Finland - Economic Forecasts - 2018-2020 Outlook

This page has economic forecasts for Finland including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Finland economy.


Overview Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
GDP Growth Rate 1.10 0.4 0.5 0.5 0.5 0.6 percent
Unemployment Rate 8.40 9.9 9 7.2 7.5 7.1 percent
Inflation Rate 0.50 1.2 1.1 1.2 1.4 2 percent
Interest Rate 0.00 0 0 0 0.25 0.75 percent
Balance of Trade -335.00 -193 -148 -109 142 325 EUR Million
Government Debt to GDP 63.60 63.2 63.2 63.2 63.2 61.2 percent
MARKETS Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Currency 1.24
1.21 1.19 1.17 1.15 1.07
Stock Market 4133.60
points
3937 3833 3733 3634 2937
Government Bond 10Y 0.81
percent
1.03 1.29 1.61 2.01 4.91
GDP Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
GDP Growth Rate 1.10
percent
0.4 0.5 0.5 0.5 0.6
GDP Annual Growth Rate 3.90
percent
2.4 2.3 2.2 2.5 2
GDP 236.79
USD Billion
226 233 239 254 270
GDP Constant Prices 42488.00
EUR Million
40670 40546 40258 40025 39493
Gross National Product 50099.00
EUR Million
50573 50338 50390 50366 48533
Gross Fixed Capital Formation 11490.00
EUR Million
11656 11685 11692 11684 11052
GDP per capita 45709.08
USD
45900 45900 45900 45900 46500
GDP per capita PPP 39422.65
USD
38986 39090 39194 39299 38837
GDP From Agriculture 1270.00
EUR Million
1260 1255 1251 1246 1201
GDP From Construction 2753.00
EUR Million
2763 2762 2753 2738 2490
GDP From Manufacturing 7463.00
EUR Million
7478 7458 7443 7421 7159
GDP From Public Administration 8008.00
EUR Million
8043 8049 8055 8059 8079
GDP From Services 29373.00
EUR Million
29644 29735 29804 29850 29554
GDP From Transport 2241.00
EUR Million
2243 2240 2235 2229 2158
GDP From Utilities 1384.00
EUR Million
1374 1373 1372 1370 1351
LABOUR Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Unemployment Rate 8.40
percent
9.9 9 7.2 7.5 7.1
Employed Persons 2469.00
Thousand
2442 2426 2413 2403 2371
Unemployed Persons 227.00
Thousand
216 218 217 216 211
Labor Force Participation Rate 64.00
percent
65.41 66.38 66.35 66.22 66.22
Long Term Unemployment Rate 2.10
percent
2.11 2.12 2.13 2.14 2.26
Youth Unemployment Rate 19.90
percent
21.32 22.37 23.14 23.67 22.7
Labour Costs 107.70
Index Points
107 106 106 106 103
Job Vacancies 39424.00
34022 30212 27484 25694 21865
Wages 3391.00
EUR/Month
3395 3395 3395 3394 3356
Wages in Manufacturing 100.70
Index Points
101 101 102 102 105
Population 5.50
Million
5.52 5.52 5.52 5.52 5.56
Retirement Age Women 65.00
65 65 65 65 64
Retirement Age Men 65.00
65 65 65 65 64
Wages Low Skilled 1760.00
EUR/Month
1928 1929 1930 1931 1928
Wages High Skilled 3660.00
EUR/Month
4073 4067 4061 4056 4074
Productivity 109.00
Index Points
99.97 104 107 104 104
Part Time Employment 336.90
Thousand
366 363 344 351 350
Living Wage Family 1740.00
EUR/Month
1737 1741 1746 1750 1747
Living Wage Individual 1170.00
EUR/Month
1135 1134 1134 1133 1139
Employment Change 0.20
percent
0.13 0.11 0.09 0.08 0
Employment Rate 68.30
percent
67.98 67.83 67.82 67.78 67.65
Full Time Employment 2096.00
Thousand
1980 2062 2089 2010 2009
PRICES Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Inflation Rate 0.50
percent
1.2 1.1 1.2 1.4 2
Inflation Rate Mom 0.00
percent
0.13 0.12 0.12 0.5 0.3
Harmonised Consumer Prices 101.60
Index Points
101 101 101 101 99.34
Consumer Price Index CPI 101.51
Index Points
102 102 102 102 101
Core Consumer Prices 101.99
Index Points
102 102 102 102 102
Core Inflation Rate 0.40
percent
0.43 0.46 0.48 0.51 0.81
GDP Deflator 114.83
Index Points
115 115 115 115 115
Producer Prices 1967.00
Index Points
2970 2970 1978 3120 4200
Producer Prices Change 3.00
percent
3.6 3.6 3.2 2.9 2.4
Export Prices 102.60
Index Points
103 103 103 103 104
Import Prices 118.60
Index Points
119 119 118 118 113
CPI Housing Utilities 142.91
Index Points
143 143 143 143 141
CPI Transportation 102.32
Index Points
102 101 101 101 100
Food Inflation -0.10
percent
0.22 0.5 0.72 0.87 1.5
MONEY Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Interest Rate 0.00
percent
0 0 0 0.25 0.75
Interbank Rate -0.33
percent
-0.3 -0.21 -0.13 -0.05 0.81
Money Supply M0 19839.68
EUR Million
19774 19770 19763 19755 19668
Money Supply M1 127235.00
EUR Million
126923 126651 126512 126437 125960
Money Supply M2 153533.00
EUR Million
153230 153009 152907 152851 152398
Money Supply M3 169885.00
EUR Million
169534 169304 169201 169138 168541
Foreign Exchange Reserves 8560.00
EUR Million
8590 8557 8525 8497 8313
Banks Balance Sheet 161863.00
