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 4208.58
points		 4024 3901 3782 3667 3240
Government Bond 10Y 0.42
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 8833.00
EUR Million		 8763 8761 8761 8761 8761
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 -50.00
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 105634.00
EUR Million		 105846 105828 105807 105815 105813
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 5694.00
Gigawatt-hour		 5133 6592 6674 5532 5905
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