Finnish economic growth overtakes Sweden’s during the 1st Quarter

Helsinki Cathedral in the center

During the first quarter of 2017, Finnish Economy increased 2.7% compared to the same time last year and 1.2% compared to previous quarter. Finland’s economic growth rate in the first quarter of this year was considered to be the highest in the last six years and also higher than other Nordic regions; Denmark, Sweden and Norway grew 0.6%; 0.4% and 0.2% respectively compared to the last quarter.

Private consumption, exports and investments also went up from the beginning of the year. Investments went up by 4% on the previous quarter and 9% on the first quarter of last year; both the value of Finnish exports and imports rose 5% in April.

The volume of total value added generated by all industries improved by 1.7% from the previous quarter and by 3.6% from twelve months back.

The total of private consumption jumped 1.5% compared to the fourth quarter of 2016. That translated into growth of over 3% on the first quarter of last year.

Employment rate was enhanced, the percentage of employed people from aged 15 to 64 increased from 67.9% to 68.6% after a year. The number of unemployed men reduced 11% and the number of jobless women decreased 9% from the previous year.


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