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 Q3/17 Q4/17 Q1/18 Q2/18 2020
GDP Growth Rate 0.40 0.2 0.4 0.4 0.5 0.6 percent [+]
Unemployment Rate 7.50 7.4 7.8 9.9 9 7.1 percent [+]
Inflation Rate 0.70 0.7 1 1.2 1.1 2 percent [+]
Interest Rate 0.00 0 0 0.25 0.25 0.5 percent [+]
Balance of Trade -300.00 -35.65 -58.98 -33.48 2.15 325 EUR Million [+]
Government Debt to GDP 63.60 63.4 63.4 63.2 63.2 61.2 percent [+]
MARKETS Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Currency 1.20 1.19 1.18 1.16 1.15 1.02 [+]
Stock Market 3946.26 3950 3910 3870 3830 3390 points [+]
Government Bond 10Y 0.43 0.56 0.56 0.57 0.57 0.63 percent [+]
GDP Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
GDP Growth Rate 0.40 0.2 0.4 0.4 0.5 0.6 percent [+]
GDP Annual Growth Rate 3.00 2.4 2.3 2.4 2.3 2 percent [+]
GDP 236.79 243 246 245 242 270 USD Billion [+]
GDP Constant Prices 48704.00 48853 49003 49076 49133 49272 EUR Million [+]
Gross National Product 50633.00 50919 51389 51701 51881 52852 EUR Million [+]
Gross Fixed Capital Formation 11352.00 11484 11557 11647 11653 11709 EUR Million [+]
GDP per capita 45709.08 45694 45863 45856 45848 45973 USD [+]
GDP per capita PPP 39422.65 39369 39516 39507 39497 39630 USD [+]
GDP From Agriculture 1264.00 1265 1255 1250 1252 1256 EUR Million [+]
GDP From Construction 2786.00 2826 2864 2869 2883 2868 EUR Million [+]
GDP From Manufacturing 7452.00 7444 7489 7454 7437 7407 EUR Million [+]
GDP From Public Administration 7978.00 7976 7990 7998 8004 8015 EUR Million [+]
GDP From Services 29150.00 29300 29458 29502 29556 29541 EUR Million [+]
GDP From Transport 2247.00 2252 2257 2243 2236 2232 EUR Million [+]
GDP From Utilities 1350.00 1359 1363 1361 1362 1360 EUR Million [+]
LABOUR Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Unemployment Rate 7.50 7.4 7.8 9.9 9 7.1 percent [+]
Employed Persons 2556.00 2470 2442 2471 2471 2467 Thousand [+]
Unemployed Persons 207.00 225 233 234 234 234 Thousand [+]
Labor Force Participation Rate 67.20 65.85 65.99 66.25 66.28 66.25 percent [+]
Long Term Unemployment Rate 2.20 2.06 2.15 2.1 2.09 2.03 percent [+]
Youth Unemployment Rate 20.50 20.29 20.06 19.88 19.75 19.42 percent [+]
Labour Costs 109.20 109 108 108 108 106 Index Points [+]
Job Vacancies 38327.00 42242 43769 41878 42055 42322 [+]
Wages 3392.00 3415 3422 3430 3437 3493 EUR/Month [+]
Wages in Manufacturing 100.10 100 100 99.85 99.8 99.78 Index Points [+]
Population 5.50 5.5 5.5 5.52 5.52 5.56 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 1442 1442 1442 1442 1442 EUR/Month [+]
Living Wage Individual 1216.40 1209 1208 1208 1207 1206 EUR/Month [+]
Part Time Employment 369.70 352 366 371 368 365 Thousand [+]
Productivity 104.20 107 106 101 106 107 Index Points [+]
Wages High Skilled 3390.00 3329 3326 3325 3323 3321 EUR/Month [+]
Wages Low Skilled 1990.00 1919 1918 1918 1918 1918 EUR/Month [+]
Employment Change 0.10 0.07 0.06 0.05 0.04 0 percent [+]
Employment Rate 72.00 69.7 68.8 69.54 69.6 69.47 percent [+]
