vientivetoista

Vientivetoista is a Finnish form used to describe an economy, industry, or policy that is driven by exports. The concept is commonly rendered in English as export-led or export-driven, and in Finnish it is often discussed through phrases such as vientivetoinen talous or vientivetoista kasvua. The term captures the idea that foreign demand and international markets play a central role in growth and production decisions.

In economics, vientivetoisuus refers to growth models where exports contribute a large share to GDP, employment, and productivity. It is associated with open economy characteristics, participation in international value chains, and specialization in tradable sectors. The concept is typically contrasted with domestic-demand-driven growth, where internal consumption and investment are the main growth engines.

Historical use and relevance vary by country, but export-led growth has been a prominent paradigm in many economies, notably in parts of East Asia during the late 20th century. In small open economies, including Nordic states, export performance remains a key policy objective, while policymakers also weigh domestic factors such as innovation, labor markets, and exchange rate management to support sustainable expansion.

Advantages and risks accompany vientivetoisuus: it can boost productivity, comparative advantages, and integration into global markets, but it also creates sensitivity to global demand, terms of trade, and exchange rate fluctuations. Diversification, value-added activities, and resilient supply chains are commonly recommended to mitigate these risks.

See also: export-led growth, international trade, open economy, terms of trade, diversification, exchange rate policy.