Published: 14 July 2005

Gross domestic product grew by 3.6 per cent last year

According to Statistics Finland's revised preliminary data, the volume of Finland's GDP grew by 3.6 per cent last year. The initial preliminary data published in February put the rate of growth at 3.7 per cent. Growth of the economy accelerated last year when viewed against figures for the three previous years. Last year's gross domestic product, that is, the total value added of produced goods and services, amounted to EUR 150 billion.

Real growth of the economy was supported by investments which went up by five per cent having contracted for two years prior to this. Private final consumption expenditure increased by 3.2 per cent. The volume of exports grew by 5.6 per cent and that of imports by six per cent.

The disposable income of households increased by 5.4* per in real terms last year. Their income grew faster than their final consumption expenditure, so households' savings rate rose to 2.8 per cent last year. Last year's national income per capita was EUR 23,949, which is over EUR 1,000 higher than in the year before.

*Change corrected, was 5.5 %.

Growth in the volume of GDP 1996 - 2004, per cent

Source: National Accounts 2004. Statistics Finland

Inquiries: Mr Raimo Nurminen +358 9 1734 3367, Ms Anneli Miettinen +358 9 1734 2320, Ms Aili Simpanen +358 9 1734 3338, skt.95@stat.fi

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Last updated 14.7.2005

Referencing instructions:

Official Statistics of Finland (OSF): Annual national accounts [e-publication].
ISSN=1798-0623. 2004. Helsinki: Statistics Finland [referred: 14.10.2019].
Access method: http://www.stat.fi/til/vtp/2004/vtp_2004_2005-07-14_tie_001_en.html