Turnover in manufacturing decreased by 3.5 per cent in January

According to Statistics Finland, working day adjusted turnover in manufacturing (TOL BCD) decreased in January by 3.5 per cent year-on-year. Among the main industries, turnover decreased most from the previous year in electricity, gas, steam and air conditioning supply, by 20.1 per cent, and in the forest industry, by 10.6 per cent. Seasonally adjusted turnover in manufacturing (TOL BCD) decreased by 4.5 per cent compared to December.

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

In January, growth in turnover was strongest in the industry of mining and quarrying, up by 8.1 per cent from the previous year. Turnover in the metal industry increased by 6.3 per cent and turnover in the food industry by 4.6 per cent in January.

Annual change in working day adjusted turnover in manufacturing by industry, January 2020, % (TOL 2008)

Export turnover grew in almost all main industries in December

Working day adjusted export turnover grew in December most in the electronic and electrical industry, by 53.6 per cent, and in the metal industry, by 28.6 per cent. Export turnover also grew from the previous year in the food industry, by 8.6 per cent, in the chemical industry, by 7.8 per cent, and in the textile, clothing and leather industry, by 5.0 per cent. Export turnover decreased in December in two main industries: export turnover in mining and quarrying was 23.6 per cent lower and export turnover in the forest industry 13.5 per cent lower in December than one year before.

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

Correspondingly, domestic turnover decreased in December in almost all main industries. Domestic turnover decreased most in the forest industry, by 11.6 per cent, and in mining and quarrying, by 8.0 per cent, from the year before. In December, domestic turnover was growing only in the electronic and electrical industry, by 2.8 per cent, and in the food industry, by 0.5 per cent.

Trend series of turnover, export turnover and domestic turnover in manufacturing (BC), January 2007 to December 2019-January 2020, % (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 2020, January, 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) (13.3.2020)

Figures

Appendix figure 1. Change from the previous month in seasonally adjusted turnover in manufacturing (BCD), % (TOL 2008) (13.3.2020)

Revisions in these statistics

Revisions in these statistics (13.3.2020)

Updated 13.3.2020

Referencing instructions:

Official Statistics of Finland (OSF): Index of turnover in industry [e-publication].
ISSN=1798-596X. January 2020. Helsinki: Statistics Finland [referred: 16.11.2024].
Access method: http://www.stat.fi/til/tlv/2020/01/tlv_2020_01_2020-03-13_tie_001_en.html