EUR Million
161169 159780 158281 156780 140216
Loans to Private Sector 79326.00
EUR Million
79679 79777 79765 79712 78812
Private Debt to GDP 208.35
percent
218 214 211 208 204
Central Bank Balance Sheet 599.92
EUR Million
639 684 722 754 886
TRADE Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Balance of Trade -335.00
EUR Million
-193 -148 -109 142 325
Exports 4695.00
EUR Million
4968 4846 4827 4803 4497
Imports 5030.00
EUR Million
5207 5188 5168 5149 4938
Current Account -67.00
EUR Million
63.62 94.34 110 121 141
Current Account to GDP -1.10
percent
0.5 0.5 0.5 0.5 0.7
External Debt 432565.00
EUR Million
422412 417751 417339 414766 400242
Terms of Trade 86.50
Index Points
86.4 86.47 86.56 86.66 87.77
Capital Flows 4172.00
EUR Million
489 -156 -236 -228 -220
Foreign Direct Investment 76591.00
EUR Million
75665 76730 77796 78862 76160
Gold Reserves 49.14
Tonnes
49.13 49.13 49.13 49.13 49.12
Terrorism Index 2.34
1.59 1.33 1.08 0.82 0.35
Weapons Sales 66.00
USD Million
55.5 52.58 49.65 46.72 43.49
GOVERNMENT Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Government Debt to GDP 63.60
percent
63.2 63.2 63.2 63.2 61.2
Government Budget -1.90
percent of GDP
-1.3 -1.3 -1.3 -1.3 -0.4
Government Budget Value -693.00
EUR Million
-111 -130 -148 -154 -157
Government Spending 11066.00
EUR Million
11305 11841 11162 11811 11635
Government Spending to GDP 56.10
percent
55.36 55.29 55.22 55.15 51.7
Government Revenues 3848.41
EUR Million
3748 3693 3659 3637 3594
Government Debt 106069.00
EUR Million
105096 104862 104579 104301 101146
Fiscal Expenditure 4541.20
EUR Million
4108 4003 3917 3857 3740
Military Expenditure 3242.60
USD Million
3098 3133 3168 3202 3123
Asylum Applications 310.00
persons
699 718 715 716 716
BUSINESS Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Business Confidence 15.90
Index Points
15.31 12.15 9.42 7.25 0.83
Industrial Production 4.20
percent
3.6 3.11 2.76 1.6 1.5
Industrial Production Mom 0.00
percent
0.17 0.17 0.17 0.17 0.17
Manufacturing Production 4.40
percent
4.05 3.64 3.31 3.07 2.41
Capacity Utilization 83.10
percent
83.65 83.11 82.78 82.66 82.21
New Orders 103.20
Index Points
108 108 108 108 107
Changes in Inventories -284.00
EUR Million
510 -298 48.59 -38.93 102
Bankruptcies 526.00
Companies
556 564 565 571 634
Car Registrations 13579.00
10270 10188 10242 10164 9978
Leading Economic Index 3.60
percent
3.45 3.22 3.04 2.89 2.36
Internet Speed 20451.91
KBps
21759 22795 22464 22336 20318
IP Addresses 2332434.00
IP
2413872 2431087 2444034 2455555 2497496
Steel Production 302.80
Thousand Tonnes
300 300 299 298 292
Mining Production 4.60
percent
7.6 7.69 7.7 7.7 7.7
Competitiveness Index 5.49
Points
5.45 5.45 5.45 5.45 5.47
Competitiveness Rank 10.00
9 9 9 9 2
Ease of Doing Business 13.00
13 13 13 13 13
Electricity Production 6343.00
Gigawatt-hour
6859 5324 5184 6377 5866
Corruption Index 89.00
Points
90 90 89 89 92
Corruption Rank 3.00
2 3 3 3 2
CONSUMER Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Consumer Confidence 24.20
Index Points
22.17 19.23 17.01 9.8 11
Retail Sales Mom 1.70
percent
0.26 0.27 0.28 0.6 1
Retail Sales Yoy 3.30
percent
2.87 3 3.07 3.13 3.33
Consumer Spending 27278.00
EUR Million
27432 27457 27487 27506 27397
Personal Savings -1.30
percent
-0.14 0.19 0.41 0.59 1.32
Bank Lending Rate 0.35
percent
0.37 0.43 0.5 0.56 1.28
Consumer Credit 15252.00
EUR Million
15330 15373 15395 15403 15209
Gasoline Prices 1.80
USD/Liter
1.84 1.84 1.83 1.83 1.74
Households Debt To Gdp 66.90
percent of GDP
66.51 66.35 66.17 65.98 63.17
Households Debt To Income 114.36
percent
115 115 115 115 109
HOUSING Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Construction Output 2.80
percent
3.98 4.13 4.25 4.34 4.63
Housing Index 102.19
Index points
102 102 102 102 99.11
Building Permits 4078.00
2870 2773 2794 2805 2805
Housing Starts 4376.00
2377 2600 2598 2580 2584
Home Ownership Rate 71.60
percent
71.87 71.58 71.29 71 70.25
TAXES Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Corporate Tax Rate 20.00
percent
21 21 21 21 22
Personal Income Tax Rate 51.60
percent
52 52 52 52 52
Sales Tax Rate 24.00
percent
24 24 24 24 24
Social Security Rate 32.53
percent
32 32 32 32 32
Social Security Rate For Companies 23.20
percent
24.15 24.15 24.15 24.15 24.1
Social Security Rate For Employees 9.33
percent
9.29 9.29 9.29 9.29 8.52
CLIMATE Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Precipitation 53.81
mm
27.91 39.4 63.17 43.47 44.46
Temperature -3.79
celsius
-9.54 6.1 12.31 -3.78 1.29