GDP grows by 2.7% last year

The volume of country’s Gross Domestic Product (GDP) grew by 2.7 per cent in 2017, according to Statistics Finland.

Last year, GDP that describes the output of the national economy stood at EUR 224 billion. National income describing the income of the national economy went up by 3.4 per cent in real terms

The demand of the national economy went up by 3.6 per cent last year. Demand was particularly boosted by growth in investments and increased exports.

Investments were 6.3 per cent higher than one year previously. The volume of private consumption went up by 1.6 per cent and public consumption by 1.3 per cent. The volume of exports grew by 7.8 per cent and that of imports by 3.5 per cent.

Non-financial corporations' operating surplus describing profits from their actual operations grew by as much as 17.5 per cent. Entrepreneurial income that describes the profit before payment of taxes and dividends grew by ten per cent.

It is estimated that non-financial corporations paid around six per cent less dividends and 27 per cent more direct taxes than in the year before. Non-financial corporations' financial position showed a surplus of EUR 8 billion.

The financial position of financial and insurance corporations showed a surplus of EUR one billion. Financial corporations’ interest income (financial intermediation services indirectly measured) grew slightly and commission income increased by good two per cent.