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 Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate 0.30 0.5 0.5 0.6 0.4 0.6 percent
Unemployment Rate 6.50 7 7.4 7.1 6.9 7.1 percent
Inflation Rate 1.30 1.2 1.6 1.6 1.6 2 percent
Interest Rate 0.00 0 0 0 0 0.75 percent
Balance of Trade -450.00 -220 -250 -200 -240 -380 EUR Million
Government Debt to GDP 61.40 59.5 59.5 57.6 57.6 54.2 percent
MARKETS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Currency 1.18
1.16 1.15 1.15 1.14 1.12
Stock Market 4331.70
points
4335 4291 4247 4204 4035
Government Bond 10Y 0.63
percent
0.6 0.64 0.69 0.74 0.97
GDP Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate 0.30
percent
0.5 0.5 0.6 0.4 0.6
GDP Annual Growth Rate 2.50
percent
2.2 2.5 2.6 2.4 2
GDP 251.88
USD Billion
240 241 262 262 270
GDP Constant Prices 50344.00
EUR Million
49765 50839 51479 51552 52997
Gross National Product 51575.00
EUR Million
51222 52120 52759 52813 54332
Gross Fixed Capital Formation 11392.00
EUR Million
11383 11495 12053 11665 11983
GDP per capita 47057.62
USD
49000 49000 51200 51200 52500
GDP per capita PPP 40585.72
USD
40648 40583 39630 39630 41482
GDP From Agriculture 1367.00
EUR Million
1286 1299 1367 1400 1354
GDP From Construction 2799.00
EUR Million
2757 2798 2917 2866 2917
GDP From Manufacturing 7849.00
EUR Million
7420 7607 7981 8037 7929
GDP From Public Administration 8133.00
EUR Million
8183 8292 8161 8328 8644
GDP From Services 29552.00
EUR Million
29811 30466 30571 30261 31759
GDP From Transport 2281.00
EUR Million
2265 2323 2355 2336 2421
GDP From Utilities 1569.00
EUR Million
1369 1394 1489 1607 1453
LABOUR Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Unemployment Rate 6.50
percent
7 7.4 7.1 6.9 7.1
Employed Persons 2631.00
Thousand
2542 2507 2537 2539 2534
Unemployed Persons 183.00
Thousand
203 211 211 210 210
Labor Force Participation Rate 68.30
percent
66.33 65.38 65.91 66.15 66.02
Long Term Unemployment Rate 2.00
percent
1.94 1.89 1.89 1.86 1.8
Youth Unemployment Rate 16.80
percent
16.03 15.12 14.43 13.93 12.54
Labour Costs 108.88
Index Points
107 108 108 108 108
Job Vacancies 45391.00
49294 51979 50336 50021 50431
Wages 3456.00
EUR/Month
3410 3420 3422 3515 3460
Wages in Manufacturing 101.90
Index Points
102 102 103 104 107
Population 5.51
Million
5.51 5.51 5.54 5.54 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 1929 1868
Wages High Skilled 3660.00
EUR/Month
4000 4000 4000 4065 4074
Productivity 102.80
Index Points
109 108 102 103 107
Part Time Employment 381.10
Thousand
345 378 381 371 374
Living Wage Family 1740.00
EUR/Month
1740 1740 1748 1748 1747
Living Wage Individual 1170.00
EUR/Month
1134 1133 1135 1137 1140
Employment Change 0.60
percent
0.66 0.57 0.52 0.49 0.23
Employment Rate 74.10
percent
71.39 70.37 71.31 71.37 71.21
Full Time Employment 2018.40
Thousand
2124 2057 2040 2115 2070
PRICES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Inflation Rate 1.30
percent
1.2 1.6 1.6 1.6 2
Inflation Rate Mom 0.10
percent
0.2 0.5 0.08 0.09 0.3
Harmonised Consumer Prices 102.50
Index Points
103 103 104 104 107
Consumer Price Index CPI 102.40
Index Points
103 103 103 104 107
Core Consumer Prices 101.96
Index Points
102 102 102 103 103
Core Inflation Rate 0.40
percent
0.34 0.38 0.38 0.38 0.38
GDP Deflator 115.17
Index Points
115 116 116 116 118
Producer Prices 2055.00
Index Points
2081 2113 2056 2096 2220
Producer Prices Change 6.20
percent
7.2 7.4 2.8 2.5 2.4
Export Prices 107.70
Index Points
108 108 109 109 109
Import Prices 110.60
Index Points
111 111 111 111 111
CPI Housing Utilities 145.21
Index Points
145 145 145 146 151
CPI Transportation 104.20
Index Points
104 104 103 106 108
Food Inflation 1.80
percent
1.4 1.6 1.5 2.82 1.5
MONEY Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Interest Rate 0.00
percent
0 0 0 0 0.75
Interbank Rate -0.32
percent
-0.32 -0.32 -0.32 -0.32 0.43
Money Supply M0 20150.09
EUR Million
20229 20423 20607 20788 22449
Money Supply M1 134069.00
EUR Million
136709 138780 141083 143423 166436
Money Supply M2 150816.00
EUR Million
152344 153093 154080 155109 165039
Money Supply M3 168133.00
EUR Million
168456 168174 168052 168050 168056
Foreign Exchange Reserves 8761.00
EUR Million
8621 8630 8631 8631 8631
Banks Balance Sheet 146340.00
EUR Million
150764 150367 152104 151644 152165
Loans to Private Sector 83020.00
EUR Million
83367 83519 83594 83620 83635
