Published: 14 February 2020

Turnover in manufacturing grew by 6.7 per cent in December

According to Statistics Finland, working day adjusted turnover in manufacturing (TOL BCD) increased in December by 6.7 per cent year-on-year. Of the main industries, turnover grew most in the electronic and electrical industry, by 45.4 per cent, and in the metal industry, by 22.2 per cent. Seasonally adjusted turnover in manufacturing (TOL BCD) grew by 4.0 per cent compared with November.

Annual change in working day adjusted turnover in manufacturing (BCD), % (TOL 2008)

Annual change in working day adjusted turnover in manufacturing (BCD), % (TOL 2008)

In December, turnover decreased most in mining and quarrying, by 13.8 per cent, and in the forest industry, by 12.1 per cent from one year before. Turnover in electricity, gas, steam and air conditioning supply also decreased by 8.7 per cent from one year back.

Annual change in working day adjusted turnover in manufacturing by industry, December 2019, % (TOL 2008)

Annual change in working day adjusted turnover in manufacturing by industry, December 2019, % (TOL 2008)

Export turnover grew in November in nearly all main industries

Export turnover adjusted for working days grew in November most in the electronic and electrical industry, by 32.9 per cent year-on-year. Export turnover in the food industry grew by 11.8 per cent and in mining and quarrying by nearly as much, 11.0 per cent from one year before. Export turnover also increased in the metal industry, by 7.1 per cent and in the chemical industry, by 4.6 per cent. Export turnover decreased in November in two main industries. The export turnover of the forest industry, which has decreased for several months, declined most in November, by 11.8 per cent from the year before. Export turnover in the textiles, wearing apparel and leather industry was 8.3 per cent lower than one year ago.

Annual change in working day adjusted export turnover and domestic turnover in manufacturing by industry, November 2019, % (TOL 2008)

Annual change in working day adjusted export turnover and domestic turnover in manufacturing by industry, November 2019, % (TOL 2008)
Domestic turnover decreased in November for most of the main industries. Domestic turnover declined most in the chemical industry, by 14.7 per cent, and in the electronic and electrical industry, by 10.7 per cent from the year before. Domestic turnover in the forest industry decreased by 6.4 per cent. Domestic turnover was growing in mining and quarrying, by 3.8 per cent, and in the food industry, by 2.8 per cent year-on-year.

Trend series of turnover, export turnover and domestic turnover in manufacturing (BC), January 2007 to November-December 2019, % (TOL 2008)

Trend series of turnover, export turnover and domestic turnover in manufacturing (BC), January 2007 to November-December 2019, % (TOL 2008)

The index of turnover in industry describes enterprises whose main industry is manufacturing. The calculation of the indices is based on the Tax Administration’s self-assessed tax data which are supplemented with data obtained with Statistics Finland’s sales inquiry. The monthly turnovers of manufacturing enterprises can vary considerably, especially in the metal industries. The variation is mainly due to invoicing practices. The final invoice for major machinery deliveries and projects may be recorded in the sales of one month, even if the delivery had required the work of several months or years.

The factors caused by the variation in the number of weekdays are taken into account in adjustment for working days. This means taking into consideration the lengths of months, different weekdays and holidays. In addition, seasonal variation is eliminated from seasonally adjusted series, on account of which it makes sense to compare observations of two successive months as well.

In terms of turnover, data for the latest month are preliminary and are released at a delay of around six weeks. The data may become significantly revised particularly on more detailed industry levels in coming months. Export turnover and domestic turnover are, for the time being, still released at a delay of two and a half months.

Industries of enterprises have been revised in the data released in February

Starting from this statistical release the latest industries defined by the Business Register have been taken into use in the turnover and wage and salary indices. The industry corrections are visible as revised data in some of the published industries for the years 2018–2019. The effects of the changes are taken into consideration in statistics production so that no breaks occur in the time series of the published index series. The interpretation of the statistics also remains unchanged in the renewal. Revisions to annual changes in industries are presented under Revisions in these statistics.


Source: Index of turnover in industry 2019, December, Statistics Finland

Inquiries: Maija Sappinen 029 551 3348, Heli Suonio 029 551 2481, myynti.teollisuus@stat.fi

Director in charge: Mari Ylä-Jarkko

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Tables

Tables in databases

Appendix tables

Figures
Revisions in these statistics

Updated 14.2.2020

Referencing instructions:

Official Statistics of Finland (OSF): Index of turnover in industry [e-publication].
ISSN=1798-596X. December 2019. Helsinki: Statistics Finland [referred: 20.2.2020].
Access method: http://www.stat.fi/til/tlv/2019/12/tlv_2019_12_2020-02-14_tie_001_en.html