GDP in Finland
Finland - GDP
Economic growth jumps in April on resurgent manufacturing and construction
Economic activity grew a working-day adjusted 2.8% in April compared to the same month a year earlier, up from March’s revised 0.9% increase (previously reported: +1.1% year-on-year). The headline reading was supported by a sharp increase in secondary production, which captures the manufacturing and construction sectors. In addition, services output increased, albeit at a slower pace than in March. On the other hand, primary production, which includes output in the agriculture, forestry and fishing sectors, fell steeply.
A month-on-month comparison shows that economic activity on a seasonally-adjusted basis rose 0.6% in April, contrasting March’s revised 0.2% fall (previously reported: -0.3% year-on-year). Annual average year-on-year growth in economic activity accelerated to 1.9% in April from March’s 1.7%.
In June, the Bank of Finland released fresh forecasts for economic growth this year. It revised down it’s growth forecast from the 1.9% it expected in December to 1.6%. For 2020, the Bank downgraded its growth forecast from 1.7% to 1.5%. Our panelists expect an expansion of 1.7% in 2019, which is unchanged from last month’s forecast, and 1.4% in 2020.
Finland - GDP Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, annual variation in %) | -0.8 | -0.6 | 0.1 | 2.3 | 2.6 |
Finland GDP Chart
Source: Statistics Finland.
Finland Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.01 | 3.70 % | Jun 19 |
| Exchange Rate | 8.56 | -0.38 % | Jun 20 |
| Stock Market | 3,944 | 0.0 % | Jun 20 |
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Economic News
Finland: Current account deficit widens to a multi-decade high
June 14, 2019
The current account balance slumped to a EUR 4.2 billion deficit in April, deteriorating from March’s revised EUR 0.24 billion shortfall (previously reported: EUR 0.47 billion deficit) and representing the lowest reading since contemporary records began in January 2006. The main reason for April’s slump was a massive downturn in the primary income account balance, which was itself caused by a strong increase in investment income debits on the back of international company restructurings at the end of last year. In the 12 months leading up to April, the current account balance totaled a EUR 5.3 billion deficit, representing a deterioration from the EUR 1.9 billion shortfall in March. The trade balance fell to a EUR 0.2 billion deficit in April, contrasting the EUR 0.2 billion surplus in March.
Finland: Inflation slows in May
June 14, 2019
Consumer prices fell 0.2% in May compared to the previous month, contrasting the 0.6% rise logged in April.
Finland: Economic growth jumps in April on resurgent manufacturing and construction
June 14, 2019
Economic activity grew a working-day adjusted 2.8% in April compared to the same month a year earlier, up from March’s revised 0.9% increase (previously reported: +1.1% year-on-year).
Finland: Growth slumps in Q1
May 29, 2019
Economic growth slowed to 0.2% in seasonally-adjusted quarter-on-quarter terms in Q1 2019, according to a second GDP release by Statistics Finland.
Finland: Current account deficit widens in March
May 15, 2019
The current account balance fell to a EUR 0.47 billion deficit in March, down from February’s revised EUR 0.15 billion shortfall (previously reported: EUR 0.04 billion deficit).
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