Finland | Economic Forecasts | 2017-2020 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 Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 1.60 0.3 0.2 0.4 0.4 0.6 percent [+]
Unemployment Rate 10.20 9.1 7.4 7.8 9.9 7.1 percent [+]
Inflation Rate 0.80 1.7 2 2.2 2.1 2 percent [+]
Interest Rate 0.00 0 0 0 0 0.5 percent [+]
Balance of Trade -10.00 -276 -244 -58.98 -252 325 EUR Million [+]
Government Debt to GDP 63.60 63.6 63.31 64.54 63.51 68 percent [+]
MARKETS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Currency 1.12 1.06 1.05 1.04 1.03 0.86 [+]
Stock Market 4037.78 3760 3720 3600 3640 3040 points [+]
Government Bond 10Y 0.46 0.45 0.46 0.46 0.47 0.54 percent [+]
GDP Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 1.60 0.3 0.2 0.4 0.4 0.6 percent [+]
GDP Annual Growth Rate 2.80 1.2 1.4 1.2 1.3 1.8 percent [+]
GDP 232.40 238 233 246 227 270 USD Billion [+]
GDP Constant Prices 47636.00 47708 47717 47726 47737 47749 EUR Million [+]
Gross National Product 48399.00 48455 48917 48899 48889 49275 EUR Million [+]
Gross Fixed Capital Formation 10619.00 10753 10865 10836 10877 10893 EUR Million [+]
GDP per capita 45214.40 45041 45109 45177 45146 44956 USD [+]
GDP per capita PPP 38993.67 38802 38938 39074 39016 38831 USD [+]
GDP From Agriculture 1225.00 1212 1210 1204 1203 1204 EUR Million [+]
GDP From Construction 2667.00 2691 2689 2684 2692 2678 EUR Million [+]
GDP From Manufacturing 6891.00 6885 6861 6858 6858 6863 EUR Million [+]
GDP From Public Administration 7758.00 7743 7737 7733 7730 7723 EUR Million [+]
GDP From Services 28573.00 28702 28726 28755 28764 28760 EUR Million [+]
GDP From Transport 2178.00 2190 2194 2194 2191 2185 EUR Million [+]
GDP From Utilities 1559.00 1545 1542 1544 1548 1546 EUR Million [+]
LABOUR Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Unemployment Rate 10.20 9.1 7.4 7.8 9.9 7.1 percent [+]
Employed Persons 2443.00 2442 2441 2440 2440 2440 Thousand [+]
Unemployed Persons 279.00 261 254 254 254 254 Thousand [+]
Labor Force Participation Rate 66.20 66.38 66.34 66.24 66.23 66.24 percent [+]
Long Term Unemployment Rate 2.30 2.24 2.15 2.24 2.23 2.19 percent [+]
Youth Unemployment Rate 20.30 20.94 21.7 22.25 22.66 23.75 percent [+]
Labour Costs 111.08 111 111 111 111 111 Index Points [+]
Job Vacancies 56402.00 36109 38823 43794 41094 41232 [+]
Wages 3392.00 3410 3415 3422 3430 3493 EUR/Month [+]
Wages in Manufacturing 112.60 113 113 113 113 113 Index Points [+]
Population 5.49 5.5 5.49 5.49 5.49 5.5 Million [+]
Retirement Age Women 65.00 65 65 65 65 65 [+]
Retirement Age Men 65.00 65 65 65 65 65 [+]
Living Wage Family 1456.00 1507 1509 1508 1508 1508 EUR/Month [+]
Living Wage Individual 1216.40 1208 1206 1206 1205 1205 EUR/Month [+]
Productivity 104.60 99.5 104 105 101 105 Index Points [+]
Part Time Employment 363.40 365 351 365 369 364 Thousand [+]
Wages Low Skilled 1990.00 1920 1919 1918 1918 1918 EUR/Month [+]
Wages High Skilled 3390.00 3333 3329 3326 3325 3321 EUR/Month [+]
Employment Change 0.10 0.12 0.09 0.09 0.08 0.01 percent [+]
