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Gross domestic product grew by 0.2 per cent in January to March

release | Quarterly national accounts 2023, 1st quarter

Correction

Time series of employment (EEM) have been corrected.
Read more about the correction

Correction

Gross domestic product adjusted for working day has been corrected.
Read more about the correction

According to Statistics Finland, the volume of Finland’s gross domestic product grew in January to March 2023 by 0.2 per cent from the previous quarter. Gross domestic product adjusted for working days was 0.4 per cent lower than one year ago. Contraction of investments slowed down the growth of the national economy.

The line chart shows the development of GDP starting from the first quarter of 2015. The level of GDP fell sharply as the coronavirus crisis started in the second quarter of 2020. After this, GDP has showed an upward trend, until it made a downturn in the third quarter of 2022. GDP grew again in the first quarter of 2023.

Key selections

  • In January to March 2023, the volume of exports decreased by 0.1 per cent from the previous quarter. The volume of imports declined by 2.7 per cent.
  • Private consumption grew by 0.1 per cent in January to March 2023 from the level in October to December.
  • Government consumption expenditure increased by 3.1 per cent in the first quarter of 2023
    from the level in October to December.
  • Gross fixed capital formation, or investments, contracted in January to March 2023 by
    3.0 per cent from the previous quarter. Both private and public investments decreased.

Data revisions

See key statistical data in the tables.
31.05.2023

Revision of volume changes in exports

31.05.2023

Revision of volume changes in imports

31.05.2023

Revision of volume changes in GDP

Database tables

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Updated database tables
11tj
Classifications used:
  • Transaction
  • Industry
Period:
quarter
Statistics:
Updated:
132g
Classifications used:
  • Industry
  • Transaction
Period:
quarter
Statistics:
Updated:
132h
Classifications used:
  • Transaction
Period:
quarter
Statistics:
Updated:

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