27 June, 2000
Inquiries: Mr Tuomas Rothovius +358 9 1734
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Director in charge: Mr Markku Suur-Kujala
Fast growth of GDP for the start of the millennium
In the first quarter of 2000, the volume of Finland's gross domestic product went up by 5.2 per cent compared to the same period the year before. This is indicated by the preliminary data on National Accounts compiled by Statistics Finland.
Exports increased by 12 per cent and imports by 5.3 per cent in the January to March period. Economic growth was accelerated by exports and households' consumption. Households' final consumption expenditure grew by 4.5 per cent compared to the same period last year. Households acquired new household appliances and furniture. Purchases of cars had also been postponed until the new millennium.
In the January to March period, output increased most in the metal industry, by 14.1 per cent. Output in the wood and paper industry went up by 10 per cent. Growth was also brisk in the branches of construction and transport, up by 7.4 per cent.
The wages and salaries bill of the national economy increased by good 5 per cent. Enterprises' operating surplus started to grow strongly after a slower period of over one year, up by 17 per cent.
According to Eurostat, the Statistical Office of the European Communities, the gross domestic product went up by 3.2 per cent in the EU Member States in the first quarter compared to the same period last year.
The gross domestic product includes all the goods and services produced during the January to March period, and the effect of the value of money, i.e. inflation, has been removed from its volume change.
Source: National Accounts 2000, 1st quarter. Statistics Finland