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Gross domestic product decreased by 0.6 per cent in October to December

Release related to topics:National economy
release | Quarterly national accounts 2022, 4th quarter

According to Statistics Finland, the volume of Finland’s gross domestic product decreased by 0.6 per cent in October to December 2022 compared with the previous quarter. GDP adjusted for working days was on level with the previous year. The volume of GDP grew by 2.0 per cent in the whole of 2022. Russia’s attack on Ukraine and the rapid rate of inflation weakened both consumers’ and entrepreneurs’ confidence in the future. The weakened expectations began to be realised in the latter half of the year, when GDP and private consumption made a downturn.

Key selections

  • In October to December 2022, the volume of exports decreased by 2.9 per cent from the level in the previous quarter. The volume of imports declined by 2.4 per cent. In the whole of 2022, the volume of exports grew by 1.5 per cent and that of imports by 7.4 per cent.
  • In October to December 2022, private consumption decreased by 0.6 per cent from the level in July to September. In 2022, private consumption increased by 2.1 per cent.
  • In the last quarter of 2022, government consumption expenditure decreased by 1.2 per cent from the level in July to September. In 2022, government consumption increased by 1.1 per cent.
  • Gross fixed capital formation, or investments, contracted by 2.0 per cent in October to December 2022 from the previous quarter. Both private and public investments decreased. Investments increased by 5.8 per cent in the whole of 2022.

Data revisions

See key statistical data in the tables.

Revision of volume changes in GDP

Revision of volume changes in imports

Revision of volume changes in exports

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Updated database tables
11tj
Classifications used:
  • Transaction
  • Industry
Reference period cycle:
quarter
Updating frequency:
eight times a year
Statistics:
Updated:
132g
Classifications used:
  • Transaction
  • Industry
Reference period cycle:
quarter
Updating frequency:
eight times a year
Statistics:
Updated:
132h
Classifications used:
  • Transaction
Reference period cycle:
quarter
Updating frequency:
eight times a year
Statistics:
Updated:

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Referencing instructions

Official Statistics of Finland (OSF): Quarterly national accounts [online publication].
Reference period: 2022, 4th quarter. ISSN=1797-9765. Helsinki: Statistics Finland [Referenced: 22.11.2024].
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