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.