Finland’s economy grew at its fastest rate for seven years in 2017, as the wider rebound across the eurozone encouraged a sharp rise in capital investment and exports in what had, until recently, been one of the worst performers in the currency area.
Finnish gross domestic product increased by 3 per cent for the year overall, according to figures released on Wednesday, its best annual performance since 2010.
The strong performance from the one-time “ sick man of Europe” underscores the broad-based nature of the eurozone’s recent economic rebound, which has lifted growth across the continent.
The country was particularly hard hit in the wake of the financial crisis a decade ago, with the decline of national powerhouses like Nokia, traditional industries like forestry, and sanctions on neighbouring Russia all exacerbating the wider economic difficulties.
However, it has now notched up nine consecutive quarters of growth, including an expansion of 0.7 per cent in the last three months of the year. On a year on year basis, the economy grew by 2.8 per cent.
Capital investment increased by a healthy 3.2 per cent year on year, while exports expanded by 7.6 per cent.
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