Some excerpts from Mauri Kotamäki’s (Chief Economist/Finland Chamber of Commerce) latest July 2020 economic review:

  • The more open the economy, the more open it is also to disruptions in the economy. Finland is an open economy with about 40% of its GDP coming from exports.
  • One of the main tasks of decision-makers is to reduce the uncertainty that has been growing dramatically during the last few months.
  • This year, the total amount of exports and proof-of-origin documents given by the chambers of commerce has decreased significantly.
  • If the coronavirus crisis would impact the economy the same way as the financial crisis 2008-09, the economic growth would turn positive during the 2nd quarter of 2021. In this case, the GDP would drop only by about 6%.

The original (in Finnish):

Talouskatsaus heinäkuu 2020 (2)