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Published: 10 July 2008

Gross domestic product grew by 4.5 per cent in 2007

According to Statistics Finland's revised preliminary data, the volume of Finland's GDP grew by 4.5 per cent last year. In February the growth was estimated to be 4.4 per cent. Gross domestic product stood at EUR 180 billion in 2007.

All demand items in the national economy went up last year. The volume of investments grew by 8.5 per cent, the fastest rate in the 2000s. Consumption went up steadily by 2.7 per cent. The volume of exports increased by 8.2 per cent. The volume of imports went up by 6.6 per cent.

GDP was increased most by growth in manufacturing. Especially in the manufacture of electrical and electronic products value added increased substantially. Last year, value added also increased exceptionally much in agriculture and forestry. Construction continued briskly and the fastest growth among services was recorded in business activities.

Non-financial corporations' profits were higher than ever before last year. In 2007, general government surplus was nearly EUR 10 billion, which was also larger than ever before. Households' real income grew by 2.9 per cent, but the stock of debts exceeded one year's disposable income for the first time.

 

Year-on-year change in the volume of gross domestic product, per cent

Source: National Accounts 1998-2007. Statistics Finland

Inquiries: Mr Olli Savela +358 9 1734 3316, Ms Aila Heinonen +358 9 1734 3338, skt.95@stat.fi

Director in charge: Mr Ari Tyrkkö

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• Gross domestic product grew by 4.5 per cent in 2007 (10.7.2008)

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Appendix tables

• Gross domestic product (GDP) at market prices 1975 - 2007* (10.7.2008)
• National balance of supply and demand 2006* - 2007* (10.7.2008)
• National income 2006* - 2007* (10.7.2008)
• Net lending 2006* - 2007* (10.7.2008)

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Last updated 10.7.2008