Published: 15 October 2019
Turnover in manufacturing grew by 1.9 per cent in August
According to Statistics Finland, working day adjusted turnover in manufacturing (TOL BCD) increased in August by 1.9 per cent year-on-year. Among the main manufacturing industries, the growth in working day adjusted turnover was strongest in the electrical and electronics industry, 27.4 per cent. Seasonally adjusted turnover in manufacturing (TOL BCD) grew by 0.1 per cent compared with July.
Annual change in working day adjusted turnover in manufacturing (BCD), % (TOL 2008)
In addition to the electrical and electronics industry, among the main industries mining and quarrying and the metal industry also grew strongly, by 15.5 per cent and 10.6 per cent respectively. Turnover decreased most in the chemical industry, by 7.6 per cent from one year back.
Annual change in working day adjusted turnover in manufacturing by industry, August 2019, % (TOL 2008)
Export turnover growing in several main industries in July
Export turnover grew in July most in the electrical and electronics industry, by 43.3 per cent, and in the metal industry, by 19.4 per cent year-on-year. The export turnover of the food industry also grew, by 13.4 per cent. Export turnover decreased in the chemical industry, by 11.4 per cent, and in the forest industry, by 3.6 per cent, compared with the respective period of the year before.
Annual change in working day adjusted export turnover and domestic turnover in manufacturing by industry, July 2019, % (TOL 2008)
Domestic turnover grew in most main industries in July. Growth was strongest in the electrical and electronics industry, 7.7 per cent from twelve months earlier. By contrast, domestic turnover decreased from one year ago in the forest industry, by 7.2 per cent, and in mining and quarrying, by 2.6 per cent.
Trend series of turnover, export turnover and domestic turnover in manufacturing (BC), January 2007 to July-August 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.
In terms of turnover, data for the latest month are preliminary and are released at a delay of around six weeks. The data may become significantly revised particularly on more detailed industry levels in coming months. Export turnover and domestic turnover are, for the time being, still released at a delay of two and a half months.
Source: Index of turnover in industry 2019, August, Statistics Finland
Inquiries: Maija Sappinen 029 551 3348, Heli Suonio 029 551 2481, myynti.teollisuus@stat.fi
Director in charge: Mari Ylä-Jarkko
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Updated 15.10.2019
Official Statistics of Finland (OSF):
Index of turnover in industry [e-publication].
ISSN=1798-596X. August 2019. Helsinki: Statistics Finland [referred: 19.11.2024].
Access method: http://www.stat.fi/til/tlv/2019/08/tlv_2019_08_2019-10-15_tie_001_en.html