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Gross domestic product grew by 0.3 per cent in April to June 2024

release 30/08/2024 | Quarterly national accounts 2024, 2nd quarter

According to Statistics Finland, the volume of Finland’s gross domestic product grew in April to June 2024 by 0.3 per cent from the level of the previous quarter. Adjusted for working days, GDP was 1.2 per cent lower than one year previously. According to preliminary data compiled by Eurostat, GDP in the EU area grew by 0.3 per cent in April to June 2024 from the previous quarter.

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In April to June 2024, the volume of exports increased by 8.1 per cent from the level of the previous quarter. The volume of imports went up by 1.1 per cent.
Private consumption declined by 1.1 per cent in April to June 2024 from the level in January to March.
Government consumption expenditure increased by 1.2 per cent in the second quarter of 2024 from the level in January to March.
Gross fixed capital formation, or investments, contracted in the second quarter of 2024 by 2.1 per cent from the previous quarter. Private investments contracted but public sector investments increased.

Statistics used in the release

Quarterly national accounts

Data revisions

See key statistical data in the tables.

30/08/2024

Revision of volume changes in GDP

	2023Q2	2023Q3	2023Q4	2024Q1
Seasonally adjusted quarter-on-quarter change, %	1. release	0.6	-0.9	-0.7	0.2
Previous release	0.6	-1	-0.8	0.2
Latest release	0.3	-1.2	-0.6	0.3
Revision, %-points (latest minus first)	-0.3	-0.3	0.1	0.1
Working day adjusted year-on-year change, %	1. release	-0.4	-1.2	-1.8	-1.2
Previous release	-0.5	-1.6	-1.5	-1.2
Latest release	-0.9	-2	-1.5	-1.3
Revision, %-points (latest minus first)	-0.5	-0.8	0.3	-0.1

30/08/2024

Revision of volume changes in imports

	2023Q2	2023Q3	2023Q4	2024Q1
Seasonally adjusted quarter-on-quarter change, %	1. release	-1.2	-3.2	-1.5	-0.5
Previous release	-0.8	-3.5	-0.9	-0.5
Latest release	-0.7	-3	0.4	-1.6
Revision, %-points (latest minus first)	0.5	0.2	1.9	-1.1
Working day adjusted year-on-year change, %	1. release	-7.7	-9.8	-9.7	-5.7
Previous release	-6.8	-9.6	-8.9	-5.7
Latest release	-7	-9.2	-6.8	-4.9
Revision, %-points (latest minus first)	0.7	0.6	2.9	0.8

30/08/2024

Revision of volume changes in exports

	2023Q2	2023Q3	2023Q4	2024Q1
Seasonally adjusted quarter-on-quarter change, %	1. release	-0.2	-1.8	-1	-4.6
Previous release	-0.6	-2.8	-0.8	-4.6
Latest release	-1.5	-2	-0.3	-5
Revision, %-points (latest minus first)	-1.3	-0.2	0.7	-0.4
Working day adjusted year-on-year change, %	1. release	-1.2	-3.7	-6.2	-7.3
Previous release	0.5	-4.5	-6.1	-7.3
Latest release	1.9	-2.7	-4.4	-8
Revision, %-points (latest minus first)	3.1	1	1.8	-0.7

Database tables

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Updated database tables

11tj

Employment and hours worked quarterly(External link)

Classifications used:

Transaction
Industry

Period:

quarter

Statistics:

Quarterly national accounts

Updated:

30/08/2024

132g

Income and production by industry, quarterly(External link)

Classifications used:

Transaction
Industry

Period:

quarter

Statistics:

Quarterly national accounts

Updated:

30/08/2024

132h

Gross domestic product and national income, supply and demand, quarterly(External link)

Classifications used:

Transaction

Period:

quarter

Statistics:

Quarterly national accounts

Updated:

30/08/2024

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kansantalous.suhdanteet@stat.fi

Samu Hakala

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