Turnover in industry increased by 27.6 per cent in January

According to Statistics Finland, working day adjusted turnover in industry (TOL BCD) increased in January by 27.6 per cent year-on-year. Growth occurred in almost all main industries. Turnover in the chemical industry increased most among the main industries, by 65.1 per cent year-on-year. The growth was partly due to higher prices of products in the industry. Seasonally adjusted turnover in industry (TOL BCD) decreased by 0.8 per cent in January compared with December.

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

Working day adjusted turnover grew in January by 38.8 per cent in electricity, gas, steam and air conditioning supply from one year back. In the metal industry, the growth amounted to 19.9 per cent and in the forest industry to 15.2 per cent. Turnover in mining and quarrying was 12.9 per cent higher and in the food industry 5.5 per cent higher than one year earlier. Turnover in the textile, clothing and leather industry grew by 2.4 per cent. Turnover decreased only in the electronic and electrical industry and was 1.9 per cent lower than one year earlier.

Annual change in working day adjusted turnover in manufacturing by industry, January 2022, % (TOL 2008)

Export turnover and domestic turnover growing in January in nearly all main industries

In January, growth in export turnover was strongest in the chemical industry, up by 83.0 per cent from the year before. Export turnover grew in the metal industry by 24.2 per cent and in the textile, clothing and leather industry by 19.6 per cent. Mining and quarrying went up by 17.2 per cent. Compared to one year ago, export turnover was 16.9 per cent higher in the forest industry and 14.7 per cent higher in the food industry. Export turnover decreased in the electrical and electronics industry by 2.5 per cent.

Annual change in working day adjusted export turnover and domestic turnover in manufacturing by industry, January 2022, % (TOL 2008)

Domestic turnover grew most in the chemical industry, by 31.9 per cent from one year earlier. The metal industry increased by 22.6 per cent. Domestic turnover grew by 12.9 per cent in the electrical and electronics industry and by 12.1 per cent in the forest industry. Domestic turnover in mining and quarrying was 10.9 per cent higher than one year earlier. The food industry went up by 4.9 per cent. Domestic turnover fell only in the textile, clothing and leather industry, by 6.7 per cent year-on-year.

Trend series of turnover, export turnover and domestic turnover in manufacturing (BC), 1/2007 to 1/2022, % (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.

The 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. Revisions to the data may be particularly significant on the more accurate industry levels of export turnover and domestic turnover.

Source: Index of turnover in industry 2022, January, Statistics Finland

Inquiries: Jussi Haavisto 029 551 3341, Heli Suonio 029 551 2481, myynti.teollisuus@stat.fi

Head of Department in charge: Katri Kaaja

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Appendix tables

Appendix table 1. Annual change of working-day adjusted turnover in industries of manufacturing, % (TOL 2008) (15.3.2022)

Figures

Appendix figure 1. Change from the previous month in seasonally adjusted turnover in manufacturing (BCD), % (TOL 2008) (15.3.2022)

Revisions in these statistics

Revisions in these statistics (15.3.2022)

Updated 15.3.2022

Referencing instructions:

Official Statistics of Finland (OSF): Index of turnover in industry [e-publication].
ISSN=1798-596X. January 2022. Helsinki: Statistics Finland [referred: 20.4.2024].
Access method: http://www.stat.fi/til/tlv/2022/01/tlv_2022_01_2022-03-15_tie_001_en.html