Tuesday. 22.10.2019
El tiempo

Finland's GDP amounted to 234 billion euros in 2018

The value added created in the production of goods and services was revised upwards by 2.4 billion. Items related to financing and insurance, as well as grey and illegal economy have been added to the revised time series.
Finland's GDP amounted to 234 billion euros in 2018

Finland's gross domestic product (GDP) or the value added created in the production of goods and services, amounted to 234 billion euros in 2018. The figure represents a growth of 1.7% compared to the previous year, and an increase of 2.4 billion compared to the data published in June, according to the latest review of the National Accounts 2018 published by Statistics Finland

Statistics Finland explained the level was raised by coverage revisions made to output. 

Value added

Compared to the data published in June, the 2018 current-priced value added increased by 2.4 billion euros to 202 billion euros. The value added of 2017 increased by 1.9 billion. This increase was mainly due to coverage revisions made in services. Similar revisions have been made throughout the 2010s and for some items even longer.

For example, items related to financing and insurance, as well as grey and illegal economy have been added to the revised time series.

In the financial sector, value added growth was affected by other operating income being added to output, and in operations serving financing, by revisions to output and intermediate consumption.

Time series revisions have also been made to the levels of housing and construction.

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