The Finnish gross domestic product grew by 2.6 percent quarter-on-quarter in the September quarter 2020, the first expansion since the third quarter last year, after a 4.5 percent contraction in the previous period, a preliminary estimate showed. On a yearly basis, the economy shrank 4 percent in the third quarter, following a 6.4 percent contraction in the prior quarter. source: Statistics Finland

GDP Growth Rate in Finland averaged 0.49 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 November of 2020.

GDP Growth Rate in Finland is expected to be -1.30 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 1.20 in 12 months time. In the long-term, the Finland GDP Growth Rate is projected to trend around 1.20 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
2.60 -4.50 5.00 -6.80 1975 - 2020 percent Quarterly
SA, WDA


Calendar GMT Actual Previous Consensus TEForecast
2020-05-29 05:00 AM QoQ Final Q1 -0.9% -0.6% 0.1%
2020-08-14 05:00 AM QoQ Prel Q2 -3.2% -0.9% -10.8%
2020-08-28 05:00 AM QoQ Final Q2 -4.5% -1.9% -3.2%
2020-11-13 06:00 AM QoQ Prel Q3 2.6% -4.5% 1.5%
2020-11-27 06:00 AM QoQ Final Q3 -4.5% 1.5%
2021-02-15 06:00 AM QoQ Prel Q4
2021-03-01 06:00 AM QoQ Final Q4
2021-05-14 05:00 AM QoQ Prel Q1


News Stream
Finnish Economy Rebounds in Q3
The Finnish gross domestic product grew by 2.6 percent quarter-on-quarter in the September quarter 2020, the first expansion since the third quarter last year, after a 4.5 percent contraction in the previous period, a preliminary estimate showed. On a yearly basis, the economy shrank 4 percent in the third quarter, following a 6.4 percent contraction in the prior quarter.
2020-11-13
Finnish Economy Shrinks 4.5% QoQ in Q2
The Finnish gross domestic product contracted by 4.5 percent quarter-on-quarter in the June quarter 2020, the steepest contraction since the first quarter 2009, after an upwardly revised 1.9 percent contraction in the previous period, and worse than an earlier estimate of a 3.2 percent contraction. There were decreases in both private consumption (-6.9% vs -1.5% in Q1) and fixed investment (-0.6% vs 0.3%) while net external demand contributed negatively to the GDP, and government spending contracted (-0.9% vs 0.7%). On a yearly basis, the economy shrank 6.4 percent in the second quarter, following an upwardly revised 1.3 percent contraction in the prior quarter.
2020-08-28
Finnish Economy Shrinks the Most Since 2009
The Finnish gross domestic product contracted by 3.2 percent quarter-on-quarter in the three months to June 2020, the strongest contraction since the first quarter 2009, after a 0.9 percent contraction in the previous period, a preliminary estimate showed. On a yearly basis, the economy shrank 4.9 percent in the second quarter, following a 1.1 percent contraction in the prior quarter.
2020-08-14
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

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. .