In the fourth quarter, GDP increased a seasonally adjusted 1.7% over the previous quarter, which represented an improvement compared to the third quarter's 0.4% expansion. As a result of the robust reading, the economy grew 3.1% in the full year 2010, following on a severe 8.2% contraction in 2009. The acceleration over the previous quarter was mostly fuelled by developments in the external sector. Exports increased a robust 6.6% (Q3: +0.1% qoq), while imports contracted 4.6% (Q3: +6.1% qoq). As a result, the net contribution from the external sector to overall growth improved significantly, rising from minus 2.3 percentage points in the third quarter to plus 5.0 percentage points in the fourth. That said, the domestic sector also showed signs of improvement. Domestic demand growth of 0.5% over the previous quarter (Q3: +0.4% qoq) was mostly driven by an increase in private consumption, which expanded 1.0% (Q3: +0.8% qoq). Government spending also inched up to a 0.5% increase (Q3: +0.4% qoq). Only investment slowed, moderating the pace of expansion from a 2.7% increase in the third quarter to a 0.7% expansion in the fourth.
Growth picks up amid stronger external demand
March 1, 2011
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Finland Economic News
October 14, 2016
The current account posted a EUR 166 million deficit in August, according to Statistics Finland.
October 14, 2016
In August, economic activity fell a working-day adjusted 0.1% over the same month last year, according to the Monthly Trend Indicator of Output.
September 15, 2016
In July, economic activity expanded a working-day adjusted 1.5% over the same month last year, according to the Monthly Trend Indicator of Output.
September 6, 2016
The Finnish economy recorded flat growth in Q2 over the previous quarter in seasonally-adjusted terms, which represented a slowdown from Q1’s 0.3% expansion, according to preliminary data released by Statistics Finland on 6 September.
August 15, 2016
The current account posted a EUR 219 million deficit in June according to Statistics Finland.