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Published: 14 January 2021

Turnover and sales volume in trade increased in November

According to Statistics Finland, turnover in total trade adjusted for working days increased by 0.8 per cent in November from November 2019. Turnover grew in November in all main industries of trade apart from wholesale trade. In total trade, the working day adjusted volume of sales, from which the impact of prices has been eliminated, rose by 2.4 per cent in November. In last year's October, turnover fell by 0.7 per cent, while sales volume rose by 0.9 per cent.

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

Working day adjusted turnover in retail trade has developed positively since May of last year due to strong growth in daily consumer goods and department store trade. The positive growth continued also in November as turnover rose by 7.1 per cent and sales volume by 7.9 per cent from the previous year's November. The growth in daily consumer goods trade has been quite rapid since March 2020. The working day adjusted turnover in daily consumer goods trade continued to grow strongly, by 9.2 per cent in November compared to November 2019. Working day adjusted turnover in department store trade was 7.4 per cent up year-on-year in November. In specialised store trade, the development of working day adjusted turnover has slowed down slightly in recent months after the recovery in summer. In November, the growth in turnover of the industry in question picked up again to over three per cent and sales volume, in turn, grew by nearly five per cent compared to the previous year.

The working day adjusted turnover of the biggest trade industry in terms of turnover, that is, wholesale trade, has decreased throughout 2020 and in November it decreased further by close on three per cent. By contrast, sales volume in wholesale trade remained almost on level with November 2019. Turnover adjusted for working days in motor vehicle trade rose in November, as turnover grew by 1.7 per cent from one year ago and sales volume adjusted for working days by 0.5 per cent from the previous year's November.

Annual change in working day adjusted turnover and sales volume in industries of trade, November 2020, % (TOL 2008)

Turnover and sales volume grew month-on-month

The development of seasonally adjusted turnover in total trade compared with the previous month has been positive since the plunge in April 2020 up to September 2020. In October, in turn, turnover and sales volume decreased, as turnover contracted by 0.6 per cent and sales volume by 1.0 per cent from September. In November, seasonally adjusted turnover in total trade made a slight upturn again, when turnover increased by 0.5 per cent compared to October. Over the same time period, sales volume went up by 0.8 per cent.

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) (14.1.2021)

Revisions in these statistics

• Revisions in these statistics (14.1.2021)

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Updated 14.01.2021