Finland GDP Q1 2016

Finland

Finland: GDP grows modestly in Q1

June 3, 2016

According to preliminary data released by Statistics Finland on 3 June, the Finnish economy expanded a seasonally-adjusted 0.6% in Q1 2016 over the previous quarter, which represented a slight improvement from Q4’s revised 0.5% expansion (previously reported: +0.1% quarter-on-quarter). In annual terms, GDP registered a 1.2% rise in Q1 (Q4: +1.3% year-on-year).

The slight improvement was mainly driven by stronger private consumption, which increased by 0.6% following 0.3% growth in Q4. Growth was held back by lower public spending, which contracted 0.3%, contrasting a 0.7% expansion in the previous quarter. Fixed investment grew 0.4% in Q1 (Q4: +0.6% quarter-on-quarter).

On the external front, exports dropped a seasonally-adjusted 1.1% in Q1, which contrasted the 0.6% expansion observed in Q4. Imports fell 1.8% in Q1, which was a significant reversal from the 2.0% growth registered in Q4. As a result, the external sector’s net contribution to GDP growth advanced from minus 0.6 percentage points in Q4 to plus 0.3 percentage points in Q1.

The Central Bank expects the economy to expand 0.7% in 2016 and 1.0% in 2017. FocusEconomics Consensus Forecast panelists are almost in line with the Central Bank’s forecast and expect the economy to expand 0.7% in 2016, which is unchanged from last month’s projection. For 2017, the panel sees GDP expanding 1.1%.


Author:, Economist

Sample Report

Looking for forecasts related to GDP in Finland? Download a sample report now.

Download

Finland GDP Chart


Finland GDP Q1 2016

Note: Quarter-on-quarter changes of seasonally-adjusted GDP in %.
Source: Statistics Finland and FocusEconomics Consensus Forecast.


Finland Economic News

  • Finland: Growth in economic activity slows in December

    February 14, 2018

    Economic activity grew a working-day adjusted 3.6% in December compared to the same month of the previous year, down from November’s revised 4.3% increase (previously reported: +3.5% year-on-year).

    Read more

  • Finland: Economic activity gathers pace in November despite slower services growth

    January 16, 2018

    In November, economic activity grew a working-day adjusted 3.5% compared to the same month of the previous year, up from October’s revised 3.2% increase (previously reported: +2.6% year-on-year).

    Read more

  • Finland: Current account surplus shrinks in November

    January 15, 2018

    According to Statistics Finland, which heavily revised its historical data this month, the current account showed a EUR 0.09 billion surplus in November last year, less than the revised EUR 0.18 billion surplus recorded in October (previously reported: EUR 0.54 billion). In the 12 months leading up to November, the current account surplus widened to EUR 1.4 billion, compared to October’s revised cumulative 12-month surplus of EUR 1.2 billion (previously reported: EUR 0.18 billion). The trade surplus narrowed in November against the previous month, recording net inflows worth EUR 181 million compared to October’s revised EUR 284 million surplus (previously reported: EUR 279 million surplus).

    Read more

  • Finland: Economic growth slows to 10-month low in October

    December 15, 2017

    In October, economic activity grew a working-day adjusted 2.6% over the previous year, down from September’s revised 3.4% increase (previously reported: +3.8% year-on-year).

    Read more

  • Finland: Current account surplus bounces back in October

    December 15, 2017

    The current account surplus came in at EUR 0.54 billion in October, higher than both the EUR 0.08 billion surplus recorded in the previous month and the EUR 0.26 billion surplus totaled in the same month last year. In the 12 months leading up to October, the current account deficit narrowed to EUR 0.18 billion, compared to September’s cumulative 12-month deficit of EUR 0.46 billion. The trade surplus widened marginally in October over the previous month, recording net inflows worth EUR 279 million compared to September’s EUR 220 million surplus.

    Read more

More news

Search form