Home > Statistics > Index of turnover in industry > 2009 > May > Turnover in manufacturing contracted by 29 per cent in March to May from the year before

Published: 14 August 2009

Turnover in manufacturing contracted by 29 per cent in March to May from the year before

According to Statistics Finland, turnover in manufacturing in the March to May period was 29.4 per cent lower than in the corresponding period of the year before. Domestic sales contracted by 25.7 per cent and export turnover by 32.2 per cent from one year ago.

In the March to May period turnover grew only in electricity, gas, steam and air conditioning supply (6.3 per cent). In most manufacturing industries turnover contracted in March to May by over 20 per cent when compared with the respective period in the year before. The fall was fastest in the chemical industry (-34.5 per cent) and in the metal industry (-33.6 per cent).

Annual change in turnover in selected manufacturing industries during 03/2009-05/2009, % (TOL 2008)

The index of turnover in industry describes enterprises whose main industry is manufacturing. The calculation of the indices is based on the Tax Administration's value added tax data which are supplemented with data obtained with Statistics Finland's sales inquiry. The monthly turnovers of manufacturing enterprises can vary considerably, especially in the metal industries. The variation is mainly due to invoicing practices. The final invoice for major machinery deliveries and projects may be recorded in the sales of one month, even if the delivery had required the work of several months or years.

The standard industrial classification TOL 2008 and base year 2005=100 were introduced in these statistics starting from data concerning January 2009. Further information about the TOL 2008 classification is available in the TOL 2008 section on Statistics Finland's website. Further information about the transition of the index of turnover in industry to Standard Industrial Classification TOL 2008 is available under Revisions in these statistics.

Source: Index of turnover in industry, May 2009. Statistics Finland

Inquiries: Ms Kirsi Ristola +358 9 1734 2430, Ms Soile Väisänen +358 9 1734 2232, volyymi.indeksi@stat.fi

Director in charge: Ms Hannele Orjala

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Last updated 14.8.2009