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 Q2/18 Q3/18 Q4/18 Q1/19 2020
GDP Growth Rate 1.10 0.5 0.5 0.5 0.6 0.6 percent
Unemployment Rate 8.80 8.5 7.4 7.9 8.7 7.1 percent
Inflation Rate 0.80 0.8 1.2 1.6 1.6 2 percent
Interest Rate 0.00 0 0 0 0.25 0.75 percent
Balance of Trade -160.00 -140 -220 -250 -200 -380 EUR Million
Government Debt to GDP 61.40 59.5 59.5 59.5 57.6 54.2 percent
MARKETS Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Currency 1.18
1.21 1.19 1.17 1.15 1.08
Stock Market 4335.08
points
3799 3683 3571 3461 3057
Government Bond 10Y 0.70
percent
0.75 0.93 1.15 1.42 3.33
GDP Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
GDP Growth Rate 1.10
percent
0.5 0.5 0.5 0.6 0.6
GDP Annual Growth Rate 2.80
percent
2.5 2.2 2.5 2.6 2
GDP 236.79
USD Billion
241 244 254 262 270
GDP Constant Prices 49494.00
EUR Million
49676 49697 50731 50052 52884
Gross National Product 50849.00
EUR Million
50846 51222 52120 51153 54332
Gross Fixed Capital Formation 11215.00
EUR Million
11161 11383 11495 11302 11983
GDP per capita 45709.08
USD
45900 45900 45900 46200 46500
GDP per capita PPP 39422.65
USD
39222 39369 39516 39630 39636
GDP From Agriculture 1267.00
EUR Million
1278 1286 1299 1334 1354
GDP From Construction 2730.00
EUR Million
2753 2757 2798 2780 2917
GDP From Manufacturing 7421.00
EUR Million
7469 7420 7607 7736 7929
GDP From Public Administration 8090.00
EUR Million
8202 8183 8292 8221 8644
GDP From Services 29723.00
EUR Million
29741 29811 30466 29973 31759
GDP From Transport 2266.00
EUR Million
2251 2265 2323 2264 2421
GDP From Utilities 1360.00
EUR Million
1362 1369 1394 1397 1453
LABOUR Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Unemployment Rate 8.80
percent
8.5 7.4 7.9 8.7 7.1
Employed Persons 2476.00
Thousand
2447 2434 2423 2413 2371
Unemployed Persons 240.00
Thousand
237 238 238 238 238
Labor Force Participation Rate 65.90
percent
66.5 65.99 65.9 66 66
Long Term Unemployment Rate 2.00
percent
2.12 2.13 2.14 2.15 2.26
Youth Unemployment Rate 18.90
percent
19.05 19.77 20.15 19.89 19.58
Labour Costs 107.64
Index Points
108 108 108 108 108
Job Vacancies 65243.00
37370 50662 43710 47190 46049
Wages 3398.00
EUR/Month
3405 3410 3420 3422 3460
Wages in Manufacturing 100.70
Index Points
100 100 102 100 100
Population 5.50
Million
5.52 5.52 5.52 5.51 5.56
Retirement Age Women 63.00
63 63 63 63 63
Retirement Age Men 63.00
63 63 63 63 63
Wages Low Skilled 1760.00
EUR/Month
1827 1827 1827 1827 1868
Wages High Skilled 3660.00
EUR/Month
4000 4000 4000 4000 4074
Productivity 107.90
Index Points
108 107 107 107 107
Part Time Employment 376.70
Thousand
373 336 370 339 359
Living Wage Family 1740.00
EUR/Month
1740 1740 1740 1748 1747
Living Wage Individual 1170.00
EUR/Month
1134 1134 1133 1135 1140
Employment Change 1.20
percent
0.68 0.34 0.53 0.42 0.46
Employment Rate 70.00
percent
69.74 69.29 70.31 70.3 70.03
Full Time Employment 2033.70
Thousand
2042 2096 2049 2090 2066
PRICES Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Inflation Rate 0.80
percent
0.8 1.2 1.6 1.6 2
Inflation Rate Mom 0.20
percent
0.11 0.11 0.5 0.11 0.3
Harmonised Consumer Prices 102.30
Index Points
102 103 103 104 107
Consumer Price Index CPI 102.00
Index Points
102 103 103 103 107
Core Consumer Prices 102.22
Index Points
103 102 102 102 103
Core Inflation Rate 0.20
percent
0.47 0.45 0.45 0.45 0.45
GDP Deflator 114.62
Index Points
114 114 114 114 114
Producer Prices 2000.00
Index Points
1984 1999 2024 2038 2127
Producer Prices Change 3.10
percent
3.6 3.2 2.9 2.8 2.4
Export Prices 104.70
Index Points
104 104 104 104 105
Import Prices 106.70
Index Points
104 103 105 106 103
CPI Housing Utilities 143.07
Index Points
143 145 145 145 151
CPI Transportation 102.10
Index Points
103 104 104 103 108
Food Inflation 1.70
percent
1.4 1.4 1.6 1.5 1.5
MONEY Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Interest Rate 0.00
percent
0 0 0 0.25 0.75
Interbank Rate -0.33
percent
-0.33 -0.33 -0.08 -0.08 0.42
Money Supply M0 19726.27
EUR Million
19342 19312 19328 19350 19351
Money Supply M1 126944.00
EUR Million
127717 127609 127528 127461 126825
Money Supply M2 152209.00
EUR Million
152280 150661 151399 150846 150900
Money Supply M3 168795.00
EUR Million
166090 165551 165754 166039 166265
Foreign Exchange Reserves 8619.00
EUR Million
8635 8640 8642 8643 8643
Banks Balance Sheet 161068.00
EUR Million
142564 145752 156455 143386 149288
