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Published: 2 March 2012

Gross domestic product grew by 2,9 per cent last year

According to Statistics Finland’s preliminary data, the volume of Finland’s GDP grew by 2.9 per cent in 2011. Last year, GDP stood at EUR 192 billion. National income describing the income of the national economy went up by 1.4 per cent in real terms.

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

Demand was boosted most by private consumption and investments. The volume of private consumption went up by 3.3 per cent and public consumption by 0.8 per cent. Investments increased by 4.6 per cent. The volume of imports grew by 0.1 per cent but that of exports fell by 0.8 per cent.

Non-financial corporations' operating surplus describing profits from their actual operations grew by 15 per cent in nominal terms but still remained clearly lower than in the peak year of 2007. Non-financial corporations paid 14 per cent more direct taxes and approximately 16 per cent more dividends than in the previous year. The financial position of non-financial corporations showed a surplus of EUR five billion, or less than in the previous year, because investments and inventories increased.

By contrast, the financial position of general government was in deficit for the third successive year, by EUR 1.5 billion. One year before the deficit was EUR five billion.

Households’ real income grew further, by 1.4 per cent on the average. Their adjusted real income increased by 1.3 per cent. Adjusted income also takes into consideration the individual services that general government and organisations produce for households, such as educational, health and social services. Wage and salary income went up in nominal terms by 1.9 per cent, social security benefits by 2.9 per cent, and property and entrepreneurial income by 7.4 per cent.

Source: National Accounts. Preliminary annual data and 4th quarter of 2011. Statistics Finland

National Accounts 2002-2011, Tables, PDF

Source: National Accounts, Statistics Finland

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

Director in charge: Ari Tyrkkö

Publication in pdf-format (291.9 kB)

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• Appendix table 1. Gross domestic product (GDP) at market prices 1975-2011* (2.3.2012)

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Updated 2.3.2012