The Finnish gross domestic product contracted by 0.1 percent quarter-on-quarter in the March quarter 2021, missing an earlier estimate of a 0.4 percent growth, reversing from a 0.4 percent expansion in the previous quarter. Government spending contracted by 1.3 percent in the first quarter, after increasing 2.6 percent in the previous quarter. Also, net foreign demand contributed negatively to the GDP as exports shrank by 5.0 percent (vs 9.4 percent in Q4) while imports increased 1.4 percent (vs -1.4% in Q4). At the same time, private consumption fell by 0.7 percent, following a 1.4 percent drop in Q4. Meanwhile, fixed investment grew by 1.4 percent (vs -0.8 percent in Q4). On a yearly basis, the economy shrank by 1.0 percent in the first quarter, following a downwardly revised 1.1 percent contraction in the prior quarter. source: Statistics Finland

GDP Growth Rate in Finland averaged 0.49 percent from 1975 until 2021, reaching an all time high of 5 percent in the third quarter of 1980 and a record low of -6.80 percent in the first quarter of 2009. This page provides - Finland GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Finland GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2021.

GDP Growth Rate in Finland is expected to be 0.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Finland to stand at 0.50 in 12 months time. In the long-term, the Finland GDP Growth Rate is projected to trend around 0.40 percent in 2022, according to our econometric models.

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Finland GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.10 0.40 5.00 -6.80 1975 - 2021 percent Quarterly
SA, WDA


Calendar GMT Actual Previous Consensus TEForecast
2021-02-16 06:00 AM QoQ Prel Q4 0.2% 3.3% 0.1%
2021-02-26 06:00 AM QoQ Final Q4 0.4% 3.2% 0.2%
2021-05-18 05:00 AM QoQ Prel Q1 0.4% 0.4% 0.2%
2021-05-28 05:00 AM QoQ Final Q1 -0.1% 0.4% 0.4%
2021-08-13 05:00 AM QoQ Prel Q2 -0.1% 0.7%
2021-08-27 05:00 AM QoQ Final Q2
2021-11-12 06:00 AM QoQ Prel Q3 1.5%
2021-11-26 06:00 AM QoQ Final Q3


News Stream
Finnish Economy Shrinks 0.1% in Q1
The Finnish gross domestic product contracted by 0.1 percent quarter-on-quarter in the March quarter 2021, missing an earlier estimate of a 0.4 percent growth, reversing from a 0.4 percent expansion in the previous quarter. Government spending contracted by 1.3 percent in the first quarter, after increasing 2.6 percent in the previous quarter. Also, net foreign demand contributed negatively to the GDP as exports shrank by 5.0 percent (vs 9.4 percent in Q4) while imports increased 1.4 percent (vs -1.4% in Q4). At the same time, private consumption fell by 0.7 percent, following a 1.4 percent drop in Q4. Meanwhile, fixed investment grew by 1.4 percent (vs -0.8 percent in Q4). On a yearly basis, the economy shrank by 1.0 percent in the first quarter, following a downwardly revised 1.1 percent contraction in the prior quarter.
2021-05-28
Finnish GDP Grows 0.4% in Q1
The Finnish gross domestic product expanded by 0.4 percent quarter-on-quarter in the March quarter 2021, unchanged from the previous period, a preliminary estimate showed. On a yearly basis, the economy shrank by 0.3 percent in the first quarter, following a 1.4 percent contraction in the prior quarter.
2021-05-18
Finnish Q4 GDP Growth Rate Revised Up to 0.4%
The Finnish gross domestic product grew by 0.4 percent quarter-on-quarter in the December quarter 2020, easing from a downwardly revised 3.2 percent expansion in the previous period, but faster than an earlier estimate of a 0.2 percent growth. Government spending expanded by 2.8 percent in the fourth quarter, following a 2.2 percent gain in the previous quarter. Also, net foreign demand contributed positively to the GDP as exports rose by 8.8 percent (vs 3.8 percent in Q3) while imports declined 1.4 percent (vs 4.7% in Q3). Meanwhile, private consumption fell by 1.5 percent, reversing from 8.0 percent growth in Q3. At the same time, fixed investment contracted more (-1.9 percent vs -0.9 percent). On a yearly basis, the economy shrank 1.4 percent in the fourth quarter, following a downwardly revised 2.6 percent fall in the prior quarter.
2021-02-26
Finnish GDP Growth Eases to 0.2% in Q4
The Finnish gross domestic product advanced by 0.2 percent quarter-on-quarter in the last three months of 2020, slowing from a 3.3 percent expansion in the previous period, a preliminary estimate showed. On a yearly basis, the economy shrank by 2.0 percent in the fourth quarter, following a 2.7 percent contraction in the prior quarter.
2021-02-16

Finland GDP Growth Rate
Although services account for 65 percent of Finnish economy, key sector is manufacturing, mainly wood, metals, engineering, telecommunications, and electronics industries. On the expenditure side, household consumption is the main component of GDP and accounts for 55 percent of its total use, followed by government expenditure (25 percent) and gross fixed capital formation (20 percent). Exports of goods and services account for 38 percent of GDP while imports account for 39 percent, subtracting 1 percent of total GDP. .