Exports were the main force behind the upgrade. Statistics Finland revised its earlier growth estimate from 0.2 percent to 0.8 percent today after stronger data from foreign trade and key industries. Growth was strongest in information and communications, mining, pharmaceuticals, oil refining, and defense manufacturing.
The improvement in external demand is beginning to filter through to the labor market. Industries that expanded exports added jobs even as total employment across the economy declined. Finland’s current account also returned to surplus in 2025, reflecting stronger trade performance.
Not every sector is participating in the recovery. Paper manufacturing continues to face structural challenges, while construction remains stuck in a prolonged downturn. Output has stabilized, but a clear return to growth has yet to emerge.
The contrast is equally visible in domestic demand. Private investment remains subdued, weighed down by weak construction activity, although data center projects have provided pockets of growth. Household consumption also remained restrained as the savings rate rose to 6.1 percent and household indebtedness continued to fall.
The latest figures point to an economy that is recovering, but one still dependent on demand from abroad rather than a broad-based domestic rebound.
