Growth in households' income halted in 2011

According to Statistics Finland’s revised preliminary data, the volume of Finland’s gross domestic product grew by 2.8 per cent in 2011, while previously the growth was estimated to be 2.7 per cent. By contrast, growth in households’ real income halted in 2011. Households' adjusted real income describing their economic well-being grew by only 0.1 per cent. Besides net income, adjusted income also takes into consideration the individual services that general government and organisations produce for households, such as educational, health and social services.

Output was increased by growth in all demand items. The fastest growth of 7.1 per cent was seen in investments. The volume of exports grew by 2.9 per cent and that of imports by 6.1 per cent. The volume of private consumption expenditure grew by 2.3 per cent and that of public consumption expenditure by 0.4 per cent.

Non-financial corporations' operating surplus describing profits from their actual operations grew by nine per cent in nominal terms but still remained clearly below the peak year of 2007. Non-financial corporations paid 12 per cent more both direct taxes and dividends than in the previous year. The financial position of non-financial corporations showed a surplus of EUR 2.8 billion, or clearly 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 2.1 billion. The deficit grew slightly more than previously estimated due to new data from the local government sector. In the previous year, the deficit was EUR five billion.

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: Leena Storgårds

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Appendix tables

Appendix table 1. Gross domestic product (GDP) at market prices 1975-2011* (31.1.2013)

Revisions in these statistics

Revisions on these statistics (31.1.2013)

Updated 31.1.2013

Referencing instructions:

Official Statistics of Finland (OSF): Annual national accounts [e-publication].
ISSN=1798-0623. 2011. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/vtp/2011/vtp_2011_2013-01-31_tie_001_en.html