Published: 12 July 2007

Gross domestic product grew by 5 per cent last year

According to Statistics Finland's revised preliminary data, the volume of Finland's GDP grew by 5 per cent last year. The growth was the fastest since 2000. Approximately one percentage point of the growth in GDP last year was due to the industrial dispute in the paper industry in the year before last. Last year's GDP was EUR 167 billion.

According to the first preliminary data published in March, growth in DGP was 5.5 per cent last year, which is one half of a percentage point higher than indicated by these revised data. The data published now are still preliminary and will next be revised in January 2008.

Demand in the national economy was again pushed up most by exports; the volume of exports grew by 10.4 per cent. The volume of consumption grew by 3.3 per cent and that of investments by 4.1 per cent. The volume of imports went up by 8.3 per cent.

Growth was especially rapid in industry, where the volume of value added grew by 10.6 per cent. In the metal industry value added grew by over 15 per cent and in the paper industry by as much as 23 per cent due to the industrial dispute of the previous year. The volume of the value added of construction grew by 3.3 per cent. In private services value added grew by 4.7 per cent last year and in public services by 0.3 per cent. In primary production value added contracted by 0.7 per cent.

Among the service industries the fastest growth was recorded in trade, 6.5 per cent, and transport and communications, 5.6 per cent. Business activities grew by 4.6 per cent. Value added in health and social services increased by 1.8 per cent, but education services remained on level with the previous year.

Annual change in the volume of gross domestic product, per cent

Source: National Accounts 2006. Statistics Finland

Inquiries: Mr Olli Savela +358 9 1734 3316, Ms Aila Heinonen +358 9 1734 3338, skt.95@stat.fi

Director in charge: Mr Ari Tyrkkö

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Last updated 12.7.2007

Referencing instructions:

Official Statistics of Finland (OSF): Annual national accounts [e-publication].
ISSN=1798-0623. 2006. Helsinki: Statistics Finland [referred: 19.8.2019].
Access method: http://www.stat.fi/til/vtp/2006/vtp_2006_2007-07-12_tie_001_en.html