Turnover in manufacturing grew by 3.0 per cent in May

According to Statistics Finland, working day adjusted turnover in manufacturing (TOL BCD) increased in May by 3.0 per cent from the corresponding period of the previous year. Among the main manufacturing industries, growth in working day adjusted turnover was strongest in the chemical industry, 14.9 per cent, and in the industry of electricity, gas, steam and air conditioning supply, 12.8 per cent. By contrast, seasonally adjusted turnover in manufacturing (TOL BCD) decreased slightly, by 0.9 per cent from April.

Annual change in working day adjusted turnover in manufacturing (BCD), %, (TOL 2008)

Among the main manufacturing industries, turnover growth was slowest in May in the food industry, 0.6 per cent. Turnover made a downturn from 2018 in several main manufacturing industries. Turnover decreased most in the industry of mining and quarrying, by 15.1 per cent, and in the electrical and electronics industry, by 9.8 per cent.

Annual change in working day adjusted turnover in manufacturing by industry, May 2019, %, (TOL 2008)

Export turnover grew more than domestic turnover in April

In April, most export turnover was generated in the electrical and electronics industry, 22.5 per cent. In the metal industry, export turnover increased by 13.1 per cent, and in the chemical industry by 12.5 per cent. Export turnover growth was slowest in the forest industry, 3.5 per cent. Only the industry of mining and quarrying fell short of last year's level, the value of export turnover in April was 1.4 per cent lower than in the year before.

Annual change in working day adjusted export turnover and domestic turnover in manufacturing by industry, April 2019, %, (TOL 2008)

In April, domestic turnover grew in almost all industries. Domestic turnover increased most in the food industry, by 13.8 per cent, in the electrical and electronics industry, by 11.1 per cent, and in the chemical industry, by 9.9 per cent. Slowest growth in domestic turnover was seen in the industry of mining and quarrying, 0.1 per cent year-on-year. In the textile, clothing and leather industry, domestic turnover declined by 1.2 per cent from the year before.

Trend series of turnover, export turnover and domestic turnover in manufacturing (BC), 01/2007 to 05/2019, %, (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 self-assessed 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 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: Index of turnover in industry 2019, May, Statistics Finland

Inquiries: Maija Sappinen 029 551 3348, Kirsi-Maaria Manninen 029 551 2681, myynti.teollisuus@stat.fi

Director in charge: Mari Yl�-Jarkko

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Appendix tables

Appendix table 1. Annual change of working-day adjusted turnover in industries of manufacturing, % (TOL 2008) (15.7.2019)

Figures

Appendix figure 1. Change from the previous month in seasonally adjusted turnover in manufacturing (BCD), %, (TOL 2008) (15.7.2019)

Revisions in these statistics

Revisions in these statistics (15.7.2019)

Updated 15.7.2019

Referencing instructions:

Official Statistics of Finland (OSF): Index of turnover in industry [e-publication].
ISSN=1798-596X. May 2019. Helsinki: Statistics Finland [referred: 16.11.2024].
Access method: http://www.stat.fi/til/tlv/2019/05/tlv_2019_05_2019-07-15_tie_001_en.html