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Industrial output grew by 14.6 per cent year-on-year in May

According to Statistics Finland, seasonally adjusted industrial output was 14.6 per cent higher in May 2006 than in May 2005. Industrial output has shown strong growth in the early part of this year. In the January to May period, seasonally adjusted industrial output grew by 6.0 per cent from twelve months back.

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

Industrial output went up in all the examined industries in May. The industrial action in the paper industry that coincided with May-June of the previous year can be seen as growth in the figures for industrial output in May 2006. Among the main industries, the biggest year-on-year increase in output in May 2006, or as much as 65.6 per cent from May 2005, was, indeed, recorded in the wood and paper industry. In other metal industry output increased by 13.4 per cent from twelve months back. Manufacture of electrical and electronic products grew by 12.4 per cent and energy supply by 11.9 per cent.

Seasonally adjusted change in industrial output 5/2005-5/2006, %

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.

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. In the early part of the year, 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 has been declining since the end of 2005. The share of the wood and paper industry of the total value added was 15 per cent.

Trend in industrial output 1999-2006, May
(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 strong growth after mid-2005. In other metal industry, which accounted for 24 per cent of the total value added, output continued to grow steadily in early 2006.

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

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Last updated 30.6.2006