GDP grows by 3.3% in 2021

The volume of Finland’s Gross Domestic Product (GDP) grew by 3.3 per cent in 2021, according to Statistics Finland.

According to the preliminary data, the volume of GDP increased in October to December by 0.6 per cent from the previous quarter.

Compared with the last quarter of 2020, GDP adjusted for working days grew by 2.9 per cent.

The growth started in the second quarter, when GDP exceeded its level prior to the corona pandemic and continued strong until the end of the year.

According to revised data, GDP grew by 0.9 per cent in the third quarter of 2021 from the previous quarter (was 0.8%) and by 3.5 per cent from twelve months back (was 4.2%).

In October to December, the volume of exports grew by 7.1 per cent and the volume of imports by 3.8 per cent from the level in July to September.

Gross fixed capital formation, or investments, grew by 3.0 per cent and private consumption by 0.2 per cent from the previous quarter. Government consumption expenditure went down by 0.2 per cent.