Turnover in manufacturing grew by 3.9 per cent in September

According to Statistics Finland, working day adjusted turnover in manufacturing (TOL BCD) increased in September by 3.9 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, 17.7 per cent and in mining and quarrying, 13.3 per cent. Seasonally adjusted turnover in manufacturing (TOL BCD) grew by 1.9 per cent compared with August.

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

Among the main industries, the turnover in the metal industry grew by 6.2 per cent and the turnover in the chemical industry by 4.3 per cent. Turnover only decreased in the forest industry, by 6.8 per cent from one year ago.

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

Export turnover and domestic turnover grew in several main industries in August

Export turnover increased most in the industry of mining and quarrying, by 56.4 per cent, and in the electrical and electronics industry, by 30.2 per cent year-on-year. The export turnover of the textile, clothing and leather industry grew by 15.2 per cent in August. Correspondingly, export turnover decreased in the chemical industry, by 9.7 per cent and in the forest industry, by 4.1 per cent compared to the corresponding period in 2018.

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

Domestic turnover grew most in August in the metal industry, by 4.1 per cent and in the electrical and electronics industry, by 1.9 per cent. Domestic turnover declined from the year before by almost as much in the forest industry, by 3.6 per cent and the chemical industry by 3.5 per cent. Domestic turnover in mining and quarrying decreased in August by 1.0 per cent year-on-year.

Trend series of turnover, export turnover and domestic turnover in manufacturing (BC), January 2007 to August-September 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, September, Statistics Finland

Inquiries: Maija Sappinen 029 551 3348, Heli Suonio 029 551 2481, 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) (14.11.2019)

Figures

Appendix figure 1. Change from the previous month in seasonally adjusted turnover in manufacturing (BCD), % (TOL 2008) (14.11.2019)

Revisions in these statistics

Revisions in these statistics (14.11.2019)

Updated 14.11.2019

Referencing instructions:

Official Statistics of Finland (OSF): Index of turnover in industry [e-publication].
ISSN=1798-596X. September 2019. Helsinki: Statistics Finland [referred: 16.11.2024].
Access method: http://www.stat.fi/til/tlv/2019/09/tlv_2019_09_2019-11-14_tie_001_en.html