Turnover in manufacturing grew by 4.5 per cent in June

According to Statistics Finland, working day adjusted turnover in manufacturing (TOL BCD) increased in June by 4.5 per cent from the previous year. Among the main manufacturing industries, the growth in working day adjusted turnover was strongest in the electrical and electronics industry, 33.3 per cent. Seasonally adjusted turnover in manufacturing (TOL BCD) also grew slightly, the growth was 0.4 per cent compared to May.

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

Among the main industries, turnover growth was slowest in June in electricity, gas, steam and air conditioning supply, 1.7 per cent, and in the textile, clothing and leather industry, 2.0 per cent. In contrast, turnover decreased in the industry of mining and quarrying, by 14.8 per cent, and in the forest industry, by 5.7 per cent, compared with the corresponding period of the year before.

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

Export turnover started to decline in May in several main industries

In May, export turnover grew most in the chemical industry, by 23.8 per cent, and in the food industry, by 12.8 per cent. Compared to the year before, less export turnover was accumulated in several main industries. Export turnover in the industry of mining and quarrying decreased most strongly, by as much as 43.9 per cent. In the electrical and electronics industry, export turnover decreased by 11.1 per cent and in the textile, clothing and leather industry by 4.3 per cent from the previous year.

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

In May, domestic turnover grew most in the forest industry, by 8.1 per cent, and in the electrical and electronics industry, by 5.1 per cent. By contrast, domestic turnover decreased from the previous year in the industry of mining and quarrying, by 13.7 per cent, and in the textile, clothing and leather industry, by 0.2 per cent.

Trend series of turnover, export turnover and domestic turnover in manufacturing (BC), 01/2007 to 06/2019, %, (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, June, 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) (15.8.2019)

Figures

Appendix figure 1. Change from the previous month in seasonally adjusted turnover in manufacturing (BCD), %, (TOL 2008) (15.8.2019)

Revisions in these statistics

Revisions in these statistics (15.8.2019)

Updated 15.8.2019

Referencing instructions:

Official Statistics of Finland (OSF): Index of turnover in industry [e-publication].
ISSN=1798-596X. June 2019. Helsinki: Statistics Finland [referred: 16.11.2024].
Access method: http://www.stat.fi/til/tlv/2019/06/tlv_2019_06_2019-08-15_tie_001_en.html