Finland GDP Growth Rate table by year, historic, and current data. (NA) This entry gives GDP growth on an annual basis adjusted for inflation and expressed as a … Share. On a yearly basis, the economy shrank 6.4 percent in the second quarter, following an upwardly revised 1.3 percent contraction in the prior quarter. Finland's main challenges will be reducing high labor costs and boosting demand for its exports. Finland gdp growth rate for 2016 was 2.71%, a 2.17% increase from 2015. In June 2016, the government enacted a Competitiveness Pact aimed at reducing labor costs, increasing hours worked, and introducing more flexibility into the wage bargaining system. A distinctive feature of Finnish economic growth, especially since the Second World War, has been the major significance of growth in productivity. Value & Rank The GDP growth rate of Finland is -0.60 (%) with a global rank of 193. However, uncertainty lingers over further waves of the virus, clouding the outlook. Economic forecast for Finland; Economic forecast for Finland. Details. Publish your articles and forecasts in our website. Source: World Bank > Finland > Finland GDP Growth Rate. GDP growth forecast: Western Europe, U.S., U.K. and Germany 2010-2023 Gross domestic product (GDP) in Finland 2021 Gross domestic product (GDP) growth rate in Finland 2025 Finland's main challenges will be reducing high labor costs and boosting demand for its exports. The Finnish gross domestic product contracted by 4.5 percent quarter-on-quarter in the June quarter 2020, the steepest contraction since the first quarter 2009, after an upwardly revised 1.9 percent contraction in the previous period, and worse than an earlier estimate of a 3.2 percent contraction. The employment rate is defined with respect to the economically active population and therefore captures the (inverse) changes in the structural unemployment rate. The lowest data : 2009 is the lowest year for the indicator : Growth rate of GDP (%). World Economics makes available of world’s most comprehensive GDP database covering over 130 countries with historical GDP PPP data from 1870-2019, building on the lifetimes work of Angus Maddison. Economic growth > Evolution of GDP > Real GDP growth: In order to calculate the growth rate of GDP free of the direct effects of inflation, data at fixed, or constant, prices should be used. Slash and burn cultivation finally gave way to field cultivation during the nineteenth century, even in the eastern parts of the country. Direct access to our calendar releases and historical data. The economy will continue to grow by 1.1% in 2017, and by 1.0% in 2018. The analysed country is : Finland. Its overall score has increased by 0.8 point, helped by a higher score for fiscal health. Although services account for 65 percent of Finnish economy, key sector is manufacturing, mainly wood, metals, engineering, telecommunications, and electronics industries. Finnish Consumer Morale Strongest in 5 Months, Finnish Jobless Rate Rises to 6.9% in November, Finnish Economy Shrinks the Least in 8 Months, Finnish Inflation Rate Unchanged at 0.2% in November, Finnish Current Account Surplus Largest in 10 Months, Finnish GDP Growth Revised Up to 3.3% in Q3, Finnish Producer Prices Fall for 5th Month, Finnish Industrial Output Rises the Least in 4 months, South Korea Export Growth Beats Estimates, Mexican Peso Suffers Worst Year Since 2016, Kenya December Inflation Rate Hits 8-Month High, Colombia Exports Continue to Fall in November, Russia Inflation Rate Soars to Over 1-1/2-Year High, Zambia December Inflation Rate Soars to Over 4-Year High, US Weekly Jobless Claims Fall More Than Forecast. GDP From Agriculture in Finland averaged 1052.89 EUR Million from 1990 until 2020, reaching an all time high of 1308 EUR Million in the fourth quarter of 2017 and a record low of 854 EUR Million in the fourth quarter of 1991. A Look at the Markets. According to the Bank of Finland forecast, Finnish GDP will grow by 1.1% in 2016. GDP Annual Growth Rate in Finland averaged 2.09 percent from 1976 until 2020, reaching an all time high of 7.60 percent in the third quarter of 1979 and a record low of -9.10 percent in the second quarter of 2009. Our tools allow individuals and organizations to discover, visualize, model, and present their data and the world’s data to facilitate better decisions and better outcomes. 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