Forecast: Financial Service Activities Output in Finland

The financial service activities output in Finland has demonstrated a steady increase from €5.78 billion in 2013 to €9.24 billion in 2023, marking significant growth. The most remarkable gain was observed in 2021 with a year-on-year increase of 13.6%. The Compound Annual Growth Rate (CAGR) over the last five years (2018-2023) stood at 5.17%, indicating a robust upward trend. However, following the pandemic in 2020, the sector briefly fell by 1.44%, underscoring its vulnerability within a fluctuating global environment.

Future trends to watch include the forecasted growth up to €10.93 billion by 2028, reflecting a forecasted 5-year CAGR of 2.67%. The sector is expected to grow by approximately 14.09% over this period, driven by digital transformation, regulatory advancements, and the potential adoption of fintech innovations which can strengthen the financial services landscape in Finland.