Browsing by Subject "exports"

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  • Bank of Finland (2018)
    Bank of Finland. Bulletin 3/2018
    Finland is a small open economy, and uncertainties in the global economy are also strongly reflected in Finland. The calculations presented here illustrate uncertainties relating to export and GDP forecasts by means of fan charts that demonstrate the uncertainties associated with the external environment. The fan charts incorporate both uncertainties in forecasting external factors and a view of asymmetric risk factors.
  • Bank of Finland (2020)
    Bank of Finland. Bulletin 5/2019
    Uncertainty in the global economy poses a substantial risk to the Finnish growth outlook. In 2019, growth in the main export markets has been slower than previously expected, and uncertainty factors may cause further slower-than-expected developments. If materialised, the risks would particularly affect the exports of a small open economy such as Finland. This alternative scenario analyses the transmission of a temporary dip in Finnish export demand to different segments of the economy. The alternative scenario has been prepared using the Bank of Finland’s dynamic general equilibrium model Aino.
  • Bank of Finland (2017)
    Bank of Finland. Bulletin 5/2017
    Finland's recent brisk economic growth is largely a consequence of the upswing in the global economy. The external environment has always played a decisive role in shaping Finland’s GDP and, in particular, export growth. Changes in the external environment are, however, always surrounded by a high degree of uncertainty.
  • Bank of Finland (2019)
    Bank of Finland. Bulletin 5/2018
    Finnish growth will continue, but at a slower pace than in recent years. There is no returning to the growth rate that preceded the financial crisis.
  • Herrala, Risto (2018)
    Bank of Finland Bulletin. Blog
    While the Caucasian and Central Asian (CCA) regions host ethnically and culturally diverse populations, and are difficult to traverse due to the challenging geography, the countries have a long history of political and economic integration. Much of the region was ruled by Timur in the 14th to 16th centuries and, after being separated by Persian invasion in Caucasus and Chinese invasion in Central Asia, the Russian invasion in the 1700’s brought the two again under a shared rule. Subsequently, the CCA became part of the Soviet Union, and the national borders of today were to a large extent drawn during that era as the borders of the Soviet national republics.
  • Orjasniemi, Seppo; Viertola, Hannu (2015)
    Bank of Finland. Bulletin 3/2015
    The decline in exports has been the most important factor behind the contraction in GDP since 2008. The impact of this decline is also felt in sectors that traditionally focus on the domestic market, as the production of intermediate inputs for exports ties up a considerable amount of resources. Exports have had a significant indirect impact on employment. The overall drop in employment has, however, remained moderate, as employment has been sustained by domestic demand.
  • Bank of Finland (2017)
    Bank of Finland. Bulletin 5/2017
    The Finnish economy entered a phase of cyclical recovery in mid-2015. After several years of contraction and zero growth, Finnish GDP grew by 1.9% in 2016. Growth has continued to accelerate during the course of 2017. The current cyclical upturn has been supported by growth in exports and investment. Finland’s economy has also benefited from the broader recoveries seen in both the euro area and the global economy.
  • Bank of Finland (2017)
    Bank of Finland. Bulletin 3/2017
    Finnish exports have lost market share in world trade continually since the financial crisis. This partly reflects a general trend in the advanced economies. The export shares of advanced economies have contracted as emerging economies have gained a stronger foothold in the global economy. The dwindling demand for Finnish exports may also be related to the current low level of investment in the advanced economies, especially in Europe.
  • Bank of Finland (2015)
    Bank of Finland. Bulletin 3/2015
    According to the most recent quarterly national accounts, real GDP in the first quarter of 2015 contracted by 0.1% quarter on quarter but remained unchanged year on year. The quarterly national accounts data signal a broadly similar economic development to the indicator data previously published, i.e. the economy was continuing to contract.
  • Bank of Finland (2016)
    Bank of Finland. Bulletin 3/2016
    According to the most recent quarterly national accounts, real GDP in the first quarter of 2016 grew by 0.6% quarter on quarter and 1.6% year on year. The latest quarterly national accounts data signal similar economic developments for early 2016 than the data previously published, i.e. economic growth continued, supported by private investments and private consumption. Real GDP growth in the first quarter was slightly stronger than suggested by preliminary data. The figures for the fourth quarter of 2015 were also revised upward. The economy has now grown for two consecutive quarters.
