Wednesday. 29.03.2023

Finland's GDP contracted in the last quarter of 2019

The fall in investments and government expenditure led to the decline in GDP.


The volume of Finland's Gross Domestic Product (GDP) decreased in October to December by 0.7% compared to the previous quarter. Volume refers to data from which the effects of price changes have been eliminated.

In annual terms, the GDP adjusted for working days grew by 0.4% compared to the last quarter of 2018, according to Statistics Finland.

In the whole of 2019, the volume of GDP grew by 1%. The biggest growth figures were recorded in the second and third quarters, but in the fourth came the contraction.

In October to December, gross fixed capital formation (investments) fell by 3.1%. Private consumption grew by 1.5%, but government consumption expenditure declined by 1.9% from one year back.

The volume of exports grew by 8.2% and that of imports decreased by 0.7% year-on-year in the same period.

Finland's GDP contracted in the last quarter of 2019