a half krona to equal one U.S. dollar. In Finland the call their money finmark and one finmark equals one U.S. dollar.

Both Finland and Sweden joined the EU (European Union) in 1994. Both countries have socialist governments. Both countries have very well-developed health care systems. Both countries spend approximately 8.8% of their GNP on health care costs.

Finland and Sweden both have a free-market economy. This is a good thing because this means that the government can’t put prices on someone else’s products. This means people get to put their own prices on their own products. Finland has a very high unemployment rate at ten percent and Sweden on the other hand has a lower one at five point five percent.

Finland and Sweden agriculturally produce different things. Finland produces cereals, sugar beets, potatoes, dairy cattle, and fish. Sweden agriculturally produces other things like grains, sugar beets, potatoes, meats, and milk. Finland has more than twice as much agricultural output as Sweden. Finland has five percent output and Sweden has two percent output. Finland is a low-lying country with over 60,000 lakes. This probably makes for more fertile soil and better growing conditions.

Both Sweden and Finland have huge, long coastlines. This is very good for their economies because of all the importing and exporting they can do on the harbors. Finland is a great place for fishing. A great place where fish are caught and sold on the spot is Helsinki, Finland. Sweden is also a very large fishing country, most fisherman start out being cod fishermen.

Both Finland and Sweden place a very high degree of importance on preserving the environment. They have strict laws on industrial emissions allowed and a high level of nuclear safety. Hydroelectricity is a very important type of electricity in both countries. Sweden is a higher hydroelectricity producer at forty-six point five percent and Finland only has twenty-six percent of their electricity produced this way.

Imports and exports are very important to both countries economies. Sweden spends a lot more on imports, sixty-eight billion to be exact. Finland only spends thirty-one billion dollars on imports. They both have the same top two import partners. The first is Europe and in second is Germany. Sweden makes eighty-six billion a year on exports. Finland on the other hand only makes forty-three billion a year on exports. Sweden and Finland’s top three export partners are also the same. The first is Europe and in second is Germany and in third is the U.K.

Sweden is a big producer of well-known cars like Volvo and Saab. These cars made in Sweden are exported all over the world. Finland on the other hand does not produce or export cars.

These two countries climates are very similar. This is mostly due to their geographical location. Both countries border the Gulf of Bothnia and the Baltic Sea. They actually share a land border in the northern part of both countries. Both countries northernmost land is within the Arctic Circle. Northern Finland has a humid-continental climate and the central-south has a subtropical climate. Sweden has the same climates just in different parts of the country. Sweden has a humid-continental climate in the central-south and in the north there is a subtropical climate. Their average temperatures and average annual rainfall amounts are very similar.

Both Sweden and Finland are Scandinavian countries. The Scandinavian languages are similar in alphabetical characters but they each have their own distinct language. The Swede’s speak Swedish and the Finn’s speak Finnish. Small percentages of their populations actually share the same language. Six percent of Sweden’s population speaks Finnish and 3% of Finland’s population speaks Swedish.

The people of both countries have similar religious beliefs. The primary religion in both countries is Evangelical Lutheran. Ninety-four percent of Sweden’s population and 89% of Finland’s population practice this religion.

After comparing and contrasting the two counties I have come to the conclusion that Sweden and Finland are pretty similar. They have similar geographical location and climates. Their people have similar religious beliefs, enjoy art and place a lot of importance on preserving the environment. They’re government structures are similar since they are both socialist countries. Sweden’s economy is stronger than Finland and this is probably due to the difference in natural resources and the type of imports and exports out of Sweden. I think both places would be a good place to live, but you would have to like cold weather! In doing this essay I learned a lot on how Sweden and Finland are similar and different.

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