Finlandia Economy

Economic growth:

The economy recorded average annual growth of 0.8% in the decade to 2022. To read more about GDP growth in Finland, go to our dedicated page.

Fiscal policy:

Finland's fiscal deficit averaged 2.1% of GDP in the decade to 2022. Find out more on our dedicated page.

Unemployment:

The unemployment rate averaged 8.0% in the decade to 2022. For more information on Finland's unemployment click here.

Inflation:

Inflation averaged 1.8% in the decade to 2022. Go to our Finland inflation page for extra insight.

Monetary Policy:

Euro Area monetary policy rate ended 2022 at 2.50%, up from 0.75% a decade earlier. See our Finland monetary policy page for additional details.

Exchange Rate:

From end-2012 to end-2022 the euro weakened by 18.2% vs the U.S. dollar. For more info on the euro, click here.

Sequential economic growth remained uninspiring in Q2, constrained by a sharp decline in private consumption. Our panelists expect the economy to have gained momentum in Q3, although the data at hand is mixed. In August, economic activity rebounded 0.4% month on month, largely balancing out July’s contraction. Moreover, industrial output rose from Q2’s level in July–August. That said, private spending likely remained subdued, dragged on by an elevated unemployment rate and still-tight financing conditions; the latter likely also dented investment in the quarter. In addition, goods exports fell sharply in July–August, signaling mounting headwinds in the external sector. In other news, Estonia and Finland recently signed a deal to boost the surveillance and resilience of underwater energy-supply infrastructure, boding well for energy security.

Projections out to 2034.

48 indicators covered including both annual and quarterly frequencies.

Consensus Forecasts based on a panel of 20 expert analysts.

Want to get insight on the economic outlook for Finland in the coming years? FocusEconomics collects projections out to 2034 on 48 economic indicators for Finland from a panel of 20 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Finland economy. To download a sample report on the Finland's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.