Finland's gross domestic product shrank by 0.1 percent on quarter in the three months to September 2022, following a 0.9 percent expansion in the previous period, a preliminary estimate showed. It was the first period of contraction since the first quarter of 2021 as demand was hit by surging prices, higher borrowing costs, and a deepening energy crisis across Europe. On a yearly basis, the economy grew by 1.7 percent in the third quarter. source: Statistics Finland

GDP Growth Rate in Finland averaged 0.51 percent from 1975 until 2022, reaching an all time high of 5.00 percent in the third quarter of 1980 and a record low of -6.50 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 November of 2022.

GDP Growth Rate in Finland is expected to be 0.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Finland GDP Growth Rate is projected to trend around 0.30 percent in 2023 and 0.40 percent in 2024, according to our econometric models.

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Finland GDP Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-08-31 05:00 AM QoQ Final Q2 0.9% 0.5% 0.6% 0.6%
2022-11-15 06:00 AM QoQ Prel Q3 -0.1% 0.9%
2022-11-30 06:00 AM QoQ Final Q3 0.9% -0.1%


Related Last Previous Unit Reference
GDP Growth Rate -0.10 0.90 percent Sep 2022
GDP Annual Growth Rate 1.70 3.00 percent Sep 2022
GDP Constant Prices 59411.00 59013.00 EUR Million Jun 2022
Gross National Product 60578.00 60662.00 EUR Million Jun 2022
Gross Fixed Capital Formation 13546.00 14049.00 EUR Million Jun 2022
Full Year GDP Growth 3.00 -2.20 percent Dec 2021
GDP from Utilities 1562.00 1476.00 EUR Million Jun 2022
GDP from Transport 1861.00 1925.00 EUR Million Jun 2022
GDP from Services 36175.00 35621.00 EUR Million Jun 2022
GDP from Public Administration 9394.00 9392.00 EUR Million Jun 2022
GDP from Manufacturing 8837.00 9104.00 EUR Million Jun 2022
GDP from Construction 3396.00 3223.00 EUR Million Jun 2022
GDP from Agriculture 1284.00 1308.00 EUR Million Jun 2022

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. .
Actual Previous Highest Lowest Dates Unit Frequency
-0.10 0.90 5.00 -6.50 1975 - 2022 percent Quarterly
SA, WDA

News Stream
Finnish GDP Contracts in Q3
Finland's gross domestic product shrank by 0.1 percent on quarter in the three months to September 2022, following a 0.9 percent expansion in the previous period, a preliminary estimate showed. It was the first period of contraction since the first quarter of 2021 as demand was hit by surging prices, higher borrowing costs, and a deepening energy crisis across Europe. On a yearly basis, the economy grew by 1.7 percent in the third quarter.
2022-11-15
Finnish Q2 GDP Growth Revised Higher
The Finnish gross domestic product advanced 0.9 percent quarter-on-quarter in the June quarter of 2022, compared with the flash data of a 0.6 percent growth and after an upwardly revised 0.5 percent increase in Q1. The latest result was the fifth straight quarter of expansion in the economy and the strongest pace since Q3 of 2021, as private consumption picked up (2.4 percent vs flat reading in Q1), while government spending growth accelerated (1.7 percent vs 1.4 percent). Meantime, fixed investment fell for the first time in three quarters (-1.8 percent vs 2.6 percent), while net foreign demand contributed negatively to the GDP with exports growing 0.2 percent while imports rose 2.3 percent. On a yearly basis, the economy grew by 3.0 percent, faster than the preliminary reading of 2.3 percent but moderating from an upwardly revised 3.9 percent growth in Q1.
2022-08-31
Finnish GDP Growth Accelerates to 0.6% in Q2
The Finnish economy expanded by 0.6 percent qoq in Q2 of 2022, after a 0. 2 percent growth in Q1. This was the fifth straight quarter of expansion in the GDP, amid lifting COVID-19 restrictions, preliminary figures showed. On a yearly basis, the country's GDP grew 2.3 percent in Q2, following a 3.6 percent expansion in Q1.
2022-08-17