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Published: 17 September 2021

Gross domestic product fell by 2.9 per cent in 2020

According to Statistics Finland’s preliminary data, the volume of Finland’s GDP fell by 2.9 per cent in 2020. The effects of the corona crisis varied between industries. Some of the largest declines concerned the accommodation and food services activities and transportation. The preliminary data for September mainly revises data concerning the rest of the world. The volume change of GDP for 2020 remained on level with the previous round.

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

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

The release text for July has a more comprehensive description of the data for 2020. The September data comprise annual data collection for the statistics on balance of payments and for example, primary income from the rest of the world was updated from the preliminary round in the summer.

In connection with the September publication, we have also updated the database tables of quarterly national accounts in accordance with the European revision policy.

Source: National Accounts 2020, Third preliminary data. Statistics Finland

Inquiries: Tapio Kuusisto 029 551 3318, Jarkko Kaunisto 029 551 3551,

Head of Department in charge: Katri Kaaja

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Revisions in these statistics

Updated 17.9.2021

Referencing instructions:

Official Statistics of Finland (OSF): Annual national accounts [e-publication].
ISSN=1798-0623. 2020. Helsinki: Statistics Finland [referred: 9.2.2023].
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