The Finnish gross domestic product advanced 1.3 percent year-on-year in the fourth quarter of 2016, better than a preliminary reading of 0.2 percent, and following an upwardly revised 1.9 percent growth in the previous period, final data showed. Fixed investment was the main driver of growth (8.1 percent from 4.5 percent in Q3), while household consumption increased at a slower pace (2 percent from 2.3 percent) and government spending contracted (-1.3 percent from 0.5 percent). On a quarterly basis, the economy showed no growth, compared to an upwardly revised 0.6 percent growth in the third quarter. In 2016, the economy grew by 1.6 percent from the previous year, mainly boosted investments and households’ consumption expenditure. GDP Annual Growth Rate in Finland averaged 2.15 percent from 1976 until 2016, reaching an all time high of 7.60 percent in the third quarter of 1979 and a record low of -9.20 percent in the first quarter of 2009.
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The largest sector of the Finnish economy is services at 65 percent, followed by manufacturing and refining at 31 percent. Primary production is at 3 percent. Finland’s main industrial products are paper and board, electronics and metal products. Engineering and high technology industries are the leading branches of manufacturing. On the expenditure side, household consumption is the main component of GDP and accounts for 55 percent of its total use, followed by government expenditure (25 percent) and gross fixed capital formation (20 percent). Exports of goods and services account for 38 percent of GDP while imports account for 39 percent, subtracting 1 percent of total GDP. This page provides – Finland GDP Annual Growth Rate – actual values, historical data, forecast, chart, statistics, economic calendar and news. Finland GDP Annual Growth Rate – actual data, historical chart and calendar of releases – was last updated on March of 2017.