Loans to Private Sector 80959.00
EUR Million
78955 78874 78796 78718 77890
Private Debt to GDP 211.58
percent
207 207 207 201 195
Central Bank Balance Sheet 640.07
EUR Million
724 757 784 806 894
TRADE Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Balance of Trade -160.00
EUR Million
-140 -220 -250 -200 -380
Exports 5400.00
EUR Million
5400 5500 4900 5820 5400
Imports 5560.00
EUR Million
5540 5720 5150 6020 5780
Current Account -144.00
EUR Million
-620 250 405 -420 450
Current Account to GDP 0.70
percent
0.5 0.5 0.5 0.6 0.7
External Debt 413332.00
EUR Million
431729 431729 431729 431729 431729
Terms of Trade 98.10
Index Points
100 101 99.52 98.03 101
Capital Flows -1445.00
EUR Million
-3356 -731 -1409 -1384 -1319
Foreign Direct Investment 76591.00
EUR Million
76730 77796 78862 78665 76160
Gold Reserves 49.10
Tonnes
49.13 49.12 49.13 49.13 49.13
Terrorism Index 2.34
1.79 1.67 1.55 1.43 0.9
Weapons Sales 58.00
USD Million
58 58 58 58 58
GOVERNMENT Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Government Debt to GDP 61.40
percent
59.5 59.5 59.5 57.6 54.2
Government Budget -0.60
percent of GDP
0.2 0.2 0.2 0.6 1
Government Budget Value 191.00
EUR Million
236 311 441 430 521
Government Spending 12502.00
EUR Million
11733 11385 12815 11427 13358
Government Spending to GDP 53.70
percent
53.4 53.4 53.4 52.9 52.5
Government Revenues 3888.19
EUR Million
4240 4228 4236 4247 4261
Government Debt 106977.00
EUR Million
103914 103906 103906 103906 103906
Fiscal Expenditure 4202.04
EUR Million
4003 3917 3857 3817 3740
Military Expenditure 3516.19
USD Million
3163 3204 3245 3239 3191
Asylum Applications 225.00
persons
669 683 688 690 690
BUSINESS Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Business Confidence 12.70
Index Points
6.95 8.02 10.11 10.39 9.6
Industrial Production 7.00
percent
4.01 3.3 1.6 2.49 1.5
Industrial Production Mom 2.20
percent
0.19 0.16 0.15 0.15 0.15
Manufacturing Production 5.80
percent
4.12 3.48 3.55 3.46 3.43
Capacity Utilization 84.30
percent
82.87 82.83 82.82 82.82 82.82
New Orders 112.10
Index Points
107 107 107 107 107
Changes in Inventories 208.00
EUR Million
-80.54 15.37 128 254 119
Bankruptcies 733.00
Companies
552 558 556 556 556
Car Registrations 11044.00
10210 9879 9151 10003 9752
Leading Economic Index 3.13
percent
2.6 2.1 2.2 2.4 2.1
Internet Speed 20451.91
KBps
22795 22464 22336 22753 20318
IP Addresses 2332434.00
IP
2317151 2331397 2323625 2331187 2331718
Steel Production 360.60
Thousand Tonnes
326 317 320 322 321
Mining Production -8.00
percent
8.84 8.49 7.99 8.06 8.07
Competitiveness Index 5.49
Points
5.46 5.46 5.46 5.46 5.46
Competitiveness Rank 10.00
10 10 10 10 10
Ease of Doing Business 13.00
13 13 13 13 13
Electricity Production 6865.00
Gigawatt-hour
6564 6366 6234 6144 5962
Corruption Index 85.00
Points
85 85 85 85 85
Corruption Rank 3.00
3 3 3 3 3
CONSUMER Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Consumer Confidence 23.20
Index Points
22.6 18.8 19.1 18.5 11
Retail Sales Mom 0.10
percent
-0.32 0.7 0.6 0.47 1
Retail Sales Yoy 3.30
percent
2.09 2.29 2.33 2.33 2.33
Consumer Spending 27392.00
EUR Million
27404 27500 28077 27546 29268
Personal Savings -2.00
percent
-1.25 -1.25 -1.25 -1.25 -1.25
Bank Lending Rate 0.25
percent
0.25 0.25 0.5 0.5 1
Consumer Credit 15270.00
EUR Million
14816 14756 14953 15201 15158
Gasoline Prices 1.76
USD/Liter
1.66 1.56 1.47 1.39 0.97
Households Debt To Gdp 67.00
percent of GDP
66.89 66.8 66.67 66.52 63.98
Households Debt To Income 114.41
percent
116 117 117 118 121
HOUSING Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Construction Output 1.20
percent
8.19 5.32 2.87 1.98 4.46
Housing Index 101.83
Index points
102 102 102 102 102
Building Permits 2589.00
4320 4065 4020 4132 4090
Housing Starts 4130.00
5528 4645 4115 4161 4072
Home Ownership Rate 71.60
percent
71.58 71.29 71 70.93 70.25
TAXES Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Corporate Tax Rate 20.00
percent
20 20 20 21 23
Personal Income Tax Rate 51.60
percent
51.6 51.6 51.6 52 52
Sales Tax Rate 24.00
percent
24 24 24 24 24
Social Security Rate 32.53
percent
32.53 32.53 32.53 32 32
Social Security Rate For Companies 23.20
percent
23.2 23.2 23.2 23.2 23.2
Social Security Rate For Employees 9.33
percent
9.33 9.33 9.33 9.33 9.33
CLIMATE Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Precipitation 53.81
mm
39.4 63.17 43.47 27.96 44.46
Temperature -3.79
celsius
6.1 12.31 -3.78 -9.56 1.29