Employment Rate 68.60 68.4 68.2 68.24 68.28 68.26 percent [+]
Full Time Employment 1992.00 2050 2076 1991 1972 1990 Thousand [+]
PRICES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Inflation Rate 0.80 1.7 2 2.2 2.1 2 percent [+]
Inflation Rate Mom 0.30 0.6 0.08 0.7 0.06 0.3 percent [+]
Harmonised Consumer Prices 101.50 101 101 101 101 101 Index Points [+]
Consumer Price Index CPI 101.20 101 101 102 102 103 Index Points [+]
Core Consumer Prices 102.03 102 102 102 102 102 Index Points [+]
Core Inflation Rate 0.70 0.66 0.66 0.67 0.66 0.66 percent [+]
GDP Deflator 112.96 113 113 113 114 114 Index Points [+]
Producer Prices 1939.00 2210 2560 2750 2970 4200 Index Points [+]
Producer Prices Change 5.00 6.7 5.9 4.2 3.6 2.4 percent [+]
Export Prices 101.20 102 102 102 102 102 Index Points [+]
Import Prices 116.40 116 116 116 116 116 Index Points [+]
Cpi Housing Utilities 141.49 142 142 142 142 142 Index Points [+]
Cpi Transportation 102.60 102 102 102 102 102 Index Points [+]
Food Inflation -1.72 -1.8 -2.08 -2.13 -2.16 -2.17 percent [+]
MONEY Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Interest Rate 0.00 0 0 0 0 0.5 percent [+]
Interbank Rate -0.33 -0.33 -0.33 -0.33 -0.33 -0.33 percent [+]
Money Supply M0 18900.81 19120 19299 19474 19649 21443 EUR Million [+]
Money Supply M1 118446.00 120216 122052 123895 125734 145506 EUR Million [+]
Money Supply M2 146316.00 147186 148431 149720 151007 164608 EUR Million [+]
Money Supply M3 162464.00 161940 162287 162300 162365 162382 EUR Million [+]
Foreign Exchange Reserves 9708.00 9700 9723 9722 9722 9722 EUR Million [+]
Banks Balance Sheet 138886.00 142798 145517 144509 145067 144686 EUR Million [+]
Loans to Private Sector 77548.00 78421 78754 78877 78921 78945 EUR Million [+]
Private Debt to GDP 213.68 214 216 217 217 224 percent [+]
Central Bank Balance Sheet 644.50 730 883 955 967 961 EUR Million [+]
TRADE Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Balance of Trade -10.00 -276 -244 -58.98 -252 325 EUR Million [+]
Exports 5205.00 4707 4856 4698 4786 4759 EUR Million [+]
Imports 5215.00 5065 5004 4981 4987 4992 EUR Million [+]
Current Account -76.00 -119 -119 -117 -117 -117 EUR Million [+]
Current Account to GDP 0.00 0.2 0.35 0.52 0.61 0.74 percent [+]
External Debt 419978.00 416451 421754 406799 411926 399823 EUR Million [+]
Terms of Trade 86.60 86.32 86.3 86.29 86.29 86.29 Index Points [+]
Capital Flows -1918.00 -611 -254 -179 -166 -164 EUR Million [+]
Foreign Direct Investment 74154.00 78141 77739 77337 78133 90070 EUR Million [+]
Remittances 5.00 5 5 5 5 5 EUR Million [+]
Gold Reserves 49.14 49.14 49.14 49.14 49.14 49.14 Tonnes [+]
Weapons Sales 66.00 57.48 55.21 52.94 59.19 65.54 USD Million [+]
Terrorism Index 2.38 0.49 0.48 0.47 0.34 0.45 [+]
GOVERNMENT Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Government Debt to GDP 63.60 63.6 63.31 64.54 63.51 68 percent [+]
Government Budget -1.90 -2.4 -2.07 -2.7 -1.96 -0.9 percent of GDP [+]
Government Budget Value 213.22 -790 -536 -394 -369 -342 EUR Million [+]
Government Spending 11872.00 11578 10908 11775 10948 11640 EUR Million [+]
