Home > Statistics > Annual national accounts > 2005 > Gross domestic product grew by 2.1 per cent last year

Published: 1 March 2006

Gross domestic product grew by 2.1 per cent last year

According to Statistics Finland's preliminary data, the volume of Finland's GDP grew by 2.1 per cent in 2005. Gross domestic product, or the combined value added of the goods and services produced, amounted to EUR 155 billion last year.

As in the previous year, growth in demand hinged on households' consumption and private investments last year. Investments, which had turned towards growth in 2004, continued to increase. The volume of exports grew by 7 per cent and that of imports by good 10 per cent.

In 2005, the disposable income of households increased by 1.6 per cent in nominal terms and by only 0.4 per cent in real terms. The savings rate, that is, the proportion of savings relative to disposable income became negative and was -0.4 per cent, having been +2.8 per cent in the year before. Households' indebtedness rate increased further. The net lending of non-financial corporations, i.e. their financial position, showed a surplus of good EUR 5 billion, which was good EUR 1 billion lower than in the year before.

Volume changes of GDP 1996 - 2005, %

Source:
National Accounts, Preliminary data, Year 2005 and 4th quarter. Statistics Finland
General government deficit and gross debt according to EMU criteria. Statistics Finland

Inquiries:
National Accounts: Mr Tuomas Rothovius +358 9 1734 3360, Mr Olli Savela +358 9 1734 3316
General government deficit and debt: Ms Paula Koistinen-Jokiniemi +358 9 1734 3362,skt.95@stat.fi

Director in charge: Mr Ari Tyrkkö

Links: Press release related to this statistical release.

Reviews

• Gross domestic product grew by 2.1 per cent (1.3.2006)

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Appendix tables

• National balance of supply and demand 2004* - 2005* (1.3.2006)
• National income 2004* - 2005* (1.3.2006)
• Net lending 2004* - 2005* (1.3.2006)

Methodological descriptions

• Methodological description of Finland's gross national income (6/03) (1.3.2006)

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Last updated 1.3.2006