Gross domestic product grew by 0.8 per cent from the previous quarter and by 1.7 per cent year-on-year

According to preliminary data of Statistics Finland, in the January to March period of 2012 the volume of Finland’s gross domestic product increased by 0.8 per cent from the previous quarter. Compared to the first quarter of 2011, working-day adjusted GDP grew by 1.7 per cent. The first quarter had one more working day than one year previously.

Gross domestic product by quarter at reference year 2000 prices

Revisions put the change in the volume of GDP in the fourth quarter of 2011 at 0.0 per cent from the previous quarter (was +0.1%) and at +1.3 per cent from twelve months back (was +1.4%). The revision was caused by downward revision of taxes on products.

In the first quarter, the volume of exports grew by 3.7 per cent from the previous quarter but contracted by 0.2 per cent from twelve months back. Imports decreased by 1.3 per cent from the previous quarter but increased by 0.9 per cent year-on-year.

In the first quarter, the volume of private consumption grew by 2.7 per cent from the previous quarter and by 5.8 per cent from twelve months back. Investments went up by 0.3 per cent from the previous quarter and by 1.5 per cent year-on-year.

Volume refers to data adjusted for price changes. Volumes at reference year 2000 prices are expressed relative to the 2000 level at current prices (in EUR). 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 2012, 1st quarter. Statistics Finland

Inquiries: Pasi Koikkalainen 09 1734 3332, Samu Hakala 09 1734 3756, kansantalous.suhdanteet@stat.fi

Director in charge: Ari Tyrkkö

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Reviews

1. Trade boosted GDP in the first quarter, anticipation of benefits from changed taxation increased car sales (5.6.2012)

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Updated 5.6.2012

Referencing instructions:

Official Statistics of Finland (OSF): Quarterly national accounts [e-publication].
ISSN=1797-9765. 1st quarter 2012. Helsinki: Statistics Finland [referred: 19.5.2013].
Access method: http://tilastokeskus.fi/til/ntp/2012/01/ntp_2012_01_2012-06-05_tie_001_en.html.

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