Finland - Real Gross Domestic Product

Finland: Real Gross Domestic Product

Mnemonic GDP$.IFIN
Unit Mil. Ch. 2010 EUR, WDASA
Adjustments Working Day Adjusted and Seasonally Adjusted
Quarterly 4.49 %
Data 2020 Q2 48,252
2020 Q1 50,521

Series Information

Source Statistics Finland
Release Quarterly National Accounts
Frequency Quarterly
Start Date 3/31/1990
End Date 6/30/2020

Finland: GDP

Reference Last Previous Units Frequency
Nominal Gross Domestic Product 2020 Q2 57,369 59,790 Mil. EUR, WDASA Quarterly
Private Consumption 2020 Q2 28,117 31,233 Mil. EUR, WDASA Quarterly
Real Government Consumption 2020 Q2 11,811 11,916 Mil. Ch. 2010 EUR, WDASA Quarterly
Real Gross Domestic Product 2020 Q2 48,252 50,521 Mil. Ch. 2010 EUR, WDASA Quarterly
Real Private Consumption 2020 Q2 25,193 27,063 Mil. Ch. 2010 EUR, WDASA Quarterly
Government Consumption 2017 51,522,000,000 51,705,000,000 NCU Annual
Investment 2017 50,974,000,000 47,249,000,000 NCU Annual
Nominal Fixed Investment (gross fixed capital formation) 2017 50,503,000,000 46,549,000,000 NCU Annual
Real Fixed Investment (gross fixed capital formation) 2017 44,513,000,000 41,868,000,000 NCU Annual
Real Investment 2017 44,297,000,000 42,480,000,000 NCU Annual

Release Information

Quarterly National Accounts describe Finland's economy systematically and according to the same concepts and definitions as annual national accounts, but at a more aggregated level. 

The statistics are produced in accordance with the European System of Accounts (ESA 2010), adopted with a regulation of the EU Council 2013. The economy is described from the perspectives of output, demand and in-come formation. The examination extends to data at current prices and chain-linked volume data where the reference year is 2010. The produced data show how Finland's GDP has developed by quarter, which activities have grown and by how much, whether output has grown because of exports or investments, how the consumption of households has changed from the previous quarter and how much wages and salaries have risen from the previous quarter. The data includes original, seasonally adjusted and trend series. The time series start from the year 1990.

Volume refers to data adjusted for price changes. One problem with current price estimates is that price fluctuations can often dominate the changes in value. Volume estimates are needed to separate real changes in economic activity from these price changes. That is why the percentage change of GDP is normally dervied from the volume estimates. Volume in national accounts is not simply a measure of quantity because it also comprises changes in quality.

Chain-linking means that the volume data of each year are first calculated at previous year prices. From these the annual volume changes are calculated, which are then linked together to form a chain-linked volume time series. An alternative way of calculating volume series, prior to 2006, is to use a fixed base year.