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How will Finland's economy perform in 2022?

Still, a tight labor market and elevated household savings will buffer growth from some of the downside shocks. FocusEconomics panelists project GDP to grow 1.8% in 2022, which is down 0.2 percentage points from last month’s forecast, and 1.5% in 2023. 5 years of Finland economic forecasts for more than 30 economic indicators.

What is the economy of Finland?

The economy of Finland is a highly industrialised, mixed economy with a per capita output similar to that of other western European economies such as France, Germany and United Kingdom. The largest sector of Finland 's economy is services at 72.7 percent, followed by manufacturing and refining at 31.4 percent. Primary production is 2.9 percent.

What happened to Finland's economy in 1991?

Like other Nordic countries, Finland has liberalized its system of economic regulation since late 1980s. Financial and product market regulations were modified. Some state enterprises were privatized and some tax rates were altered. In 1991, the Finnish economy fell into a severe recession.

What is Finland's inflation rate?

This is, however, below the average of the EU as a whole, also due to Finland’s lower dependency on gas. Having peaked in 2022-Q3, HICP inflation is forecast to average 7.2% in 2022. Weaker economic activity and lower energy prices are projected to bring the inflation rate down to 4.3% in 2023 and close to 2% in 2024.

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