GDP in Finland

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Economic activity growth slows to 11-month low in December

Economic activity grew a working-day adjusted 0.5% in December from the same month a year earlier, down from November’s revised 1.6% reading (previously reported: +2.3% year-on-year), according to Statistics Finland’s latest monthly Trend Indicator of Output release.

The deceleration in December, which marked the slowest rate of expansion since January 2019, came on the back of a contraction in the primary sector—encapsulating agriculture, forestry and fishing sub-sectors—which had posted mild growth in the previous month. Furthermore, activity in both the secondary sector, which includes manufacturing and construction, and the services sectors grew at a more moderate pace than in November.

A month-on-month comparison showed that economic activity on a seasonally-adjusted basis shrank 0.4% in December, having remained unchanged in November (previously reported: +0.3% yoy). Meanwhile, average annual growth in economic activity was unchanged at the previous month’s 1.5% in December at 1.5%.

Our panelists expect economic expansion of 1.1% in 2020, which is unchanged from last month’s forecast, and 1.2% in 2021.

Finland - GDP Data

2014   2015   2016   2017   2018  
Economic Growth (GDP, annual variation in %)-0.6  0.5  2.8  3.0  1.7  

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Finland GDP Chart


Finland GDP
Note: Annual variation of gross domestic product (GDP) in %.
Source: Statistics Finland.

Finland Facts

Value Change Date
Bond Yield0.033.70 %Dec 30
Exchange Rate8.78-0.38 %Jan 01

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Economic News

  • Finland: Economic activity growth slows to 11-month low in December

    February 14, 2020

    Economic activity grew a working-day adjusted 0.5% in December from the same month a year earlier, down from November’s revised 1.6% reading (previously reported: +2.3% year-on-year), according to Statistics Finland’s latest monthly Trend Indicator of Output release. The deceleration in December, which marked the slowest rate of expansion since January 2019, came on the back of a contraction in the primary sector—encapsulating agriculture, forestry and fishing sub-sectors—which had posted mild growth in the previous month.

    Read more

  • Finland: Current account rebounds to surplus in December

    February 13, 2020

    The current account surplus widened to EUR 0.8 billion in December contrasting the revised EUR 0.1 billion deficit in November (previously reported: EUR 0.3 billion surplus) and the EUR 0.2 billion deficit recorded in December 2019. In the 12 months leading up to December, the current account balance clocked a deficit of EUR 0.3 billion, marking an improvement from the EUR 1.2 billion shortfall in November and the best result since September 2011.

    Read more

  • Finland: Economic activity growth accelerates in November

    January 15, 2020

    Economic activity grew a working-day adjusted 2.3% in November from the same month a year earlier, up from October’s revised 1.9% reading (previously reported: +1.5% year-on-year), according to Statistics Finland’s latest monthly Trend Indicator of Output release. The uptick in November came on the back of a rebound in the primary sector—encapsulating agriculture, forestry and fishing sub-sectors—which had slumped in the previous month.

    Read more

  • Finland: Inflation ticks up in December

    January 14, 2020

    Consumer prices rebounded 0.1% in December compared with the previous month, reversing November’s 0.1% downtick.

    Read more

  • Finland: Current account surplus tightens in November

    January 13, 2020

    The current account surplus tightened to EUR 0.2 billion in November from a revised EUR 1.0 billion in October (previously reported: EUR 0.5 billion).

    Read more

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