Finland economy at a glance

Latest figures for Finland: inflation, growth, interest rates, jobs, bond yields, debt and taxes. Updated 6 November 2026. Open Finland on the interactive map →

Key figures

Indicator	Latest	Period	Previous
Inflation (consumer prices, year on year)	3.4%	October 2026	2.7% September 2026
Core inflation (excluding food and energy)	1.5%	October 2026	1.4% September 2026
Real GDP growth (year on year)	2.1%	Q3 2026	1.5% Q2 2026
Policy rate (European Central Bank)	2.50%	November 2026	2.50% October 2026
Unemployment rate	11.0%	September 2026	9.9% August 2026
10-year government bond yield	3.80%	September 2026	3.52% August 2026
Retail sales (year on year)	4.3%	September 2026	4.1% August 2026
Industrial production (year on year)	0.9%	August 2026	4.6% July 2026
Wages (year on year)	3.3%	Q2 2026	3.7% Q1 2026
House prices (year on year)	−2.7%	Q2 2026	−2.0% Q1 2026
Stock market (OMX Helsinki 25 (OMXH25))	6,254	November 2026	+15.2% over 12 months

Questions and answers

What is the inflation rate in Finland?

Finland's annual inflation rate was 3.4% in October 2026, up from 2.7% in September 2026.

What is the interest rate in Finland?

The European Central Bank deposit facility rate is 2.50% (as of November 2026). The next rate decision is due on 17 December 2026.

How fast is Finland's economy growing?

Finland's real GDP grew 2.1% year on year in Q3 2026. The IMF's October 2026 World Economic Outlook forecasts growth of 1.7% in 2026 and 1.4% in 2027.

What is the unemployment rate in Finland?

Finland's unemployment rate was 11.0% in September 2026, up from 9.9% in August 2026.

What is Finland's 10-year government bond yield?

Finland's 10-year government bond yield averaged 3.80% in September 2026.

How much government debt does Finland have?

Finland's government debt is about 88.4% of GDP (latest annual figure), with a budget deficit of 3.8% of GDP.

What is Finland's credit rating?

Finland's sovereign credit ratings: S&P AA+, Moody's Aa1, Fitch AA.

What is the VAT rate in Finland?

Finland's standard VAT rate is 25.5% (2026 rules).

What is the corporate tax rate in Finland?

Finland's corporate income tax rate is 20.0% (2026 rules).

Who leads Finland?

Finland is led by Petteri Orpo (National Coalition Party), Prime Minister; head of state President Alexander Stubb. Next election: Parliamentary election in April 2027.

Outlook

The Bank of Finland (15 Sep) raised its forecasts to 1.7% GDP growth in 2026 and 1.6% in 2027. Danske Bank sees 1.8% and 1.4%, and the IMF 1.7% and 1.4%. Inflation is expected to ease from about 2.4% to 1.4–2% next year. Upside risks are rebounding industrial orders (up 18% y/y in August), the 2027 corporate tax cut and stronger investment. Downside risks are a prolonged Gulf energy shock, unemployment stuck above 10% (Bank of Finland: 10.4% in 2026), the EU excessive deficit procedure, which forces continued austerity, and higher ECB rates that weigh on indebted households.

Why Finland matters for the world economy

Finland's direct weight in world demand is small, but it matters through specific supply chains: pulp, paper and timber for European and Chinese packaging and tissue makers; Nokia's mobile-network equipment; Kone lifts; Wärtsilä marine engines; and stainless steel. As a NATO member with a 1,340km border with Russia, it sits on the front line of European security, and its defence build-up and closed eastern border shape regional risk. Helsinki-based Nordea links Finnish conditions to credit across the Nordics. Sweden, the US, Germany, the Netherlands and China are the most exposed trade partners, and US tariff policy and Chinese demand feed straight back into Finnish industry.

Politics

Orpo's centre-right coalition (National Coalition, Finns Party, Swedish People's Party, Christian Democrats) agreed its last budget before the April 2027 election on 2 September. The 2027 plan has a €12.4bn state deficit, more money for defence, and a cut in corporate tax from 20% to 18%. Finland has been under the EU excessive deficit procedure since 20 January 2026. The finance ministry puts the 2026 general-government deficit at about 4.2% of GDP and debt near 90%, and says the next government will need about €10bn of further consolidation. Coalition friction is rising: on 16 October the Finns Party criticised the government's €60m fuel-price relief package as too small. Unemployment above 10% is the main domestic political issue.

System: Unitary parliamentary republic.

Economy and taxes

GDP: US$317 billion
Population: 5.6 million
Government debt: 88.4% of GDP
Budget balance: −3.8% of GDP
Current account: 1.0% of GDP
Exports: 42.3% of GDP
Main exports: Paper, pulp and wood products; machinery and electrical/telecom equipment; stainless steel and other basic metals; refined petroleum products; chemicals; vehicles and ships
Top export markets: Sweden (11.3%), United States (10.4%), Germany (9.8%), Netherlands (7.5%), China (4.3%)
IMF growth forecast: 1.7% in 2026, 1.4% in 2027
IMF inflation forecast: 2.4% in 2026, 1.6% in 2027
Currency: EUR
Freelancer tax: A self-employed person earning the average wage (EUR 48,840 a year) pays about 37.5% of it in income tax and social contributions (2026 rules)
Top income tax rate: 45.1%
Gold reserves: 43.9 tonnes (July 2026)
Energy self-sufficiency: 54% (2024)

Recent news

4 November 2026 Orpo government survives a no-confidence vote over the cost of living Yle
Parliament backed Prime Minister Petteri Orpo's government by 95 votes to 77 in a confidence vote called by all five main opposition parties, which said it has done too little about rising fuel and energy costs. It was the 44th such motion against the government or its ministers since 2023.
4 November 2026 Finnish inflation jumps to 3.4% in October Eurostat
Eurostat's flash estimate put Finland's annual inflation, on the harmonised EU measure, at 3.4% in October, up from 2.7% in September, as inflation across the euro area climbed to 4.0%.
30 October 2026 Finland's economy grows 0.5% in the third quarter Trading Economics
Statistics Finland's flash estimate showed GDP up 0.5% on the quarter and 1.8% on the year, the strongest annual pace since late 2024 and a fourth straight quarter of growth after the economy stalled in 2025.
30 October 2026 Finnish unemployment hits 11.0%, the highest in the EU Yle
Eurostat figures put Finland's September unemployment rate at 11.0%, up 1.3 points on a year earlier and nearly double the EU average of 6.2%. Spain was second at 10.3%.
27 October 2026 Stubb and Norway's Støre phone Putin ahead of Ukraine peace talks Yle
Finland's president and Norway's prime minister called Vladimir Putin from Helsinki to pass a direct message about talks in Abu Dhabi, where Ukrainian, Russian and US negotiators meet in early November. They spoke for their own countries, both of which border Russia, not for Europe.
26 October 2026 Finance ministry lists 400 options to repair public finances, including ending child benefit Yle
Ahead of the April 2027 election, officials set out spending cuts and tax rises for the next government, such as abolishing child benefit (about €1.2bn) and freezing pension indexation. The cross-party debt brake calls for €8–11bn of adjustment over the next parliamentary term.

Headlines and summaries are compiled daily from the linked reports with AI assistance.