  • Bank of Finland (2017)
    Bank of Finland. Bulletin 3/2017
    According to the most recent quarterly national accounts, Finland’s GDP in the first quarter of 2017 grew 1.2% quarter on quarter and 2.7% year on year. The data signal similar economic developments for early 2017 as previously estimated, i.e. economic growth is becoming more broadly based. Net exports, in particular, increased, fuelled by a tangible increase in exports. However, GDP growth in the first quarter of 2017 was slightly weaker than suggested by the flash estimate published in May, while GDP figures for the fourth quarter of 2016 were revised upwards. Nevertheless, the Finnish economy has now grown for three consecutive quarters.
  • Bank of Finland (2015)
    Bank of Finland. Bulletin 5/2015
    On 4 December 2015, Statistics Finland published advance quarterly national accounts data containing the latest statistical data on Finnish economic developments in the third quarter of 2015.
  • Bank of Finland (2017)
    Bank of Finland. Bulletin 5/2016
    On 2 December 2016, Statistics Finland published preliminary quarterly national accounts containing the latest statistical data on Finnish economic developments in the third quarter of 2016.
  • Bank of Finland (2017)
    Bank of Finland. Bulletin 5/2017
    During the third quarter of 2017, Finland’s GDP increased by 3%, private consumption by 2.1% and public consumption by 1.8% year on year. Investments increased by 9.3% year on year.
  • Bank of Finland (2022)
    Bank of Finland Bulletin. Analysis
    Russia’s invasion of Ukraine has cast a new veil of gloom over the outlook for Finland’s economy. There is considerable uncertainty over the economic impact of the Russia-Ukraine war, because the extent and duration of the war are not yet known, and neither do we know what economic policy measures will be taken to alleviate the economic effects. Amid this high uncertainty it is nevertheless possible to get an idea of the outlook for the economy by examining different scenarios. In the two scenarios presented here, the war in Ukraine will slow Finland’s GDP growth and increase inflation. In the current year, growth will slow to between 0.5% and 2%. The economic impact will be prolonged if it takes time to find replacements for the lost Russian market.
  • Bank of Finland (2016)
    Bank of Finland. Bulletin 1/2016
    In the EU countries, the car industry is of greatest significance to GDP and employment in Germany and some countries in East-Central Europe. In these countries a shock to the car industry could have a heavy impact on the national economy. The industry accounts for some 10% of the EU’s goods exports.
  • Bank of Finland (2019)
    Bank of Finland. Bulletin 5/2018
    The Finnish economy started to grow at the end of 2015. This was preceded by an exceptionally long and deep recession, during which the economy contracted for several consecutive years and jobs were lost. Economic growth has continued for three years and the Finnish economy is currently booming. However, growth has passed its cyclical peak. The Bank of Finland's Aino forecasting model demonstrates that both external and domestic factors have influenced the cyclical upswing and, in particular, export growth of recent years.
  • Lindblad, Annika; Sinivuori, Taina (2021)
    Bank of Finland. Bulletin 5/2021
    The supply-chain disruptions constraining world economic growth and the rise in raw material and shipping costs are inevitably affecting the Finnish economy. Finnish industrial output has recovered to pre-pandemic levels, even though manufacturers report supply bottlenecks, including materials shortages and logistics disruptions, widely limiting production in Finland. Supply bottlenecks are especially casting a shadow over Finnish industrial output and export growth.
  • Kerola, Eeva (2020)
    Bank of Finland Bulletin. Blog
    China was at the forefront of the COVID-19 crisis. As a consequence, the value of Chinese exports plummeted by 13% year-on-year at the first quarter of 2020 (-40% y-o-y in February alone). However, it was not until March when other countries started to impose more or less severe restrictions on economic activity and movement of people. The year-on-year drop in exports was historically bad both for the United States and the euro area in April and May, while Japanese export growth was at its lowest in June.
  • Bank of Finland (2015)
    Bank of Finland. Bulletin 5/2015
    Finnish exports declined 0.8% in 2014, lagging further behind the export markets and world trade growth, and they are set to barely grow at all in 2015. The scale of the problem is illustrated by the fact that the volume of exports is still approximately EUR 10 billion lower than in 2007. If exports had continued to grow on their long-term trend after 2007, the loss now would be that much greater. If the negative indirect impact of poor export performance on e.g. investment were taken into account, the final bill would increase further still.