Slowly but steadily, the Finnish economy continues to grow despite predictions that point to a rapid deceleration.
The second quarter of 2019 has not been the best to be remembered, but the basic indicators of activity (imports, exports, private consumption and investments) ended the period in positive.
According to the latest data published by Statistics Finland, in April to June the volume of the country's gross domestic product (GDP) adjusted for working days grew by 1.2% compared with the second quarter of 2018. Finland's GDP also increased by 0.5% from the previous quarter.
Source: Statistics Finland.
Revisions also put the change in the volume of GDP in the first quarter of 2019 at 0.5% from the previous quarter (it was 0.2%) and at 0.9% from twelve months back (was 1.2%).
Imports and exports
From April to June, the volume of exports decreased by 0.5% from the previous quarter but increased by 4.1% year-on-year. Imports increased by 2.8% from the previous quarter and by 2.8% year-on-year.
The volume of private consumption grew by 0.9 per cent from the first quarter and by 0.3 per cent from twelve months back. Gross fixed capital formation, or investments, grew by 0.5 per cent from the previous quarter and by 1.1 per cent year-on-year.