Published: 5 September 2013

Gross domestic product grew by 0.2 per cent from the previous quarter but contracted by 1.2 per cent year-on-year

According to preliminary data of Statistics Finland, in the April to June period of 2013 the volume of Finland’s gross domestic product increased by 0.2 per cent from the previous quarter. Compared to the second quarter of 2012, working-day adjusted GDP contracted by 1.2 per cent.

Gross domestic product by quarter at reference year 2000 prices (EUR billion)

Revisions put the change in the volume of GDP in the first quarter of 2013 at -0.2 per cent from the previous quarter (was -0.1%) and at -2.8 per cent from twelve months back (was -2.1%).

In the second quarter, the volume of exports fell by 0.1 per cent from the previous quarter and by 2.3 per cent year-on-year. Imports increased by 0.3 per cent from the previous quarter but decreased by 7.2 per cent year-on-year.

In the second quarter, the volume of private consumption contracted by 0.3 per cent from the previous quarter but grew by 1.6 per cent from twelve months back. Gross fixed capital formation diminished by 0.1 per cent from the previous quarter and by 1.3 per cent year-on-year.

Volume refers to data from which the effects of price changes have been eliminated. Volumes at reference year 2000 prices are expressed relative to the 2000 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 2013, 2nd quarter. Statistics Finland

Inquiries: Samu Hakala 09 1734 3756, Veli-Pekka Karvinen 09 1734 2667, kansantalous.suhdanteet@stat.fi

Director in charge: Leena Storgårds

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Reviews

1.Downturn in Finnish economy easing off, secondary production and services still at lower levels than one year ago (5.9.2013)

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Revisions in these statistics

Revisions on these statistics (5.9.2013)

Updated 5.9.2013

Referencing instructions:

Official Statistics of Finland (OSF): Quarterly national accounts [e-publication].
ISSN=1797-9765. 2nd quarter 2013. Helsinki: Statistics Finland [referred: 8.10.2013].
Access method: http://www.stat.fi/til/ntp/2013/02/ntp_2013_02_2013-09-05_tie_001_en.html.

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