16 February, 1998

Inquiries: Mr Kari Rautio + 358 9 1734 2479
Statistical Director in charge: Mr Ilkka Hyppönen

Industrial output grew by as much as 8.2 per cent last year

Industrial output continued to grow strongly throughout last year. According to Statistics Finland preliminary data, industrial output grew by 8.2 per cent last year. The year-on-year increase was the second largest in the 1990. The only increase in industrial output bigger than this was the 11.5 per cent growth recorded in 1994.

Growth rate of industrial output was faster than average in the metal industry and in the wood and paper industry. Output in the metal industry grew by good 11 per cent last year. Of the main sectors of the metal industry, the biggest output increases were recorded in the manufacture of electrical equipment, just under 19 per cent, and in the manufacture of metal products, nearly 12 per cent. In the wood and paper industry, output increased by nearly 15 per cent last year.

Output in the construction-related industries grew rapidly last year. Compared with the previous year, output in the pottery, glass and stone processing industry was up by good 14 per cent and nearly 14 per cent more sawn timber and wood products were produced. Over 12 per cent more furniture was produced. Output in the chemical industry grew by good 2 per cent and in other manufacturing industries by 4 per cent.

Output grew by 9.1 per cent in December

In December, output in manufacturing as calculated per working day was up by 9.1 per cent on last year's December. Output in the metal industry grew by nearly 12 per cent and in the wood and paper industry by approximately 15 per cent. Output in the chemical industry increased by nearly 4 per cent and in other manufacturing industries by nearly 6 per cent.

87 per cent of the manufacturing capacity was in use in December. Capacity utilisation rate in the metal industry and in the wood and paper industry was 91 per cent, in the chemical industry 77 per cent and in other manufacturing industries 79 per cent.

In November, the revised growth rate in industrial output was 9.6 per cent, which is 0.1 percentage points below previously published figures.

Source: Volume Index of Industrial Output, December 1997. Statistics Finland