Bloomberg News

Finnish Fourth-Quarter Growth Slows as Exports Decline

March 02, 2012

Finland’s economic growth slowed to 0.1 percent in the fourth quarter as Europe’s debt crisis hurt exports.

Gross domestic product grew 1.4 percent on an annual basis, Helsinki-based Statistics Finland said today. Third-quarter growth was revised to 1.1 percent from 0.9 percent.

Europe’s sovereign debt crisis has sapped demand for exports from Finland, home to companies such as Nokia Oyj. (NOK1V) Shipments abroad make up about 40 percent of the northernmost euro member’s economy and a third are sold in the single- currency area, which the European Commission estimates may shrink 0.3 percent this year.

Exports fell 0.7 percent in the fourth quarter, while imports rose 3.8 percent, the statistics agency said. Private consumption grew 0.1 percent and investments rose 0.4 percent.

To contact the reporter on this story: Kasper Viita in Helsinki at kviita1@bloomberg.net

To contact the editor responsible for this story: Jonas Bergman at jbergman@bloomberg.net


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