Abstract. After the crisis of 2008–2009 the Nordic countries faced a new economic recession in 2012. It was caused by a decrease of demand on foreign markets that resulted in decrease of Nordic countries’ exports. Economic growth in 2012 and 2013 was supported by growing consumption of the households and private incomes. Investments showed weak increase (except Norway). Unemployment was still at high level, inflation was low. Public finances showed deficit (except Norway), while balances of payments were positive (except Finland). Interest rates were at very low level.