Finland's GDP grew by 0.2% from the previous quarter thanks to exports
In the first quarter of 2019, the volume of exports increased by 3.9% year-on-year. However, imports and private consumption contracted.
The volume of Finland’s gross domestic product (adjusted to eliminate the effect of price changes) increased in January to March by 0.2 per cent from the previous quarter. Compared with the first quarter of 2018, GDP adjusted for working days grew by 1.2 per cent, according to Statistics Finland preliminary data.
Source: Statistics Finland.
Revisions put the change in the volume of GDP in the last quarter of 2018 at 0.5 per cent from the previous quarter (before it was 0.7 %) and at 2.2 per cent from twelve months back (was 2.2 %).
In the first quarter of 2019, the volume of exports increased by 3.0 per cent from the previous quarter and by 3.9 per cent year-on-year. Imports decreased by 5.7 per cent from the previous quarter and by 1.9 per cent year-on-year.
In the first quarter, the volume of private consumption contracted by 1.2 per cent from the previous quarter and by 0.6 per cent from twelve months back. Gross fixed capital formation, or investments, fell by 0.3 per cent from the previous quarter but grew by 0.2 per cent year-on-year.