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Published: 14 September 2021

Turnover in trade grew by 7.7 per cent in July

According to Statistics Finland, turnover in total trade adjusted for working days grew in July by 7.7 per cent from July 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 1.9 per cent. Turnover and sales volume increased in all industries of trade.

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

Strong turnover growth continued in wholesale trade in July

The positive development in the biggest industry of trade, wholesale trade, which started in February, also continued in July. The working day adjusted turnover of wholesale trade grew by 10.4 per cent and sales volume by 0.7 per cent from the year before. The more favourable development in turnover than in sales volume in wholesale trade is explained by risen prices especially of processed petroleum products.

In July, working day adjusted turnover in motor vehicle trade increased by 3.7 per cent and sales volume by 1.5 per cent from one year back.

In retail trade, working day adjusted turnover grew in July in total by 5.3 per cent and sales volume by 3.4 per cent. Among retail trade industries, department store trade grew most, as turnover went up by 5.1 per cent and sales volume by 5.0 per cent. Turnover in daily consumer goods trade rose by 4.3 per cent and sales volume by 2.2 per cent from July 2020. Turnover in specialised store trade grew by 3.4 per and sales volume by 2.0 per cent year-on-year.

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

Seasonally adjusted turnover and sales volume declined from the previous month

Seasonally adjusted turnover in total trade fell by 0.7 per cent in July from June. Seasonally adjusted sales volume went down by 1.2 per cent over the same period. In June, turnover rose by 2.3 per cent and sales volume by 1.4 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: Lauri Pullinen 029 551 3043, Mauri Niiniaho 029 551 3409, kauppa.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) (14.9.2021)

Revisions in these statistics

• Revisions in these statistics (14.9.2021)

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Updated 14.09.2021