For centuries, the Finnish industry had relied on the country’s vast forests. This can be explained if we take into consideration the fact that about 70% of the country’s land is forest-covered. Though, the new economical and social circumstances created by globalization lead to a decline of more traditional industries. Therefore, from the 1990s Finnish industry became dominated to a larger extent by electronics and services, focusing to a greater extent on R&D and hi-tech electronics. By the end of the 1990s, an economy that had relied for centuries on the country's vast forests suddenly found itself with a completely new orientation namely electronics and services. Nevertheless, forests remained and remain an important factor of the economical life of Finland as every fifth Finn earns, directly or indirectly his or her earning from trees. Additionally, 1/4 of Finland's export revenue is derived from the forest industries as 90% of the paper made in Finland and 70% of the sawmill products are exported, mainly to Western Europe.

In order to better moderate the industry created by the utilization of the forests Finland created a strong and comprehensive forest cluster. The main role of it is to concentrate the integrated know-how. The reason is that currently technology plays an increasingly significant role in the aforementioned domain of the industry as the core products of the forest industry - pulp, paper, board and sawn goods - are supported by high-tech engineering workshops. Furthermore, chemical enterprises produce the special chemicals needed by the forest industry whereas research organizations and universities contribute their own valuable input to the cluster. 

As it is already mentioned, technology -mainly electronics and electrotechnics- have come to the fore of the Finnish industry. The main catalyst behind the explosive growth and success of the aforementioned industry has been the heavy investment in R&D which resulted in the development of an advanced know-how. Furthermore, the growth of the aforementioned industry has been further accelerated by the liberalisation of global markets. The sector's innovations have not only created entirely new products but have added new properties to conventional products. The amount of electronics in the products of other sectors continues to increase. The use of electronics and electrotechnics in manufacturing is a good example that highlights the aforementioned ascertainment. 

Nokia and the companies associated with it are undoubtedly in the forefront of the industrial boost of the country. The aforementioned companies are activated in a large spectrum of the technology industry and their activities are mainly based in Finland. Of course, there are some relatively simple operations, such as the manufacture of mobile phone cases and chargers that have already been transferred abroad. The productive units in Finland are instead left to focus on product development and on making the more demanding handsets and many of the components for them.

Services are another domain that is currently in the rise in Finland. Undoubtedly, developed economies are characterized by the considerable contribution of their service sectors in their GDP. In Finland, services’ share of the value added to the economy has risen to about 60% and it will continue to grow in the coming decades. Currently, almost a quarter of all services are produced by the public sector something that is quite unusual by international standards.

Traditionally the Finnish industry relied in forestry, the last two decades, though; new economical and industrial domains have been integrated in the socio-economical life of the country. These domains are electronics and services and most probably in the coming decades will further dominate the economic activities of Finland.