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 1.20 0.5 0.5 0.6 0.4 0.6 percent
Unemployment Rate 9.30 7.4 7.9 9.2 9 7.1 percent
Inflation Rate 1.20 1.2 1.6 1.6 1.6 2 percent
Interest Rate 0.00 0 0 0 0.25 0.75 percent
Balance of Trade -260.00 -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 1.17
1.14 1.13 1.11 1.09 1.02
Stock Market 4200.60
points
4024 3901 3782 3667 3240
Government Bond 10Y 0.47
percent
0.55 0.67 0.81 0.98 2.12
GDP Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate 1.20
percent
0.5 0.5 0.6 0.4 0.6
GDP Annual Growth Rate 3.10
percent
2.2 2.5 2.6 2.4 2
GDP 251.88
USD Billion
240 241 262 262 270
GDP Constant Prices 50149.00
EUR Million
49652 50770 51453 50130 52925
Gross National Product 51422.00
EUR Million
51222 52120 52759 51423 54332
Gross Fixed Capital Formation 11748.00
EUR Million
11383 11495 12053 11288 11983
GDP per capita 47057.62
USD
45900 45900 46200 46200 46500
GDP per capita PPP 40585.72
USD
40648 40583 39630 39630 41482
GDP From Agriculture 1332.00
EUR Million
1286 1299 1367 1292 1354
GDP From Construction 2843.00
EUR Million
2757 2798 2917 2784 2917
GDP From Manufacturing 7779.00
EUR Million
7420 7607 7981 7554 7929
GDP From Public Administration 7954.00
EUR Million
8183 8292 8161 8295 8644
GDP From Services 29796.00
EUR Million
29811 30466 30571 30079 31759
GDP From Transport 2295.00
EUR Million
2265 2323 2355 2276 2421
GDP From Utilities 1451.00
EUR Million
1369 1394 1489 1377 1453
LABOUR Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Unemployment Rate 9.30
percent
7.4 7.9 9.2 9 7.1
Employed Persons 2555.00
Thousand
2509 2496 2509 2509 2507
Unemployed Persons 261.00
Thousand
244 243 243 243 243
Labor Force Participation Rate 68.30
percent
66.42 65.49 65.9 66.12 66.01
Long Term Unemployment Rate 2.00
percent
1.94 1.89 1.89 1.86 1.8
Youth Unemployment Rate 18.40
percent
18.03 17.84 17.7 17.6 17.34
Labour Costs 107.75
Index Points
107 108 108 108 108
Job Vacancies 53390.00
45764 51895 49893 48714 49548
Wages 3418.00
EUR/Month
3410 3420 3422 3455 3460
Wages in Manufacturing 101.60
Index Points
102 102 102 102 102
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 101.40
Index Points
111 109 104 108 109
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 0.70
percent
0.66 0.56 0.53 0.48 0.21
Employment Rate 72.30
percent
70.42 70.06 70.55 70.52 70.45
Full Time Employment 2018.40
Thousand
2124 2057 2040 2115 2070
PRICES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Inflation Rate 1.20
percent
1.2 1.6 1.6 1.6 2
Inflation Rate Mom 0.20
percent
0.06 0.5 0.08 0.09 0.3
Harmonised Consumer Prices 102.60
Index Points
103 103 104 104 107
Consumer Price Index CPI 102.30
Index Points
103 103 103 104 107
Core Consumer Prices 102.09
Index Points
102 102 102 102 102
Core Inflation Rate 0.00
percent
0 0 0 0 0
GDP Deflator 115.21
Index Points
116 116 116 117 118
Producer Prices 2032.00
Index Points
2003 2024 2056 2059 2127
Producer Prices Change 4.90
percent
3.2 2.9 2.8 2.5 2.4
Export Prices 107.50
Index Points
109 110 110 110 110
Import Prices 110.30
Index Points
112 112 112 112 112
CPI Housing Utilities 143.97
Index Points
145 145 145 146 151
CPI Transportation 104.30
Index Points
104 104 103 106 108
Food Inflation 2.40
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 0.25 0.75
Interbank Rate -0.32
percent
-0.32 -0.32 -0.32 -0.32 0.43
Money Supply M0 19842.23
EUR Million
20045 20207 20368 20525 21956
Money Supply M1 133033.00
