Finland’s GDP falls 0.1%y in Q1 of 2015

HELSINKI: The volume of Finland’s gross domestic product (GDP) decreased by 0.1 per cent in January to March from the previous quarter, according to Statistics Finland’s preliminary data.

Compared with the first quarter of 2014, GDP adjusted for working days remained unchanged. Revisions put the change in the volume of GDP in the fourth quarter of 2014 at -0.1 per cent from the previous quarter and at 0.0 per cent from 12 months back when it was 0.2 per cent, the statistics show.

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In the first quarter, the volume of exports declined by 1.1 per cent from the previous quarter and by 0.2 per cent year-on-year. Imports increased by 2.4 per cent from the previous quarter and by 0.6 per cent year-on-year. The volume of private consumption grew by 1.0 per cent from the previous quarter and by 1.2 per cent from twelve months back.

Gross fixed capital formation, or investments, fell by 0.3 per cent from the previous quarter and by 4.6 per cent year-on-year.