Full Time Employment 1969.40 2075 1990 1970 2049 1988 Thousand [+]
PRICES Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Inflation Rate 0.70 0.7 1 1.2 1.1 2 percent [+]
Inflation Rate Mom 0.30 0.07 0.7 0.02 0.03 0.3 percent [+]
Harmonised Consumer Prices 101.10 101 101 101 101 101 Index Points [+]
Consumer Price Index CPI 101.10 101 101 101 101 102 Index Points [+]
Core Consumer Prices 101.63 102 102 102 102 102 Index Points [+]
Core Inflation Rate 0.30 0.66 0.65 0.64 0.64 0.64 percent [+]
GDP Deflator 114.46 115 115 115 115 116 Index Points [+]
Producer Prices 1928.00 2560 2750 2970 2970 4200 Index Points [+]
Producer Prices Change 3.70 5.9 4.2 3.6 3.6 2.4 percent [+]
Export Prices 100.20 100 100 100 100 100 Index Points [+]
Import Prices 114.60 115 115 115 115 115 Index Points [+]
CPI Housing Utilities 142.78 143 143 144 144 151 Index Points [+]
CPI Transportation 102.10 103 103 103 103 103 Index Points [+]
Food Inflation -0.06 -1.35 -1.42 -1.45 -1.46 -1.46 percent [+]
MONEY Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Interest Rate 0.00 0 0 0.25 0.25 0.5 percent [+]
Interbank Rate -0.33 -0.3 -0.24 -0.15 -0.07 0.68 percent [+]
Money Supply M0 19375.94 19462 19665 19853 20041 21819 EUR Million [+]
Money Supply M1 124620.00 125994 128266 130489 132698 154392 EUR Million [+]
Money Supply M2 151244.00 152625 154132 155722 157321 172931 EUR Million [+]
Money Supply M3 166127.00 166529 166402 166338 166335 166334 EUR Million [+]
Foreign Exchange Reserves 8742.00 8851 8982 8951 8956 8955 EUR Million [+]
Banks Balance Sheet 147300.00 151062 151219 151707 151628 151774 EUR Million [+]
Loans to Private Sector 78079.00 78015 77939 77917 77908 77904 EUR Million [+]
Private Debt to GDP 208.35 214 210 211 211 211 percent [+]
Central Bank Balance Sheet 577.76 660 766 830 858 876 EUR Million [+]
TRADE Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Balance of Trade -300.00 -35.65 -58.98 -33.48 2.15 325 EUR Million [+]
Exports 4685.00 4888 4776 4788 4752 4491 EUR Million [+]
Imports 4985.00 5075 5042 5022 5003 4822 EUR Million [+]
Current Account 155.00 -83.43 34.04 45.49 45.23 45.3 EUR Million [+]
Current Account to GDP -1.10 0.2 0.2 0.5 0.5 0.7 percent [+]
External Debt 419978.00 421754 406799 411926 404244 399823 EUR Million [+]
Terms of Trade 87.40 87.41 87.4 87.4 87.4 87.4 Index Points [+]
Capital Flows -2951.00 -1630 -785 -560 -519 -517 EUR Million [+]
Foreign Direct Investment 74154.00 77739 77337 78133 78929 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 [+]
Terrorism Index 2.38 0.48 0.47 0.34 0.22 0.45 [+]
Weapons Sales 66.00 55.21 52.94 59.19 65.44 65.54 USD Million [+]
GOVERNMENT Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Government Debt to GDP 63.60 63.4 63.4 63.2 63.2 61.2 percent [+]
Government Budget -1.90 -2.07 -2.7 -1.96 -1.95 -0.9 percent of GDP [+]
Government Budget Value -835.00 -514 -337 -347 -323 -303 EUR Million [+]
Government Spending 11640.00 10657 11638 10659 11636 11626 EUR Million [+]
