GDP fell by about 8 % in 2009. According to the March 2011 Bank of Finland forecast, the pre-recession level of output will be regained during the course of 2012. The recession has caused a contraction in the GDP share of industry, and conversely an increase in the share of services sectors, which are characterised by slower productivity growth.
Over the longer term, this shift will weaken the growth potential of the economy. As regards the structure of growth in Finland, in 2010, the strengthening of export demand boosted the growth impact of net exports (Figure 22). It will remain strong, but in 2012–2013, the significance of net exports will decline as import growth picks up.