GDP ups by 1.7 % in 2018

The volume of Finland’s Gross Domestic Product (GDP) grew by 1.7 per cent in 2018, according to Statistics Finland.

The initial preliminary data released in March, however, put the rate of growth at 2.3 per cent.

Gross domestic product, or the value added created in the production of goods and services, amounted to EUR 232 billion.

The downwards revision of GDP was mainly due to annual data on purchases made by enterprises being received, which increased intermediate consumption.

The calculation for 2017 has also become revised. In 2017, the volume of GDP increased by 3.0 per cent whereas previous estimates put the growth at 2.7 per cent. The current priced value of the GDP remained at the level of the March release, at EUR 224 billion. The volume revision was caused by the product structure being updated.