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Industrial output fell by 2.5 per cent last year

Industrial output fell by 2.5 per cent in 2005. Industrial output declined for the first time in ten years. Industrial action in the paper industry and strongly grown imports of energy were partly the reason for the decline.

Change in industrial output 1995-2005, %

According to Statistics Finland, seasonally adjusted industrial output was 2.8 per cent lower in December 2005 than in December 2004.

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

In December, output declined most year-on-year, or by good 11 per cent, in the manufacture of electrical and electronic products. Output in energy supply decreased by good 7 per cent. Behind the decline is strong growth in the imports of energy. In the chemical industry, output diminished by close on 4 per cent. Growth industries included the wood and paper industry, where output went up by nearly 5 per cent, and other metal industry with 5.5 per cent increase in output, largely thanks to strong growth in the manufacture of transport equipment.

Seasonally adjusted change in industrial output 12/2004-12/2005, %

The prolonged declining trend in industrial output halted and turned towards slight growth in July. The trend in industrial output is now rising at the same rate in Finland and in the other EU countries.

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

In the metal industry, the trend began to show some growth in the summer, but has now turned to a slight decline. 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 upwards after the industrial action. The share of the wood and paper industry of the total value added was 16 per cent. The trend in the chemical industry turned to a slight decline towards the end of the year. The chemical industry generated 9 per cent of the total value added.

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

Measured in terms of value added, 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 has turned to a decline since the latter part of 2004. In other metal industry, which accounted for 24 per cent of the total value added, the trend is showing steady growth.

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

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Last updated 31.1.2006