EUR Million
134456 136577 138732 140895 162104
Money Supply M2 150303.00
EUR Million
152472 153571 154672 155764 166179
Money Supply M3 167397.00
EUR Million
167973 168031 168069 168087 168094
Foreign Exchange Reserves 8722.00
EUR Million
8728 8727 8728 8728 8728
Banks Balance Sheet 161785.00
EUR Million
155169 154875 156178 155811 156179
Loans to Private Sector 81863.00
EUR Million
82693 82871 82937 82960 82972
Private Debt to GDP 211.58
percent
207 207 201 201 195
Central Bank Balance Sheet 635.74
EUR Million
638 639 640 640 641
TRADE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Balance of Trade -260.00
EUR Million
-220 -250 -200 -240 -380
Exports 5305.00
EUR Million
5500 4900 5820 5700 5400
Imports 5565.00
EUR Million
5720 5150 6020 5940 5780
Current Account -519.00
EUR Million
250 405 -420 270 450
Current Account to GDP 0.70
percent
0.5 0.5 0.6 0.6 0.7
External Debt 423088.00
EUR Million
416837 410293 414842 409847 409771
Terms of Trade 97.50
Index Points
97.84 98.24 98.27 98.3 98.32
Capital Flows -9054.00
EUR Million
-1054 -1166 -1167 -1165 -1164
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 -135.00
EUR Million
-278 -232 -219 -219 -221
Government Spending 11404.00
EUR Million
11429 12711 11701 12075 13250
Government Spending to GDP 53.70
percent
53.4 53.4 52.9 52.9 52.5
Government Revenues 4469.10
EUR Million
4215 4276 4288 4288 4285
Government Debt 104332.00
EUR Million
104873 104964 104894 104923 104915
Fiscal Expenditure 4518.75
EUR Million
4493 4518 4507 4507 4506
Military Expenditure 3516.19
USD Million
3519 3558 3550 3542 3504
Asylum Applications 240.00
persons
662 671 676 677 677
BUSINESS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Business Confidence 15.00
Index Points
14.73 15.15 15.38 15.5 15.64
Industrial Production 3.50
percent
4.07 1.6 4.11 4.11 1.5
Industrial Production Mom 0.90
percent
0.21 0.16 0.15 0.15 0.15
Manufacturing Production 2.90
percent
3.53 3.51 3.52 3.52 3.52
Capacity Utilization 84.30
percent
85.3 84.72 85.68 84.49 85.02
New Orders 103.20
Index Points
107 106 106 106 106
Changes in Inventories 898.00
EUR Million
287 229 604 -15.84 214
Bankruptcies 635.00
Companies
597 635 736 684 763
Car Registrations 11652.00
11677 11747 11725 11719 11722
Leading Economic Index 3.41
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 351.50
Thousand Tonnes
351 351 354 353 353
Mining Production 79.20
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 5087.00
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 23.00
Index Points
18.8 19.1 18.5 15.5 11
Retail Sales Mom 2.80
percent
0.26 0.6 0.29 0.29 1
Retail Sales Yoy 5.50
percent
3.45 3.46 3.57 3.61 3.63
Consumer Spending 27491.00
EUR Million
27496 28084 28206 27704 29276
Personal Savings -2.00
percent
-1.11 -1.14 -1.2 -1.16 -1.16
Bank Lending Rate 0.25
percent
0.25 0.25 0.25 0.25 1
Consumer Credit 15510.00
EUR Million
15790 15925 16011 16068 16172
Gasoline Prices 1.81
USD/Liter
1.71 1.62 1.53 1.44 0.84
Households Debt To Gdp 67.10
percent of GDP
66.99 67.02 66.96 66.99 66.96
Households Debt To Income 114.41
percent
117 117 118 118 121
HOUSING Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Construction Output -3.30
percent
-1.98 -2.04 -2.05 -2.06 -2.06
Housing Index 101.69
Index points
101 101 101 101 101
Building Permits 2956.00
3726 3663 3660 3675 3673
Housing Starts 4634.00
3341 3543 3608 3546 3561
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