According to Statistics Finland’s revised preliminary data, Finland’s gross domestic product grew by 3.7 per cent in 2010. In 2008, gross domestic product grew by 0.3 per cent and in 2009 it contracted by 8.4 per cent. The growth previously estimated for 2010 was 3.6 per cent. Previous estimates gave the growth for 2008 as 1.0 per cent and the contraction for 2009 as 8.2 per cent. Thus, the economic downturn was slightly deeper than previously estimated.
Annual change in the volume of gross domestic product, per cent
Gross domestic product, or the value added created in the production of goods and services amounted to EUR 180 billion in 2010.
The data became revised because new data had become available on economic development in 2009 and 2010. The data concerning 2008 are final and based on product-specific supply and use tables. The growth for 2008 became revised downwards for two main reasons. The volume of intermediate consumption grew, in consequence of which the volume of value added fell. The volume of gross domestic product was also brought down by diminished volume of taxes on products.
Households’ adjusted disposable income, which best describes their economic well-being, grew by 2.2 per cent in real terms in 2010. In addition to net income, adjusted income also takes into consideration the individual services which the public sector and organisations produce for households, such as educational, health and social services.
Source: National Accounts, Statistics Finland
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