The Gross Value Added (GVA) in Scientific Research and Development in Finland has shown considerable fluctuations over the past decade. From 2013 to 2017, the GVA experienced a downward trend with declines each year, reaching its lowest point in 2017. A notable rebound occurred in 2018, followed by a steady increase until 2023. As of 2023, the GVA stood at €1.8 billion. Despite mild fluctuations, the period from 2018 to 2023 exhibited a healthier growth rate with a sustained rise.
From 2018 onwards, the sector showed positive momentum, with the year-on-year growth rebounding by 8.77% in 2018, peaking in 2021 with a 4.59% rise. However, a minor dip of 0.96% was observed in 2022, which recovered with a 1.99% increase in 2023. The Compound Annual Growth Rate (CAGR) over the last five years up to 2023 was 2.83%, reflecting moderate but steady growth.
Future trends indicate a promising outlook, with forecasted steady growth reaching €1.95 billion in 2028. The projected 5-year CAGR of 1.28% suggests moderate growth, translating to a total forecasted increase of 6.57% over the next five years. This positive trend underscores potential advancements and investments in the sector, suggesting a favorable environment for innovation and development.
Future trends to watch for:
- Technological advancements driving efficiency.
- Increased private and public sector investments.
- Expansion in global collaborative research projects.
- Focus on sustainable and green technologies.
