Home > Statistics > Quarterly national accounts > 2012 > 2nd quarter > Gross domestic product contracted by 1.1 per cent from the previous quarter and by 0.1 per cent year-on-year

Published: 5 September 2012

Gross domestic product contracted by 1.1 per cent from the previous quarter and by 0.1 per cent year-on-year

Corrected on 5 September 2012 at 9.50. The correction is indicated in red. Was previously second.

According to preliminary data of Statistics Finland, in the April to June period of 2012 the volume of Finland’s gross domestic product decreased by 1.1 per cent from the previous quarter. Compared to the second quarter of 2011, working-day adjusted GDP fell by 0.1 per cent. The second quarter had one fewer working day than one year previously.

Gross domestic product by quarter at reference year 2000 prices

Revisions put the change in the volume of GDP in the first quarter of 2012 at +0.9 per cent from the previous quarter (was +0.8 %) and at +2.2 per cent from twelve months back (was +1.7 %). The revision was primarily caused by upward revision of taxes on products.

In the second quarter, the volume of exports fell by 2.3 per cent from the previous quarter and by 0.5 per cent year-on-year. Imports decreased by 3.6 per cent from the previous quarter and by 3.1 per cent year-on-year.

In the second quarter, the volume of private consumption went down by 2.2 per cent from the previous quarter and by 0.9 per cent from twelve months back. Investments diminished by 0.7 per cent from the previous quarter and by 0.4 per cent year-on-year.

Volume refers to data adjusted for price changes. Volumes at reference year 2000 prices are expressed relative to the 2000 level at current prices (in EUR). Change percentages from the quarter of the previous year have been calculated from time series adjusted for working days, and change percentages from the previous quarter from seasonally adjusted time series.

Source: National Accounts 2012, 2nd quarter. Statistics Finland

Inquiries: Pasi Koikkalainen 09 1734 3332, Samu Hakala 09 1734 3756, kansantalous.suhdanteet@stat.fi

Director in charge: Ari Tyrkkö

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Reviews

• 1. Decrease in exports and slowdown of motor vehicle trade turned GDP to decline (5.9.2012)

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Updated 5.9.2012