Government Spending to GDP 56.10 55.55 55.49 55.33 55.17 53.68 percent [+]
Government Revenues 5409.57 4103 4207 4261 4276 4277 EUR Million [+]
Government Debt 104722.00 104525 103959 104136 104092 104096 EUR Million [+]
Fiscal Expenditure 4511.73 4485 4509 4497 4497 4496 EUR Million [+]
Military Expenditure 3242.60 3185 3220 3217 3214 3197 USD Million [+]
Asylum Applications 440.00 624 740 739 739 739 persons [+]
BUSINESS Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Business Confidence 9.30 10.14 11.12 11.68 11.97 12.32 [+]
Industrial Production 2.70 2.61 1.2 2.29 2.17 1.5 percent [+]
Industrial Production Mom 0.40 0.12 0.16 0.17 0.16 0.16 percent [+]
Manufacturing Production 2.60 2.91 2.71 2.6 2.52 2.31 percent [+]
Capacity Utilization 82.60 81.95 81.16 82.25 80.65 81.63 percent [+]
New Orders 91.70 110 108 108 108 107 Index Points [+]
Changes in Inventories -811.00 326 -112 542 -513 -116 EUR Million [+]
Bankruptcies 628.00 565 516 500 590 538 Companies [+]
Car Registrations 9669.00 10066 9877 9875 9906 9974 Cars [+]
Leading Economic Index 3.11 0.37 0.52 0.46 0.44 0.45 percent [+]
Mining Production 37.80 6.55 8.33 7.87 7.79 7.79 percent [+]
Steel Production 349.80 351 353 352 350 351 Thousand Tonnes [+]
Competitiveness Index 5.44 5.43 5.43 5.48 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 4393.00 5376 5458 5368 5340 5199 Gigawatt-hour [+]
Corruption Index 89.00 89 89 89 89 89 Points [+]
Corruption Rank 3.00 3 3 3 3 3 [+]
CONSUMER Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Consumer Confidence 23.50 22.35 8.5 16.94 15.32 11 [+]
Retail Sales Mom 0.40 0.22 0.3 0.19 0.19 1 percent [+]
Retail Sales Yoy 1.50 2.14 1.72 1.66 1.67 1.71 percent [+]
Consumer Spending 27216.00 27307 27426 27563 27666 28749 EUR Million [+]
Personal Savings -2.30 -1.71 -1.65 -1.68 -1.72 -1.69 percent [+]
Bank Lending Rate 0.35 0.35 0.35 0.35 0.35 0.35 percent [+]
Consumer Credit 14940.00 15037 15175 15301 15423 16589 EUR Million [+]
Gasoline Prices 1.69 1.67 1.66 1.66 1.66 1.66 USD/Liter [+]
Households Debt To Gdp 67.50 67.71 67.75 67.8 67.86 68.17 percent of GDP [+]
Households Debt To Income 114.36 117 117 117 118 120 percent [+]
HOUSING Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Construction Output 3.60 6.61 6.59 6.59 6.59 6.59 percent [+]
Housing Index 101.38 102 102 102 102 103 Index points [+]
Building Permits 5037.00 3103 3390 3521 3444 3453 [+]
Housing Starts 5936.00 2726 3243 3440 3273 3311 [+]
Home Ownership Rate 71.60 71.29 71 70.93 70.87 69.97 percent [+]
TAXES Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Corporate Tax Rate 20.00 19.6 19.6 19.57 19.57 19.53 percent [+]
Personal Income Tax Rate 51.60 51.13 50.82 50.85 50.89 50.33 percent [+]
Sales Tax Rate 24.00 24 24 24 24 24 percent [+]
Social Security Rate 30.19 29.26 28.71 28.5 28.29 28.83 percent [+]
Social Security Rate For Companies 21.22 20.68 20.17 20.13 20.1 20.02 percent [+]
Social Security Rate For Employees 8.97 9.78 9.88 10.08 10.28 11.48 percent [+]