Home > Statistics > Quarterly national accounts > 2012 > 3rd quarter > Gross domestic product contracted by 0.1 per cent from the previous quarter and by 1.2 per cent year-on-year

Published: 5 December 2012

Gross domestic product contracted by 0.1 per cent from the previous quarter and by 1.2 per cent year-on-year

According to preliminary data of Statistics Finland, in the July to September period of 2012 the volume of Finland’s gross domestic product decreased by 0.1 per cent from the previous quarter. Compared to the third quarter of 2011, working-day adjusted GDP went down by 1.2 per cent. The third quarter had one fewer working day than one year previously.

Gross domestic product by quarter at reference year 2000 prices

The change of GDP in the second quarter remained at -1.1 per cent from the previous quarter, but became revised to -0.3 per cent from one year before (was -0.1%).

In the third quarter, the volume of exports grew by 2.4 per cent from the previous quarter but contracted by 1.8 per cent from twelve months back. Imports decreased by 3.7 per cent from the previous quarter and by 4.1 per cent year-on-year.

In the third quarter, the volume of private consumption grew by 0.8 per cent from the previous quarter and by 0.6 per cent from twelve months back. Investments diminished by 1.1 per cent from the previous quarter and by 4.4 per cent year-on-year.

In this release, the time series for value added in agriculture has been revised for all quarters. The new time series is based on the output indicator, while the previous indicator was an estimate for value added. Changing the indicator has no effect on the annual level data.

Volume refers to value adjusted for price changes. Volumes at reference year 2000 prices are expressed relative to the 2000 level at current prices (in EUR). 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 2012, 3rd 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 5.12.2012