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Published: 29 May 2020

Finnish enterprises invested more than EUR one billion in Sweden in 2018

According to Statistics Finland's data, Finnish enterprises had business activity in 5,430 affiliates located in 139 countries in 2018. Compared with the previous year, the activity of Finnish enterprises abroad increased when viewed with several indicators. The number of personnel rose by eight per cent. Turnover went up by nearly ten per cent. Investments grew more moderately by five per cent. Most of the investments were concentrated in companies in the EU area, of which Sweden in particular gathered investments

Finnish enterprises' investments in foreign affiliates by country group in 2014 to 2018

Finnish affiliates abroad invested good EUR 4.3 billion into their tangible goods. As much as 72 per cent of the investments were made in Europe and 13 per cent in Asia and Oceania. The manufacturing industry was globally the most significant investment target for Finnish enterprises abroad, amounting to good EUR 2.5 billion. Investments were particularly directed at affiliates of the chemical and paper industry. In EU countries in Europe, investments in affiliates of the manufacturing industry amounted to nearly EUR 1.3 billion and in countries outside the EU to good EUR 164 million. Of individual countries, most was invested in Sweden, over EUR one billion.

Finnish affiliates abroad employed the largest number of personnel in EU countries, altogether nearly 281,390 persons. Measured by the number of employees, the most significant industries in EU countries were the machinery and metal industry with 53,090 employees and the electrical and electronics industry with close on 44,900 employees. Affiliates in Asia and Oceania were the second most significant employer of personnel with nearly 143,060 employees. In Asia and Oceania, the biggest employers among manufacturing industries were the electrical and electronics industry with good 60,720 persons and the machinery and metal industry with close on 47,130 persons. Examined globally, the biggest employers were affiliates of the electrical and electronics industry with 153,400 employees. Sweden was the most significant employer country of Finnish affiliates abroad with 68,450 employees.

The combined total turnover of Finnish affiliates located abroad amounted to close on EUR 182.5 billion. The figure describes unconsolidated turnover, in other words, it includes, for instance, intra-group trade. Over one-half of the turnover was generated in EU countries and 16 per cent in Asia and Oceania. In affiliates located in EU countries, the largest amounts of turnover were generated in wholesale and retail trade, good EUR 21.1 billion, and in the machinery and metal industry, over EUR 13.1 billion. In Asia and Oceania, the electronics and electrical industry with good EUR 10.7 billion was the most significant industry measured by turnover. Measured globally, the manufacturing industry generated most turnover abroad for Finnish enterprises, nearly EUR 110 billion, and wholesale and retail trade, good EUR 36 billion. Examined by country, most turnover was accumulated in Sweden, some EUR 39.3 billion.

Source: Finnish affiliates abroad 2018, Statistics Finland

Inquiries: Anna-Maija Laakko 029 551 3640, tytaryhtiot@stat.fi

Director in charge: Mari Ylä-Jarkko

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Appendix tables

• Appendix table 1. Finnish affiliates abroad by country group in 2018 (29.5.2020)
• Appendix table 2. Finnish affiliates in EU countries in 2018 (29.5.2020)
• Appendix table 3. Finnish affiliates in countries outside EU in 2018 (29.5.2020)
• Appendix table 4. Finnish affiliates abroad by industry in 2018 (29.5.2020)
• Appendix table 5. Finnish affiliates abroad in manufacturing industries in 2018 (29.5.2020)
• Appendix table 6. Finnish affiliates in EU countries in 2018, the largest industries 1) (29.5.2020)
• Appendix table 7. Finnish affiliates in countries outside EU in 2018, the largest industries 1) (29.5.2020)

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Updated 29.5.2020