Gross domestic product grew by 1,2 per cent from the previous quarter

According to Statistics Finland's preliminary data, the volume ¹⁾ of Finland's gross domestic product increased in January to March by 1.2 per cent from the previous quarter. Compared with the first quarter of 2016, GDP adjusted for working days grew by 2.7 per cent.

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

Revisions put the change in the volume of GDP in the last quarter of 2016 at 0.6 per cent from the previous quarter (was 0.0%) and at 1.8 per cent from twelve months back (was 1.3%).

In the first quarter of 2017, the volume of exports grew by five per cent from the previous quarter and by close on nine per cent year-on-year. Imports decreased by one per cent from the previous quarter but increased by nearly four per cent from one year ago.

In the first quarter, the volume of private consumption grew by one and a half per cent from the previous quarter and by good three per cent from twelve months back. Gross fixed capital formation, or investments, grew by four per cent from the previous quarter and by nine 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 2017, 1st quarter. Statistics Finland

Inquiries: Samu Hakala 029 551 3756, Veli-Pekka Karvinen 029 551 2667, kansantalous.suhdanteet@stat.fi

Director in charge: Ville Vertanen

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Reviews

Output of Finlands national economy grew on a broad front in January to March (1.6.2017)

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Revisions in these statistics

Revisions on these statistics (1.6.2017)

Updated 1.6.2017

Referencing instructions:

Official Statistics of Finland (OSF): Quarterly national accounts [e-publication].
ISSN=1797-9765. 1st quarter 2017. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/ntp/2017/01/ntp_2017_01_2017-06-01_tie_001_en.html