Home > Statistics > Volume index of industrial output > 2005 > June > Industrial output fell by 9.8 per cent in June from one year ago

Industrial output fell by 9.8 per cent in June from one year ago

According to Statistics Finland, seasonally adjusted industrial output was 9.8 per cent lower in June 2005 than in June 2004. Industrial output last fell equally strongly during the deepest recession in the early 1990s.

Seasonally adjusted change in industrial output
from corresponding month of previous year, %

The industrial action in the paper industry showed its full weight in the June output figures. Among the main industries, output fell by most, or by as much as 61.6 per cent, in the wood and paper industry. The industrial action also affected the production and consumption of electricity. Energy supply declined by 33.4 per cent. Of the main industries only the other metal industry grew, by good one per cent.

Seasonally adjusted change in industrial output 6/2004-6/2005, %

The declining trend in Finnish industrial output gathered momentum. The trend in industrial output has been falling since last year's September.

 

Trend in industrial output 1999-2005, (Finland and EU 25), 2000=100

In the metal industry, the downward trend came to a halt in April. In 2003, the metal industry accounted for 48 per cent of the total value added of Finnish industry. In the wood and paper industry, the trend turned to a slight decline in the early part of the year. The share of the wood and paper industry of the total value added was 16 per cent. The trend in the chemical industry continued to fall in June. The chemical industry generated 9 per cent of the total value added.

Trend in industrial output 1999-2005, June
(Chemical industry, wood and paper industry and metal industry), 2000=100

Measured in terms of value added, the manufacture of electrical and electronic products has become Finland's most important industry. Its share of the total value added was 24 per cent in 2003. The trend in the manufacture of electrical and electronic products took a slight swing upwards in May. In the other metal industry, which accounted for 24 per cent of the total value added, output has followed an evenly modest path.

Trend in industrial output 1999-2005, June
(Manufacture of electrical and electronic products and other metal industry), 2000=100

---

Last updated 29.7.2005