The Finnish gross domestic product contracted by 0.9 percent quarter-on-quarter in the March quarter 2020, after a downwardly revised 0.6 percent contraction in the previous period, and worse than an earlier estimate of a 0.1 percent contraction. This was the first contraction in the economy since the first quarter 2015, as there were decreases in both private consumption (-0.7% vs -0.8% in Q4) and fixed investment (-0.5% vs 0.3%) while net exports contributed negatively to the GDP as exports decreased (-7.4% vs 1.1%) while imports fell softer (-3.5% vs -1.9%). Meantime, government spending rebounded (1.0% vs -1.0%). On a yearly basis, the economy shrank 1.1 percent in the first quarter, following an upwardly revised 0.5 percent growth in the prior quarter.

GDP Growth Rate in Finland averaged 0.51 percent from 1975 until 2020, 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 2020. source: Statistics Finland

GDP Growth Rate in Finland is expected to be 3.50 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 1.00 in 12 months time. In the long-term, the Finland GDP Growth Rate is projected to trend around 0.90 percent in 2021 and 0.50 percent in 2022, according to our econometric models.

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Finland GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.90 -0.60 5.00 -6.80 1975 - 2020 percent Quarterly
SA, WDA


Calendar GMT Actual Previous Consensus TEForecast
2020-02-14 06:00 AM QoQ Prel Q4 0.4% 0.7% 0.4%
2020-02-28 06:00 AM QoQ Final Q4 -0.7% 0.4% 0.4%
2020-05-15 05:00 AM QoQ Prel Q1 0.1% -0.7% -0.1%
2020-05-29 05:00 AM QoQ Final Q1 -0.9% -0.6% 0.1%
2020-08-14 05:00 AM QoQ Prel Q2 -0.9% -10.8%
2020-08-28 05:00 AM QoQ Final Q2 -10.8%
2020-11-13 06:00 AM QoQ Prel Q3 3.5%
2020-11-27 06:00 AM QoQ Final Q3 3.5%


News Stream
Finnish Economy Shrinks 0.9% QoQ in Q1
The Finnish gross domestic product contracted by 0.9 percent quarter-on-quarter in the March quarter 2020, after a downwardly revised 0.6 percent contraction in the previous period, and worse than an earlier estimate of a 0.1 percent contraction. This was the first contraction in the economy since the first quarter 2015, as there were decreases in both private consumption (-0.7% vs -0.8% in Q4) and fixed investment (-0.5% vs 0.3%) while net exports contributed negatively to the GDP as exports decreased (-7.4% vs 1.1%) while imports fell softer (-3.5% vs -1.9%). Meantime, government spending rebounded (1.0% vs -1.0%). On a yearly basis, the economy shrank 1.1 percent in the first quarter, following an upwardly revised 0.5 percent growth in the prior quarter.
2020-05-29
Finnish Economy Rebounds in Q1
The Finnish gross domestic product grew by 0.1 percent quarter-on-quarter in the three months to March 2020, after a 0.7 percent contraction in the previous period, a preliminary estimate showed.On a yearly basis, the economy expanded 0.2 percent in the first quarter, following a 0.4 percent growth in the prior quarter.
2020-05-15
Finnish GDP Shrinks for 1st Time in Near 5 Years
The Finnish gross domestic product shrank by 0.7 percent quarter-on-quarter in the December quarter 2019, after a downwardly revised 0.4 percent expansion in the previous period, and reversing from a preliminary reading of a 0.4 percent advance. This was the first quarter of economic contraction since the first quarter 2015, as there were decreases in both private consumption (-0.6% vs 1.2% in Q3) and government spending (-1.2% vs -0.1%). In contrast, fixed investment expanded (0.3% vs -2.1%) and net exports contributed positively to the GDP as exports increased (2.1% vs 2.5% in Q3) while imports fell (-1.6% vs 0.5%). On a yearly basis, the economy grew 0.4 percent in the fourth quarter, following a downwardly revised 1.9 percent growth in the prior quarter.
2020-02-28
Finnish Q4 GDP Growth Weakest in a Year
The Finnish gross domestic product advanced by 0.4 percent quarter-on-quarter in the three months to December 2019, after a 0.7 percent expansion in the previous period, a preliminary estimate showed. This was the weakest GDP growth since the fourth quarter 2018. On a yearly basis, the economy expanded 1.4 percent in the third quarter, following a 2.2 percent growth in the prior quarter.
2020-02-14

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. .