Sat, 12 Jul, 2014 12:14:16 AM FTimes Report, July 12  Annual change in the volume of gross domestic product, per cent, in accordance with the old ESA95 national accounts (left column) and the new ESA2010 national accounts (right column). Source: Statistics Finland. The volume of Finland’s GDP contracted by 1.2 per cent in 2013, according to Statistics Finland’s revised preliminary data.
The decrease was 1.4 per cent as per the initial preliminary data released in March.
The GDP became revised as new data on intermediate consumption in manufacturing and other industries became available.
In 2012, the volume of GDP contracted by 1.5 per cent whereas previous estimates put the decline at one per cent.
The revision was partly the result of decreased research and development expenditure.
Production contracted for the second year in a row last year and was at the 2006 level.
The volume of value added decreased in nearly all main industries, for example, in manufacturing, construction, trade, transport, administrative and support service activities, financial and insurance activities, and administrative and support service activities.
The volume of consumption expenditure remained unchanged. The volume of investments decreased 4.9 per cent. The volume of exports shrunk 1.7 per cent and imports 2.5 per cent.
The volume of goods exported and imported increased slightly, but the imports and exports of services decreased clearly, according to the statistics.
The economy of general government showed a deficit of EUR 4.7 billion last year.
The deficit of central government was EUR 7 billion and that of municipalities and joint municipal boards amounted to EUR 1.6 billion. By contrast, the economy of employment pension schemes showed a surplus of EUR 3.8 billion, according to the data.
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