Finland GDP

Finland

Finland: Economy expands in Q2

September 5, 2013

In the second quarter, GDP rose 0.2% over the previous quarter in seasonally-adjusted terms, according to data released by the statistical institute on 5 September. The figure contrasted the 0.2% drop seen in the first quarter.

On the domestic side, total consumption contracted 0.2% in the second quarter (Q1: 0.0% quarter-on-quarter), reflecting a slight deterioration in private consumption (Q1: -0.3% qoq; Q2: -0.4% qoq) and a slowdown in government spending (Q1: +0.8% qoq; Q2: +0.4% qoq). Fixed investment contracted 0.1%, contrasting the 0.7% increase in Q1.

Exports of goods and services swung from a 0.2% quarter-on-quarter expansion in Q1 to a 0.1% drop in Q2. In contrast, imports expanded 0.3% in the second quarter, which contrasted the 5.3% drop recorded in the previous quarter.

In annual terms, the economy contracted 0.7% in the second quarter, which represented an improvement compared to the 3.3% drop recorded in first quarter of 2013.

The Central Bank expects the overall economy to contract 0.8% this year, before accelerating to a 0.7% expansion next year. FocusEconomics Consensus Forecast panelists expect GDP to grow 0.2% this year, which is down 0.1 percentage points from last month's projection. For 2014, the panel sees GDP expanding 1.5%.


Author:, Head of Data Solutions

Sample Report

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

Download

Finland GDP Chart


Finland GDP Q2 2013

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


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: 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

  • 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

More news

Search form