Gross domestic product grew in July to September

According to Statistics Finland's preliminary data, the volume ¹⁾ of Finland’s gross domestic product increased in July to September by 0.4 per cent from the previous quarter. Compared with the third quarter of 2015, GDP adjusted for working days grew by 1.6 per cent.

Gross domestic product by quarter at reference year 2010 prices (EUR billion)

According to revised data, the volume of GDP in the second quarter of 2016 contracted by 0.1 per cent from the previous quarter (was 0.0%) but grew by 0.9 per cent from twelve months back (was 0.4%).

In the third quarter, the volume of exports declined by 3.4 per cent from the previous quarter but increased by 1.4 per cent year-on-year. Imports decreased by 3.3 per cent from the previous quarter but increased by 0.7 per cent year-on-year.

In July to September, the volume of private consumption grew by 0.5 per cent from the previous quarter and by 2.1 per cent from twelve months back. Gross fixed capital formation, or investments, fell by 0.3 per cent from the previous quarter but grew by 3.1 per cent year-on-year.

1) Volume refers to data from which the effects of price changes have been eliminated. Volumes at reference year 2010 prices are expressed relative to the 2010 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 2016, 3rd quarter. Statistics Finland

Inquiries: Samu Hakala 029 551 3756, Pekka Tamminen 029 551 2460, kansantalous.suhdanteet@stat.fi

Director in charge: Ville Vertanen

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Reviews

Output of Finlands national economy grew in July to September, especially manufacturing industries developed favourably (2.12.2016)

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Revisions in these statistics

Revisions on these statistics (Correction) (2.12.2016)

Updated 2.12.2016

Referencing instructions:

Official Statistics of Finland (OSF): Quarterly national accounts [e-publication].
ISSN=1797-9765. 3rd quarter 2016. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/ntp/2016/03/ntp_2016_03_2016-12-02_tie_001_en.html