Consumption expenditure change during COVID-19 in Finland May 2020, by category

Published by J. Clausnitzer, Jul 5, 2021
According to the card payment data of Nordea, consumer spending volume in Finland decreased by roughly 16 percent in May 2020 compared to the previous year due to the coronavirus (COVID-19) pandemic. Culture, hotels, transportation, and restaurants were among the sectors worst hit by the COVID-19 outbreak. Based on the card payment data, Finns spent almost 90 percent less on culture and hotels. While spending declined significantly in most categories, spending on online shopping and groceries increased.

The first COVID-19 case in Finland was confirmed on January 29, 2020. For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.

Change in consumer expenditure during the coronavirus pandemic in Finland in May 2020, by category (compared to 2019)

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Source

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Release date

May 2020

Region

Finland

Survey time period

May 11-17, 2020

Special properties

Card payment data

Supplementary notes

*Do it yourself (DIY) -category includes e.g. hardware stores and homeware. However, this category partly overlaps with other retail sales.

The source adds the following information: "Card payment data does not reflect the whole volume of e-commerce sales."

Nordea bank holds almost 30 percent share in the banking sector of Finland.

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