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Published: 12 May 2021

Turnover increased in all industries of trade in March

According to Statistics Finland, turnover in total trade adjusted for working days grew by 6.8 per cent in March from March 2020. Over the same period, the working day adjusted volume of sales in total trade, from which the impact of prices has been eliminated, increased by 3.8 per cent. The positive development of turnover in trade that started in January of the current year has accelerated as the first quarter progressed. In March, growth was boosted especially by the livelier motor vehicle trade. The development of trade industries was partly affected by the exceptionally weak growth one year ago caused by the corona pandemic.

Annual change in working day adjusted turnover and sales volume in total trade (G), %

Motor vehicle trade shows strong growth in March

Turnover and sales volume grew in March in all trade industries except for sales volume in wholesale trade. Among the industries of trade, motor vehicle trade grew most. Motor vehicle trade has developed briskly throughout the early part of the year. In March turnover in motor vehicle trade rose by as much as 20.3 per cent and sales volume by 18.3 per cent from one year back.

The positive development in the turnover of the biggest trade industry, wholesale trade, which started in February, continued in March as well, up by 3.6 per cent. In turn, the sales volume in wholesale trade fell by 1.2 per cent from one year back. The more favourable development in turnover than in sales volume in wholesale trade is explained by risen prices especially of processed petroleum products.

In retail trade, working day adjusted turnover grew in March in total by 6.3 per cent and sales volume by 6.4 per cent. Among retail trade industries, department store trade grew clearly fastest, as turnover there went up by 16.9 per cent and sales volume by 17.2 per cent. In specialised store trade, turnover increased by 5.6 per cent and sales volume by 7.5 per cent from March 2020. Among retail trade industries, the development was most moderate in daily consumer goods trade, where turnover rose by 3.8 per cent and sales volume by 1.8 per cent from a year ago. The brisk growth in department store trade was particularly influenced by the weak development one year ago caused by the corona pandemic.

Annual change in working day adjusted turnover and sales volume in industries of trade, March 2021, % (TOL 2008)

Both turnover and sales volume increased compared to February

Seasonally adjusted turnover in total trade grew by 1.1 per cent in March compared to February. Seasonally adjusted sales volume grew by 0.3 per cent during the same period. In February, turnover rose by 1.5 per cent and sales volume by 0.8 per cent from the month before.

Change in seasonally adjusted turnover and sales volume in total trade (G) from the previous month, %

Trend of turnover and sales volume in total trade

The calculation of indices of turnover of trade is based on the Tax Administration’s data on self-assessed taxes, which are supplemented with Statistics Finland’s sales inquiry. The volume index of sales is calculated by removing the effect of price changes from the value index series.

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 they may become significantly revised particularly on more detailed industry levels in coming months.

Source: Turnover of trade, Statistics Finland

Inquiries: Suvi Kiema 029 551 3509, Mauri Niiniaho 029 551 3409, palvelut.suhdanne@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 and sales volume in industries of trade, % (TOL 2008) (12.5.2021)

Revisions in these statistics

• Revisions in these statistics (12.5.2021)

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Updated 12.05.2021