Published: 8 September 2006
In the second quarter of 2006, the volume of Finland's gross domestic product grew by 1.9 per cent from the previous quarter. Compared with the second quarter of 2005, GDP was 6 per cent higher, and adjusted seasonally, the corresponding change in GDP was 6.6 per cent from the year before. In 2006, the second quarter had three fewer working days than in 2005. An industrial dispute in the wood and paper industry also coincided with the comparison quarter. According to revised data, in the first quarter of 2006 gross domestic product grew by 5.9 per cent from the first quarter of 2005 and by 2.1 per cent from the previous quarter. The data derive from the preliminary national accounts compiled by Statistics Finland.
The output of the national economy was increased in the second quarter of the year by all the demand components: exports, household consumption and investments. In April to June households' consumption expenditure increased by 3.5 per cent from one year ago. Purchases of clothing, footwear, furniture and, especially household appliances and electronics, were plentiful. Fixed investments grew by just short of 3 per cent. Construction investments went up by 5 per cent and investments in machinery and equipment by under one per cent. Imports increased by 7 per cent from the year before and the volume of exports grew by nearly 15 per cent.
Gross domestic product by quarter at 2000 prices
The calculation method of value added has been revised in quarterly national accounts. Value added by industry is now calculated by subtracting intermediate consumption from output.
At the same time, the fixed base year was changed into a varying one so that the base year is always the preceding year but released data are expressed at the prices of the reference year 2000.
The data on previous quarters will also always be reviewed when data are released on a new quarter. Quarterly data continue to be revised until final annual accounts data are published at the lag of around two years.
Source: National Accounts 2006, 2nd quarter. Statistics Finland
Inquiries: Mr Erkki Lääkäri +358 9 1734 3355, email@example.com
Director in charge: Mr Ari Tyrkkö
Tables in databases
Last updated 8.9.2007