Private Debt to GDP 211.58
percent
207 207 201 201 195
Central Bank Balance Sheet 582.43
EUR Million
638 639 640 640 641
TRADE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Balance of Trade -450.00
EUR Million
-220 -250 -200 -240 -380
Exports 4965.00
EUR Million
5500 4900 5820 5700 5400
Imports 5415.00
EUR Million
5720 5150 6020 5940 5780
Current Account 48.00
EUR Million
-100 -300 -420 -150 450
Current Account to GDP 0.70
percent
0.5 0.5 0.6 0.6 0.7
External Debt 423985.00
EUR Million
416837 410293 414842 409847 409771
Terms of Trade 97.50
Index Points
97.81 97.99 98.01 98.02 98.03
Capital Flows 398.00
EUR Million
-1422 -1284 -1245 -1237 -1236
Foreign Direct Investment 76591.00
EUR Million
74409 73215 74799 76384 79450
Gold Reserves 49.10
Tonnes
49.11 49.1 49.1 49.1 49.1
Terrorism Index 2.34
1.67 1.55 1.43 1.3 0.9
Weapons Sales 58.00
USD Million
74.95 82.21 76.11 70 56.93
GOVERNMENT Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Government Debt to GDP 61.40
percent
59.5 59.5 57.6 57.6 54.2
Government Budget -0.60
percent of GDP
0.2 0.2 0.6 0.6 1
Government Budget Value -333.70
EUR Million
-33.22 -164 -162 -168 -173
Government Spending 11907.00
EUR Million
11429 12711 11701 12193 13250
Government Spending to GDP 53.70
percent
53.4 53.4 52.9 52.9 52.5
Government Revenues 4740.91
EUR Million
4354 4353 4358 4355 4349
Government Debt 105413.00
EUR Million
105628 105532 105529 105540 105535
Fiscal Expenditure 4973.31
EUR Million
4387 4509 4520 4522 4523
Military Expenditure 3516.19
USD Million
3519 3558 3550 3542 3504
Asylum Applications 235.00
persons
662 671 676 677 677
BUSINESS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Business Confidence 14.50
Index Points
15.8 14 16 15 11
Industrial Production 3.30
percent
3.9 2.1 3.5 3.3 1.8
Industrial Production Mom -1.10
percent
0.21 0.16 0.15 0.15 0.15
Manufacturing Production 1.20
percent
3.53 3.51 3.52 3.52 3.52
Capacity Utilization 84.70
percent
85.3 84.72 85.68 84.49 85.02
New Orders 97.60
Index Points
107 106 106 106 106
Changes in Inventories -29.00
EUR Million
304 260 625 64.68 262
Bankruptcies 635.00
Companies
597 635 736 684 763
Car Registrations 12004.00
11110 11188 11200 11171 11177
Leading Economic Index 1.55
percent
2.1 2.2 2.4 3.27 2.1
Internet Speed 20451.91
KBps
22464 22336 22753 22413 20318
IP Addresses 2332434.00
IP
2331397 2323625 2331187 2327346 2331718
Steel Production 345.80
Thousand Tonnes
351 351 352 351 352
Mining Production 52.50
percent
0.15 6.41 8.86 7.89 8.02
Competitiveness Index 5.49
Points
5.5 5.5 5.51 5.51 5.48
Competitiveness Rank 10.00
10 10 10 10 10
Ease of Doing Business 13.00
14 15 15 15 14
Electricity Production 4711.00
Gigawatt-hour
5092 6928 6781 5266 5943
Corruption Index 85.00
Points
85 84 85 85 86
Corruption Rank 3.00
3 3 3 3 3
CONSUMER Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Consumer Confidence 21.50
Index Points
21 21 18 17 11
Retail Sales Mom -2.50
percent
0.14 0.6 0.23 0.23 1
Retail Sales Yoy 1.20
percent
2.32 2.74 2.96 3.03 3.04
Consumer Spending 27549.00
EUR Million
27496 28084 28206 28210 29276
Personal Savings 0.50
percent
-0.43 -0.56 -0.59 -0.49 -0.53
Bank Lending Rate 0.25
percent
0.25 0.25 0.25 0.25 1
Consumer Credit 15672.00
EUR Million
15803 15941 16029 16088 16195
Gasoline Prices 1.82
USD/Liter
1.85 1.75 1.65 1.56 1.23
Households Debt To Gdp 67.10
percent of GDP
66.99 67.02 66.96 66.99 66.96
Households Debt To Income 116.36
percent
117 117 117 117 117
HOUSING Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Construction Output 5.50
percent
-0.21 -0.27 -0.28 -0.28 -0.28
Housing Index 101.69
Index points
101 101 101 101 101
Building Permits 6191.00
4433 3908 4173 4157 4130
Housing Starts 5912.00
units
3292 3728 4049 3834 3877
Home Ownership Rate 71.40
percent
71.14 71.13 71.08 71.03 70.65
TAXES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Corporate Tax Rate 20.00
percent
20 20 20 20 20
Personal Income Tax Rate 51.60
percent
51.6 51.6 51.25 51 51
Sales Tax Rate 24.00
percent
24 24 24 24 24
Social Security Rate 32.53
percent
32.53 32.53 33 33 33
Social Security Rate For Companies 23.20
percent
23.92 23.92 23.9 23.9 23.77
Social Security Rate For Employees 9.33
percent
9.34 9.34 9.38 9.4 9.77
CLIMATE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Precipitation 53.81
mm
63.17 43.47 27.96 46.52 44.46
Temperature -3.79
celsius
12.31 -3.78 -9.56 5.9 1.29