GDP grew also in the last quarter of 2017

According to Statistics Finland's preliminary data, the volume ¹⁾ of Finland’s gross domestic product increased in October to December by 0.7 per cent from the previous quarter. Compared with the fourth quarter of 2016, GDP adjusted for working days grew by 2.7 per cent.

The development of Finland's national economy was positive in every quarter of 2017. The volume of GDP grew by 3.0 per cent in the whole year from the year before.

Gross domestic product by quarter at reference year 2010 prices (EUR billion)

According to revised data, GDP grew in the third quarter of 2017 by 0.2 per cent from the previous quarter (was 0.4 %) and by 2.5 per cent from twelve months back (was 3.0 %).

The volume of exports grew by 7.6 per cent and that of imports by 0.7 per cent in October to December year-on-year. Gross fixed capital formation, or investments, grew by 3.2 per cent from one year ago.

The volume of private consumption increased by 0.7 per cent and the volume of public consumption expenditure declined by 0.7 per cent from the previous quarter. Compared with one year ago, private consumption increased by 2.1 per cent and public consumption declined by 0.3 per cent.

1) 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 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 2017, 4th quarter. Statistics Finland

Inquiries: Samu Hakala 029 551 3756, Veli-Pekka Karvinen 029 551 2667, kansantalous.suhdanteet@stat.fi

Director in charge: Ville Vertanen

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Gross domestic product grew by three per cent in 2017 (28.2.2018)

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Revisions in these statistics

Revisions on these statistics (28.2.2018)

Updated 28.2.2018

Referencing instructions:

Official Statistics of Finland (OSF): Quarterly national accounts [e-publication].
ISSN=1797-9765. 4th quarter 2017. Helsinki: Statistics Finland [referred: 16.4.2024].
Access method: http://www.stat.fi/til/ntp/2017//04/ntp_2017_04_2018-02-28_tie_001_en.html