GDP per capita
| Updated: 1.3.2013 - Next update: 11.7.2013 |
|
Gross domestic product contracted by 0.2 per cent last year
According to Statistics Finlands preliminary data, the volume of Finlands GDP contracted by 0.2 per cent in 2012. Last year, GDP that describes the output of the national economy stood at EUR 194 billion. Net national income describing the income of the national economy went down by 2 per cent in real terms.
Last year, demand in the national economy was maintained by consumption. The volume of private consumption went up by 1.6 per cent and public consumption by 0.8 per cent. By contrast, investments decreased by 2.9 per cent. The volume of exports shrunk by 1.4 per cent and that of imports by 3.7 per cent.
Non-financial corporations' operating surplus describing profits from their actual operations contracted by 2 per cent. Non-financial corporations paid 12 per cent less direct taxes and 14 per cent less dividends than in the previous year. Their financial position showed a surplus of nearly EUR 8 billion. The surplus grew from the previous year because inventories decreased considerably.
By contrast, the financial position of general government, i.e. net lending, was in deficit for the fourth successive year, by EUR 4.5 billion. In the previous year, the deficit was EUR 2.1 billion.
Growth in households real income was almost stagnate for the second year in a row. Net disposable income grew by 0.2 per cent in real terms. Households' adjusted real income grew by 0.3 per cent. Adjusted income also takes into consideration the individual services that general government and organisations produce for households, such as educational, health and social services. Wages and salaries went up by 3.2 per cent in nominal terms and social security benefits by 5.6 per cent but property and entrepreneurial income went down by 0.3 per cent.
Statistical releaseSource:
Statistics Finland, Annual national accounts
Description of indicator
GDP, gross domestic product at market prices is the final result of the production activity of resident producer units. It can be defined in three ways: as the sum of gross value added of the various institutional sectors or the various industries plus taxes and less subsidies on products; as the sum of final uses of goods and services by resident institutional units (final consumption, gross capital formation, exports minus imports); as the sum of uses in the total economy generation of income account (compensation of employees, taxes on production and imports less subsidies, gross operating surplus and gross mixed income).
GDP per capita is often used in international comparisons as a measurement of national economy.
