Finland’s GDP grew 1.2% quarter-on-quarter in the first quarter of 2018 and 3.1% year-on-year. The Finnish economy has now grown for ten consecutive quarters.

Global demand, improved competitiveness and favourable financing conditions will support growth. GDP growth forecasts for 2018–2020 stand at 2,9%, 2,2%, and 1,7%. Inflation will remain close to 1% over the years 2018–2019 before gathering pace and reaching 1.5% in 2020.

During the third quarter of 2017, Finland’s GDP increased by 3%, private consumption by 2.1% and public consumption by 1.8% year on year. Investments increased by 9.3%.

According to the most recent quarterly national accounts, Finland’s GDP in the first quarter of 2017 grew 1.2% quarter on quarter and 2.7% year on year.

The latest quarterly national accounts give a better picture of GDP developments in 2016 than the previously published statistical data.

Throughout 2016–2018 the Finnish economy will grow by around 1% per annum and investment will finally begin to increase. With exports still sluggish, however, growth will depend on domestic demand. Inflation will be slow throughout the forecast period.

According to the most recent quarterly national accounts, real GDP in the first quarter of 2016 grew by 0.6% quarter on quarter and 1.6% year on year.

Advance quarterly national accounts data published on December 4 contain the latest statistical data on Finnish economic developments in the third quarter of 2015.