Turnover in manufacturing decreased by 4.2 per cent in February

According to Statistics Finland, working day adjusted turnover in manufacturing (TOL BCD) decreased in February by 4.2 per cent year-on-year. Turnover in the forest industry decreased most among the main industries, by 28.7 per cent year-on-year. Industrial actions also affected the decrease of turnover in the forest industry in February. Seasonally adjusted turnover in manufacturing (TOL BCD) decreased by 0.4 per cent compared to January.

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

Turnover also decreased from the previous year in electricity, gas, steam and air conditioning supply, by 9.2 per cent, and in the chemical industry, by 3.0 per cent. The growth in turnover was strongest in the metal industry, 10.3 per cent from the previous year.

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

Export turnover and domestic turnover decreased most in the forest industry in January

In January, growth in working day adjusted export turnover was highest in the industry of mining and quarrying, up by 32.7 per cent from the previous year. Export turnover was also growing in the food industry, by 9.2 per cent, and in the metal industry, by 4.6 per cent from the previous year. Export turnover fell in January in the forest industry by 10.2 per cent and in the textile, clothing and leather industry by 8.5 per cent. In the electronic and electrical industry, export turnover also decreased, by 5.7 per cent, and export turnover in the chemical industry declined by 5.5 per cent from the previous year.

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

Among the main industries, domestic turnover increased most in the metal industry in January, by 11.2 per cent, while domestic turnover in the forest industry decreased equally much year-on-year. Domestic turnover was growing in the electronic and electrical industry, by 9.0 per cent, mining and quarrying, by 6.3 per cent, and the food industry, by 1.9 per cent year-on-year. In addition to the forest industry, domestic turnover fell in the chemical industry by 8.9 per cent and in the textile, clothing and leather industry by 1.7 per cent from the previous year.

Trend series of turnover, export turnover and domestic turnover in manufacturing (BC), January 2007 to January-February 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, February, 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) (15.4.2020)

Figures

Appendix figure 1. Change from the previous month in seasonally adjusted turnover in manufacturing (BCD), % (TOL 2008) (15.4.2020)

Revisions in these statistics

Revisions in these statistics (15.4.2020)

Updated 15.4.2020

Referencing instructions:

Official Statistics of Finland (OSF): Index of turnover in industry [e-publication].
ISSN=1798-596X. February 2020. Helsinki: Statistics Finland [referred: 16.11.2024].
Access method: http://www.stat.fi/til/tlv/2020/02/tlv_2020_02_2020-04-15_tie_001_en.html