The Finnish gross domestic product advanced by 2.1 percent quarter-on-quarter in the June quarter 2021, faster than an earlier estimate of a 2.0 percent growth, accelerating sharply from a 0.1 percent gain in the previous quarter. Both government spending (0.7 percent vs -0.2 percent in Q1) and private consumption (1.9 percent vs -0.2 percent) rebounded. At the same time, fixed investment grew by 1.3 percent, recovering from 0.1 percent decline in Q1. Meanwhile, net foreign demand contributed negatively to the GDP, as exports rose by 0.3 percent, while imports grew at a faster 1.5 percent. On a yearly basis, the economy expanded by 7.5 percent in the second quarter, rebounding sharply from an upwardly revised 1.5 percent contraction in the prior quarter. source: Statistics Finland

GDP Growth Rate in Finland averaged 0.51 percent from 1975 until 2021, reaching an all time high of 5 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 October of 2021.

GDP Growth Rate in Finland is expected to be 1.50 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 0.40 percent in 2022, according to our econometric models.

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Finland GDP Growth Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-08-17 05:00 AM QoQ Prel Q2 2.0% -0.1% 0.7%
2021-08-31 05:00 AM QoQ Final Q2 2.1% 0.1% 2.0%
2021-11-12 06:00 AM QoQ Prel Q3 2.1% 1.5%


News Stream
Finnish Q2 GDP Growth Revised Up to 2.1%
The Finnish gross domestic product advanced by 2.1 percent quarter-on-quarter in the June quarter 2021, faster than an earlier estimate of a 2.0 percent growth, accelerating sharply from a 0.1 percent gain in the previous quarter. Both government spending (0.7 percent vs -0.2 percent in Q1) and private consumption (1.9 percent vs -0.2 percent) rebounded. At the same time, fixed investment grew by 1.3 percent, recovering from 0.1 percent decline in Q1. Meanwhile, net foreign demand contributed negatively to the GDP, as exports rose by 0.3 percent, while imports grew at a faster 1.5 percent. On a yearly basis, the economy expanded by 7.5 percent in the second quarter, rebounding sharply from an upwardly revised 1.5 percent contraction in the prior quarter.
2021-08-31
Finnish Economy Rebounds in Q2
The Finnish gross domestic product grew by 2.0 percent quarter-on-quarter in the June quarter 2021, rebounding from a 0.1 percent contraction in the previous quarter, a preliminary estimate showed. On a yearly basis, the economy expanded by 7.4 percent in the second quarter, recovering sharply from a 1.0 percent decline in the prior quarter.
2021-08-17
Finnish Economy Shrinks 0.1% in Q1
The Finnish gross domestic product contracted by 0.1 percent quarter-on-quarter in the March quarter 2021, missing an earlier estimate of a 0.4 percent growth, reversing from a 0.4 percent expansion in the previous quarter. Government spending contracted by 1.3 percent in the first quarter, after increasing 2.6 percent in the previous quarter. Also, net foreign demand contributed negatively to the GDP as exports shrank by 5.0 percent (vs 9.4 percent in Q4) while imports increased 1.4 percent (vs -1.4% in Q4). At the same time, private consumption fell by 0.7 percent, following a 1.4 percent drop in Q4. Meanwhile, fixed investment grew by 1.4 percent (vs -0.8 percent in Q4). On a yearly basis, the economy shrank by 1.0 percent in the first quarter, following a downwardly revised 1.1 percent contraction in the prior quarter.
2021-05-28

Finland Last Unit Reference Previous Highest Lowest
GDP Growth Rate 2.10 percent Jun/21 0.10 5.00 -6.50
GDP Annual Growth Rate 7.50 percent Jun/21 -1.50 8.80 -9.00
GDP Constant Prices 57611.00 EUR Million Jun/21 56431.00 57674.00 17125.00
Gross National Product 59616.00 EUR Million Jun/21 57620.00 59616.00 31033.00
Gross Fixed Capital Formation 13104.00 EUR Million Jun/21 12940.00 13439.00 3979.00
GDP From Utilities 1482.00 EUR Million Jun/21 1515.00 1583.00 971.00
GDP From Transport 1764.00 EUR Million Jun/21 1726.00 2472.00 1339.00
GDP From Services 35154.00 EUR Million Jun/21 34167.00 35154.00 20584.00
GDP From Public Administration 9411.00 EUR Million Jun/21 9259.00 9837.00 8658.00
GDP From Manufacturing 8805.00 EUR Million Jun/21 8652.00 11061.00 3522.00
GDP From Construction 2913.00 EUR Million Jun/21 2898.00 3779.00 2071.00
GDP From Agriculture 1365.00 EUR Million Jun/21 1328.00 1391.00 819.00


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. .