Increase in consumption and investments pushed Finland's GDP up in 2018
The development of Finland's national economy was steady and gross domestic product grew in every quarter of the year
Finnish economy continues growing. According to Statistics Finland's preliminary data, the volume Finland’s gross domestic product (GDP) increased in October to December by 0.7 per cent from the previous quarter.
Compared with the fourth quarter of 2017, GDP adjusted for working days grew by 2.2 per cent.
The analysis made by Statistics Finland shows that the development of Finland's national economy was steady in 2018 and gross domestic product grew in every quarter. The volume of GDP increased by 2.2 per cent in the whole year.
According to revised data, GDP grew in the third quarter of 2018 by 0.4 per cent from the previous quarter (was 0.4%) and by 2.1 per cent from twelve months back (was 2.4%).
The volume of exports grew by 1.5 per cent and that of imports by 4.2 per cent in October to December year-on-year. Gross fixed capital formation, or investments, grew by 3.2 per cent. Private consumption increased by 1.4 per cent and public consumption by 0.3 per cent from twelve months back.
GDP volume refers to data from which the effects of price changes have been eliminated. Volumes at reference year 2010 prices are expressed relative to the 2010 level at current prices (in euros). Change percentages from the quarter of the previous year have been calculated from time series adjusted for working days, and change percentages from the previous quarter from seasonally adjusted time series.
Source: National Accounts 2018, 4:th quarter. Statistics Finland