The Gross Domestic Product (GDP) in Finland contracted 6.40 percent in the second quarter of 2020 over the same quarter of the previous year.

GDP Annual Growth Rate in Finland averaged 2.12 percent from 1976 until 2020, reaching an all time high of 7.60 percent in the third quarter of 1979 and a record low of -9.10 percent in the second quarter of 2009. This page provides - Finland GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Finland GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: Statistics Finland

GDP Annual Growth Rate in Finland is expected to be -7.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Finland to stand at 9.20 in 12 months time. In the long-term, the Finland GDP Annual Growth Rate is projected to trend around 4.20 percent in 2021 and 2.20 percent in 2022, according to our econometric models.

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Finland GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-6.40 -1.30 7.60 -9.10 1976 - 2020 percent Quarterly

Calendar GMT Actual Previous Consensus TEForecast
2020-05-15 05:00 AM YoY Prel Q1 0.2% 0.4% 0.3%
2020-05-29 05:00 AM YoY Final Q1 -1.1% 0.5% 0.2%
2020-08-14 05:00 AM YoY Prel Q2 -4.9% -1.1% -10.5%
2020-08-28 05:00 AM YoY Final Q2 -6.4% -1.3% -4.9%
2020-11-13 06:00 AM YoY Prel Q3 -6.4% -7%
2020-11-27 06:00 AM YoY Final Q3 -7%

Finland GDP Annual Growth Rate
The largest sector of the Finnish economy is services at 65 percent, followed by manufacturing and refining at 31 percent. Primary production is at 3 percent. Finland’s main industrial products are paper and board, electronics and metal products. Engineering and high technology industries are the leading branches of manufacturing. 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.