Enterprises’ turnover fell by 3.9 per cent in 2020

According to Statistics Finland’s preliminary data, enterprises’ (TOL B to S, excl. K) turnover without internal items was EUR 410.9 billion in total in 2020. The turnover generated totalled EUR 16.5 billion, which is 3.9 per cent less than in the year before. Of the fall in turnover, EUR 10.2 billion was generated from manufacturing enterprises and EUR 7.5 billion from service enterprises. By contrast, turnover grew by EUR 0.5 billion in trade and by EUR 0.6 billion in construction.

Enterprises’ turnover 2019–2020*

The operating profit accrued to the whole enterprise sector amounted to EUR 20.1 billion in 2020. In 2019, operating profit amounted to EUR 22.1 billion, that is, operating profit decreased by 9.2 per cent. Operating income fell by a total of EUR 15.9 billion, or by 3.6 per cent. The fall was slightly lower than the fall in turnover due to increased grants and subsidies reported in other operating income. Operating expenses, depreciations and reductions in value decreased in total by EUR 13.9 billion from 2019.

Enterprises’ value added was EUR 112.0 billion in 2020. The value added accrued was EUR 2.3 billion lower than in 2019. Value added decreased particularly in service industries, by a total of EUR 2.8 billion. In trade and construction, in turn, value added grew compared to 2019, by EUR 0.4 billion in trade and by EUR 0.3 billion in construction. Value added in manufacturing industries decreased by EUR 0.2 billion compared to 2019.

Enterprises’ value added in 2020*

The data in the paragraphs above are based on the business and financial statement statistics, which contain data on the industries of manufacturing (TOL B to E), construction (TOL F), trade (TOL G) and other services apart from financial and insurance activities (TOL H to S, excl. K).

In the summary of industries (TOL H-S, excl. K), data on investments have been suppressed due to the uncertainty of them. The data will be released in connection with the December statistical release.

Number of personnel decreased by 19,000 staff-years in 2020

According to preliminary data, the total number of enterprises (TOL B to X) was around 292,000. The number of enterprises was only close to 200 more than in 2019. The number of enterprises increased most in financial and insurance activities, by around 800 enterprises in total. The number of enterprises also grew significantly in construction, professional, scientific and technical activities, and real estate activities. The number of enterprises decreased most in trade, by a total of around 700 enterprises. The number of enterprises also decreased by several hundred in manufacturing and other service activities (TOL S).

The number of personnel employed by enterprises was in total close on 1.5 million converted into full-time employees in 2020. The figure includes both wage and salary earners and entrepreneurs. The combined number of personnel in the entire enterprise sector decreased by 19,000 staff-years, or 1.3 per cent, compared with the previous year. The majority of the fall, around 16,000 staff-years, was explained by a decrease in the number of personnel in service industries. The number of personnel also went down in trade and manufacturing but more moderately than in service industries. By contrast, the number of personnel in construction grew by 1,800 staff-years.

The data of the two previous paragraphs are based on data of the business structures statistics, which cover all industries apart from primary production (TOL A) in terms of preliminary data.

Data basis of the statistics

The preliminary data of the structural business and financial statement statistics are based on data on enterprises defined by Statistics Finland. An enterprise is a unit with decision-making autonomy, which produces goods and/or services to be sold on the market. An enterprise is formed by one or several legal units (Business ID). The preliminary statistics cover data from industries B to S. The units of primary production are missing from the preliminary data, and thus the combined data of all enterprises are not published. The data are based on the Tax Administration's business taxation data. The data have been supplemented with Statistics Finland's own inquiry.

Database tables based on both enterprises and legal units (Business IDs) are published on the structural business and financial statement statistics.

Source: Statistics Finland

Inquiries: Milka Suomalainen 029 551 3621, Mira Kuussaari 029 551 3538, rakenne.tilastot@stat.fi

Head of Department in charge: Katri Kaaja

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Updated 23.09.2020

Referencing instructions:

Official Statistics of Finland (OSF): Structural business and financial statement statistics [e-publication].
ISSN=2342-6233. 2020. Helsinki: Statistics Finland [referred: 5.11.2024].
Access method: http://www.stat.fi/til/yrti/2020/yrti_2020_2021-09-23_tie_001_en.html