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Home BUSINESSGDP down by 1.3% in 2013
Sat, 31 Jan, 2015 04:11:10 AM
FTimes Report, Jan 31
Source Statistics Finland.
Finland’s gross domestic product fell by 1.3 per cent in 2013, according to Statistics Finland’s revised preliminary data. Previously the decrease was estimated to be 1.2 per cent.
The 2012 national accounts were also revised which showed that the national GDP decreased by 1.4 per cent instead of the previously estimated 1.5 per cent as a result of balancing the supply and demand of the national economy.
In 2013, output was primarily reduced by a decrease in exports and investments. The volume of exports shrunk by 0.7 per cent and that of imports by 1.6 per cent, while the volume of investments decreased by 5.3 per cent.
Consumption expenditure also decreased slightly, by 0.2 per cent in terms of volume.
Household disposable real income diminished by 0.3 per cent in 2013.
Households' adjusted real income describing their economic well-being also contracted by 0.3 per cent.
Besides net income, it also includes welfare services, such as educational, health and social services that general government and organisations produce for households.  
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