Government Spending to GDP 56.10 55.61 55.55 55.49 55.33 53.68 percent [+]
Government Revenues 3803.45 3976 4089 4136 4146 4143 EUR Million [+]
Government Debt 102946.00 102664 102585 102663 102631 102640 EUR Million [+]
Fiscal Expenditure 4143.25 4633 4505 4524 4514 4512 EUR Million [+]
Military Expenditure 3563.00 3590 3590 3590 3597 3630 USD Million [+]
Asylum Applications 235.00 725 743 750 752 753 persons [+]
BUSINESS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Business Confidence 4.20 4.84 5.61 6 6.21 6.46 [+]
Industrial Production 2.60 1.7 2.01 1.2 2.07 1.5 percent [+]
Industrial Production Mom 0.70 0.09 0.02 0.01 0.01 0.01 percent [+]
Manufacturing Production 2.20 2.25 1.92 2.13 1.96 2.04 percent [+]
Capacity Utilization 82.10 83.22 81.87 80.3 81.21 80.8 percent [+]
New Orders 132.20 117 114 113 113 113 Index Points [+]
Changes in Inventories 155.00 200 353 187 334 238 EUR Million [+]
Bankruptcies 447.00 438 404 377 346 256 Companies [+]
Car Registrations 9394.00 10281 10182 10224 10216 10217 Cars [+]
Leading Economic Index 1.31 1.67 1.64 1.58 1.58 1.59 percent [+]
Mining Production 15.20 8.15 7.86 7.8 7.79 7.78 percent [+]
Steel Production 348.20 340 333 338 339 338 Thousand Tonnes [+]
Competitiveness Index 5.44 5.43 5.43 5.43 5.5 5.51 Points [+]
Competitiveness Rank 10.00 10 10 10 11 11 [+]
Ease of Doing Business 13.00 13 13 13 13 13 [+]
Electricity Production 6512.00 5375 5358 6146 6096 5828 Gigawatt-hour [+]
Corruption Index 89.00 89 89 89 89 89 Points [+]
Corruption Rank 3.00 3 3 3 3 3 [+]
CONSUMER Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Consumer Confidence 21.50 7.4 17 8.5 13.98 11 [+]
Retail Sales Mom -2.10 0.8 0.21 0.3 0.15 1 percent [+]
Retail Sales Yoy 0.20 1.81 1.16 0.97 0.93 0.94 percent [+]
Consumer Spending 26811.00 27040 27138 27250 27354 28541 EUR Million [+]
Personal Savings -1.80 -1.21 -1.23 -1.27 -1.29 -1.27 percent [+]
Bank Lending Rate 0.35 0.35 0.35 0.35 0.35 0.35 percent [+]
Consumer Credit 14656.00 14770 14877 14980 15082 16145 EUR Million [+]
Gasoline Prices 1.61 1.63 1.63 1.63 1.63 1.63 USD/Liter [+]
Households Debt To Gdp 67.60 68.34 68.54 68.75 68.91 70.13 percent of GDP [+]
Households Debt To Income 112.59 113 114 115 116 122 percent [+]
HOUSING Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Construction Output 7.10 9.66 9.85 9.86 9.87 9.87 percent [+]
Housing Index 107.44 108 108 108 108 108 Index points [+]
Building Permits 2652.00 3087 2934 2914 2950 2943 [+]
Housing Starts 2436.00 2838 2769 2751 2766 2763 [+]
Home Ownership Rate 71.60 72.51 72.4 72.28 72.2 71.72 percent [+]
TAXES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Corporate Tax Rate 20.00 19.6 19.6 19.6 19.57 19.53 percent [+]
Personal Income Tax Rate 51.60 51.45 51.13 50.82 50.85 50.33 percent [+]
Sales Tax Rate 24.00 24 24 24 24 24 percent [+]
Social Security Rate 30.19 29.81 29.26 28.71 28.5 28.83 percent [+]
Social Security Rate For Companies 21.22 21.2 20.68 20.17 20.13 20.02 percent [+]
Social Security Rate For Employees 8.97 9.69 9.78 9.88 10.08 11.48 percent [+]