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Published: 1 March 2011

Gross domestic product grew by 3.1 per cent last year

According to Statistics Finland’s preliminary data, the volume of Finland’s GDP grew by 3.1 per cent in 2010. Output was last year at about the same level as in 2006. Last year, GDP stood at EUR 180 billion. Net national income describing the income earned by the national economy went up by 2.3 per cent in real terms.

Annual change in the volume of gross domestic product, per cent

Demand was boosted most by exports and private consumption. The volume of exports grew by 5.1 per cent and that of imports by 2.6 per cent. Private consumption went up by 2.6 per cent and public consumption by 0.4 per cent. Investments grew by 0.8 per cent.

Non-financial corporations' operating surplus describing their profits grew by 36 per cent but was still clearly lower than in the peak year of 2007. Non-financial corporations paid 37 per cent more direct taxes but an estimated four per cent less dividends than in the previous year. Their financial position showed a surplus of EUR 9 billion. By contrast, the financial position of general government was in deficit for the second successive year, by EUR 5 billion.

Households’ real income grew by 2.9 per cent on the average. Their adjusted real income grew by 2.3 per cent. Adjusted income also takes into consideration the personal services which organisations and general government produce for households, such as educational, health and social services. Wage and salary income went up by 1.9 per cent, social security benefits by 4.1 per cent, and property and entrepreneurial income by 6.2 per cent.

Source: National Accounts. Preliminary annual data and 4th quarter of 2010 Statistics Finland

Inquiries: Olli Savela (09) 1734 3316, Aila Heinonen (09) 1734 3338, skt.95@stat.fi

Director in charge: Ari Tyrkkö

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• 1. Gross domestic product grew by 3.1 per cent in 2010 (1.3.2011)

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• Appendix table 1. Gross domestic product (GDP) at market prices 1975-2010* (1.3.2011)

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Updated 1.3.2011