GDP grows by 3.3% in Q3

The volume of Finland’s gross domestic product (GDP) increased by 3.3 per cent in the third quarter (July-September) on the previous quarter, according to the Statistics Finland.

Compared with the GDP in third quarter of 2019, it was adjusted for working days contracted by 2.7 per cent.

According to the revised data, GDP contracted in April to June by 3.9 per cent from that in the previous quarter (-4.5%) and by 6.2 per cent from that in 12 months ago (-6.4%).

In the third quarter of 2020, the volume of exports increased by 2.6 per cent from that in the second quarter but contracted by 12.7 per cent year on year.

Imports grew by 4.7 per cent from that in the previous quarter but contracted by 9.8 per cent year on year.

In the third quarter, the volume of private consumption went up by 2.9 per cent from that in the previous quarter but contracted by 3.6 per cent year on year.

Gross fixed capital formation, or investments, fell by 0.3 per cent from that in the previous quarter and by 2.0 per cent year on year.