Gross domestic product decreased by 0.2 per cent in October to December 2024

Release related to topics:National economy

release 28/02/2025 | Quarterly national accounts 2024, 4th quarter

According to Statistics Finland, the volume of Finland's gross domestic product decreased in October to December 2024 by 0.2 per cent from the previous quarter. Adjusted for working days, GDP grew by 1.2 per cent from the quarter of one year ago. Throughout 2024, GDP contracted by 0.2 per cent from the year before. According to preliminary data compiled by Eurostat, GDP in the EU area grew by 0.2 per cent in October to December 2024 from the previous quarter and by 0.9 per cent in the whole year from the year before.

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Key selections

In October to December 2024, the volume of exports decreased by 0.9 per cent from the previous quarter. The volume of imports declined by 1.4 per cent.
In October to December 2024, private consumption decreased by 0.6 per cent from the July to September level.
Government consumption expenditure increased by 1.2 per cent in the fourth quarter of 2024 from the level in July to September.
Gross fixed capital formation, or investments, remained on level with the previous quarter in the fourth quarter of 2024.
Private investments contracted by 0.7 per cent from the previous quarter. Public sector investments grew by 2.3 per cent.

Statistics used in the release

Quarterly national accounts

Data revisions

See key statistical data in the tables.

28/02/2025

Revision of volume changes in GDP

	2023Q4	2024Q1	2024Q2	2024Q3
Seasonally adjusted quarter-on-quarter change, %	1. release	-0.7	0.2	0.3	0.3
Previous release	-0.4	0.4	0.1	0.3
Latest release	-0.1	0.4	0.2	0.5
Revision, %-points (latest minus first)	0.6	0.2	-0.1	0.2
Working day adjusted year-on-year change, %	1. release	-1.8	-1.2	-1.2	0.5
Previous release	-1.5	-1.2	-1.5	0.5
Latest release	-1.2	-1.6	-1.2	0.9
Revision, %-points (latest minus first)	0.6	-0.4	0	0.4

28/02/2025

Revision of volume changes in imports

	2023Q4	2024Q1	2024Q2	2024Q3
Seasonally adjusted quarter-on-quarter change, %	1. release	-1.5	-0.5	1.1	0.3
Previous release	0.8	-1.8	2.1	0.3
Latest release	0.5	-0.2	-0.8	0.1
Revision, %-points (latest minus first)	2	0.3	-1.9	-0.2
Working day adjusted year-on-year change, %	1. release	-9.7	-5.7	-3.2	1.3
Previous release	-6.1	-4.7	-2	1.3
Latest release	-7	-2.7	-4.1	-0.6
Revision, %-points (latest minus first)	2.7	3	-0.9	-1.9

28/02/2025

Revision of volume changes in exports

	2023Q4	2024Q1	2024Q2	2024Q3
Seasonally adjusted quarter-on-quarter change, %	1. release	-1	-4.6	8.1	1.6
Previous release	0.1	-4.5	8.7	1.6
Latest release	0.7	-4.3	8	-0.4
Revision, %-points (latest minus first)	1.7	0.3	-0.1	-2
Working day adjusted year-on-year change, %	1. release	-6.2	-7.3	0.8	6.1
Previous release	-4.1	-7.6	1.9	6.1
Latest release	-3.9	-6.6	1.9	3.6
Revision, %-points (latest minus first)	2.3	0.7	1.1	-2.5

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Updated database tables

11tj

Employment and hours worked quarterly(External link)

Classifications used:

Transaction
Industry

Reference period cycle:

quarter

Updating frequency:

eight times a year

Statistics:

Quarterly national accounts

Updated:

28/02/2025

132g

Income and production by industry, quarterly(External link)

Classifications used:

Transaction
Industry

Reference period cycle:

quarter

Updating frequency:

eight times a year

Statistics:

Quarterly national accounts

Updated:

28/02/2025

132h

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

Classifications used:

Transaction

Reference period cycle:

quarter

Updating frequency:

eight times a year

Statistics:

Quarterly national accounts

Updated:

28/02/2025

Future releases

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Documentation

Description of the production, used methods and quality of the statistics.

Go to documentation of the statistics

Referencing instructions

Official Statistics of Finland (OSF): Quarterly national accounts [online publication].

Reference period: 2024, 4th quarter. ISSN=1797-9765. Helsinki: Statistics Finland [Referenced: 4.3.2025].

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Statistical experts

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Samu Hakala

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029 551 3756

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029 551 3613

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Katri Kaaja

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029 551 3488