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Annual national accounts 2023

Volume of gross domestic product fell by 0.9 per cent in 2023

release

According to Statistics Finland’s data, the volume of Finland’s GDP fell by 0.9 per cent in 2023. The fall was revised slightly from the preliminary data in December (was -1.2 per cent). The data for 2023 were now published with detailed industry classification accuracy, as revised annual data from enterprises were obtained as sources.

Change

The data of the statistics on taxes and tax-like payments will be released starting from March 2025 as part of the annual national accounts. The publication of the statistics on taxes and tax-like payments will be discontinued: the last publication of the statistics was 18.9.2024.

Read more about the change

Key selections

  • The fall in the volume of GDP became revised to 0.9 per cent (in December -1.2 per cent).
  • The output and investments of construction fell in 2023. A corresponding decline in residential building construction was last seen during the financial crisis.

Value added by industry

The development of GDP remained below the EU average in Finland. In total industries (B to E), value added at current prices decreased from 2022. However, the volume of value added was growing slightly as the volume of domestic output in energy supply increased.

The value and volume of output in construction (F) declined from the previous year. Value added in construction also fell while the fall in output was faster than the fall in intermediate consumption. The weak development in the volume of construction was particularly caused by the slowdown of newbuilding.

Constant-price value added in financial intermediation and insurance (K) and accommodation and food service activities (I) was growing rapidly. The growth in the financial sector was explained by the positive impact of higher interest rates on banking. The growth in accommodation and food service activities was partly due to the return to normal after the coronavirus.

Investments

The value of investments went down in 2023. The fall was especially due to the strong slowdown of newbuilding. The volume of investments in residential buildings was falling sharply. A corresponding decline was last seen during the financial crisis.

The value of investments in wind power included in other structures was also falling in 2023. The fall in the value was affected by the record high investments in wind power in the comparison year 2022. However, significant investments in wind power continued in 2023 as well.

Tables

See key statistical data in the tables.

GDP per capita 1975-2023*

Bruttonationalprodukt (BNP) 1975-2023*

Data revisions

See key statistical data in the tables.

Revision of annual volume change, %

Revision of taxes and tax ratio

Database tables

Pick the data you need into tables, view the data as graphs, or download the data for your use.

Updated database tables
11sf
Classifications used:
Transaction
Reference period cycle:
year
Updating frequency:
irregular
Statistics:
Updated:
11yx
Classifications used:
  • Transaction
  • Sector
Reference period cycle:
year
Updating frequency:
five times a year
Statistics:
Updated:
129d
Classifications used:
  • Sector
  • Transaction
Reference period cycle:
year
Updating frequency:
five times a year
Statistics:
Updated:
129i
Classifications used:
  • Transaction
  • Industry
Reference period cycle:
year
Updating frequency:
five times a year
Statistics:
Updated:
123h
Classifications used:
  • Transaction
  • Sector
  • Industry
Reference period cycle:
year
Updating frequency:
five times a year
Statistics:
Updated:
123x
Classifications used:
Transaction
Reference period cycle:
year
Updating frequency:
five times a year
Statistics:
Updated:
11t4
Classifications used:
  • Transaction
  • Sector
Reference period cycle:
year
Updating frequency:
five times a year
Statistics:
Updated:
11ws
Classifications used:
  • Transaction
  • Sector
  • Industry
Reference period cycle:
year
Updating frequency:
five times a year
Statistics:
Updated:
127s
Classifications used:
  • Transaction
  • Sector
  • Consumption class
  • Durability class
Reference period cycle:
year
Updating frequency:
five times a year
Statistics:
Updated:
124l
Classifications used:
  • Industry
  • Sector
  • Transaction
  • Instrument
Reference period cycle:
year
Updating frequency:
five times a year
Statistics:
Updated:
New database tables
152i
Classifications used:
  • Sector
  • Tax category
Reference period cycle:
year
Updating frequency:
two times a year
Statistics:
Updated:
152j
Classifications used:
Sector
Reference period cycle:
year
Updating frequency:
two times a year
Statistics:
Updated:

Future releases

Referencing instructions

Official Statistics of Finland (OSF): Annual national accounts [online publication].
Reference period: 2023. ISSN=1798-0623. Helsinki: Statistics Finland [Referenced: 13.5.2026].
Access method:

Related topics

National economy

Contact information

Service email
kansantalous@stat.fi

Inquiries primarily

Tapio Kuusisto
Senior Statistician
029 551 3318
External link Twitter@kuusisto_tapio

Other experts

Natael Kivari
Senior Statistician
029 551 3361
External link Twitter@KivariNata

Head of Department in charge

Katri Kaaja
Head of Department in charge
029 551 3488