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Industrial output grew by 3.1 per cent year-on-year in March

According to Statistics Finland, seasonally adjusted industrial output was 3.1 per cent higher in March 2006 than in March 2005. Industrial output has shown strong growth in the early part of this year. In the January to March period, seasonally adjusted industrial output grew by 2.5 per cent from twelve months back.

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

Except for the pulp and paper industry, industrial output grew in March in all main industries from twelve months back. The rate of growth accelerated in the metal industry where output went up by 11 per cent from March 2005. The manufacture of electrical and electronic products increased by good 8 per cent. The strongest growth was recorded in other metal industry where output went up by good 13 per cent. Output in the chemical industry also increased slightly.

Seasonally adjusted change in industrial output 3/2005-3/2006, %

The growth in Finnish industrial output accelerated in the early part of the year. Industrial output now grows faster in Finland than in the EU countries on the average. However, in Finland's main export countries of Germany and Sweden industrial output has grown even faster than in Finland.

Trend in industrial output 1999-2006, (Finland, Germany, Sweden and EU 25), 2000=100

 

Strong growth in output continued in the metal industry. In 2004, the metal industry accounted for 45 per cent of the total value added of Finnish industry. Output turned slightly upwards in the chemical industry, which generated 12 per cent of the total value added. In the wood and paper industry, output began to show a slight decline in the early part of the year. The share of the wood and paper industry of the total value added was 15 per cent.

Trend in industrial output 1999-2006, March
(Chemical industry, wood and paper industry, and metal industry), 2000=100

The share of the electronics industry of the total value added was 21 per cent in 2004. Output in the manufacture of electrical and electronic products has swung towards growth since its decline last year. In other metal industry, which accounted for 24 per cent of the total value added, output continued to grow in early 2006.

Trend in industrial output 1999-2006, March
(Manufacture of electrical and electronic products and other metal industry), 2000=100

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Last updated 28.4.2006