Home > Statistics > Quarterly national accounts > 2009 > 4th quarter > Gross domestic product remained on level with the previous quarter but fell by 5.1 per cent year-on-year

Published: 1 March 2010

Gross domestic product remained on level with the previous quarter but fell by 5.1 per cent year-on-year

According to preliminary data of Statistics Finland, in the fourth quarter of 2009 the volume of Finland’s GDP changed by 0.0 per cent from the previous quarter. Compared to the last quarter of 2008, GDP was down by 5.1 per cent. The fourth quarter had one more working day than one year previously.

The change of GDP in the third quarter remained at +0.3 per cent from the previous quarter, but became revised to -8.9 per cent from one year before (was -9.1%). The data of the seasonally adjusted and trend series always become revised as new observations become available. Revisions especially at turning points of economic trends may be significant, which should be taken into consideration when using seasonally adjusted and trend data.

Gross domestic product by quarter at reference year 2000 prices

The volume of exports grew by 7.4 per cent from the previous quarter but contracted by 13.8 per cent year-on-year. Imports increased by 0.7 per cent from the previous quarter but decreased by 16.5 per cent year-on-year. In the fourth quarter, the volume of private consumption grew by 0.7 per cent from the previous quarter and was 0.7 per cent up on twelve months back. Investments grew by 2.7 per cent from the previous quarter but fell by 9.3 per cent year-on-year. Inventories diminished by nearly EUR 2.5 billion at current prices, of which the delivery of a cruise liner in October accounted for around EUR 1 billion.

Volume refers to data adjusted for price changes. Volumes at reference year 2000 prices are expressed relative to the 2000 level in euros. Change percentages from the quarter of the previous year have been calculated from time series adjusted for working days, and change percentages from the previous quarter from seasonally adjusted time series.

Source: National Accounts 2009, 4th quarter. Statistics Finland

Inquiries: Pasi Koikkalainen (09) 1734 3332, Samu Hakala (09) 1734 3756, kansantalous.suhdanteet@stat.fi

Director in charge: Ari Tyrkkö

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Updated 1.3.2010