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Information about the change of the base year and revisions to data of the Volume Index of Industrial Output

The new base year of the Volume Index of Industrial Output is 2010. The Volume Index of Industrial Output has been re-calculated from the basic data starting from 2011, whereby the point figures and change percentages for the years 2011 and 2012 change. The years 1995 to 2010 were changed to correspond to the base year 2010=100.

The seasonal adjustment models for the volume index of industrial output are updated once a year. The updating is made now in connection with the base year change. The updating of the models has effects on the industry-specific working day and seasonally adjusted series as well as in the trend series.

Final index for 2011

The data on the Volume Index of Industrial Output for the year 2011 are final. The final annual volume index is calculated from the regional and industrial statistics on manufacturing. Changes in gross value at the 3-digit level of the industrial classification have been divided by changes in the producer price index of the industries concerned. The preliminary annual change of the monthly index has been revised with the obtained coefficient. Calculation of the final annual volume index influences the index point figures and change percentages for 2011.

The table below shows annual changes in the preliminary monthly index (the base year 2005) and the final annual index (the base year 2010) by industry.

Table 1. Volume Index of Industrial Output for 2011, preliminary and final annual changes

TOL 2008	Annual index 2011, %
	Preliminary	Final
Total industries (BCDE)	0.8	1.7
Mining and quarrying (B)	6.4	6.4
Manufacturing (C)	2.0	3.0
Food industry (10-11)	0.0	0.4
Forest industry (16-17)	-3.8	-3.0
Chemical industry (19-22)	3.1	5.9
Metal industry (24-30,33)	4.1	4.4
Electrical and electronics industry (26-27)	-2.2	-2.2
Manufacture of transport equipment (29-30)	-5.6	-2.6
Electricity, gas, steam and air conditioning supply (D)	-8.9	-8.9

Revisions in 2012

The value added weights for industries and gross value weights for strata have been updated to correspond to the situation in 2011. The value added share of mining and quarrying grew in 2011 compared with 2010. In contrast, the value added share of the electrical and electronics industry decreased from 2010.

The table below demonstrates the shares of value added in the main industries in 2010 and 2011.

Table 1. Value added shares in industry, 2010 and 2011

TOL 2008	Value added 2010 (%)	Value added 2011 (%)
Total industries (BCDE)	100.0	100.0
Mining and quarrying (B)	1.7	3.8
Manufacturing (C)	83.7	82.9
Food industry (10-11)	7.8	7.5
Forest industry (16-17)	13.6	13.1
Chemical industry (19-22)	13.1	13.1
Metal industry (24-30,33)	41.4	40.8
Electrical and electronics industry (26-27)	13.4	10.2
Manufacture of transport equipment (29-30)	2.0	2.6
Electricity, gas, steam and air conditioning supply (D)	12.0	10.2

 

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Last updated 8.3.2013