Establishments’ gross value of output contracted in 2020

Finland had 403,300 establishments, whose combined gross value of output was EUR 318 billion in 2020. Due to the COVID-19 crisis, the value of output was EUR 14.5 billion, or 4.4 per cent, lower than in 2019. Output contracted most in service industries and manufacturing but grew in construction and trade. These data derive from Statistics Finland's regional statistics on entrepreneurial activity.

Developments in gross value of output in main industries in 2019 to 2020

The output of establishments in service industries contracted by EUR 7.7 billion, or 6.7 per cent less than in 2019. In service industries, accommodation and food service activities suffered significantly from the COVID-19 crisis, their gross value of output contracted by 27.6 per cent from the previous year. The gross value of output in both transportation and storage and arts, entertainment and recreation was 19.7 per cent lower than in 2019.

The output of establishments in manufacturing contracted by EUR 8.1 billion, or 5.8 per cent from the year before. Output contracted most in manufacturing in establishments of manufacture of coke and refined petroleum products, where output contracted by 44.3 per cent from one year ago. The output of establishments engaged in manufacture of leather and related products contracted by 20.3 per cent. The manufacture of paper and paper products also fell by 16.3 per cent from the year before. The drop in the value of output was affected not only by the contraction in output but also by decreases in the prices of oil and wood.

The gross value of output grew in both main industries of trade and construction from the previous year. The output of establishments in trade grew by EUR 0.6 billion or 1.7 per cent from the year before and that of establishments in construction by EUR 0.8 billion or two per cent from the year before.

Gross value of output fell strongest in Åland in 2020

Gross value of output decreased in nearly all regions in 2020. Output grew from the previous year only in Kanta-Häme and Central Finland. The COVID-19 crisis is varyingly visible in different industries, which causes it to be reflected to various degrees in different regions.

Development of gross value of output in regions in 2020

Of the regions, Åland fared the weakest, there the combined output of all industries went down by 17.9 per cent from the previous year. The fall was caused by the industries of transportation and storage and accommodation and food service activities that suffered most from the COVID-19 crisis. Output contracted by 47.5 per cent in transportation and storage and by 26.7 per cent in accommodation and food service activities from 2019.

In Åland, several industries seem to have suffered strongly from the COVID-19 crisis, but there are also industries in the area that have managed better than average in the coronavirus year. Arts, entertainment and recreation grew by 14 per cent in Åland, while in the whole country, output in the industry contracted by 12 per cent from the year before.

Despite the COVID19 crisis, the gross value of output in Kanta-Häme grew by 1.7 per cent from the year before. Growth was mainly generated in the industries of education, communication and information, and human health and social work activities.

After excluding production costs from the gross value of output, the value added of establishments totalled EUR 114 billion. Value added decreased by EUR 4.8 billion from the previous year, i.e., by 4.1 per cent. Value added is the combined value added generated by different production factors in the actual production activities of the establishment. Growth in value added calculated per person usually indicates better profitability and efficiency in operations. The value added by industry per staff year shows that the efficiency in trade and construction industries improved in 2020 despite the COVID19 crisis.

Value added per person in 2019 to 2020

More information on the development of enterprises and establishments in the coronavirus year 2020 are found in the review in finnish.

Separate tables on general government establishments are also published in connection with the statistics. The tables contain information on general government establishments operating in our country by industry, general government type and area.

Source: Regional statistics on entrepreneurial activity 2020, Statistics Finland

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

Head of Department in charge: Katri Kaaja

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Appendix tables

Appendix table 1: Number of personnel in establishments and growth in staff-years by region in 2020 (16.12.2021)
Appendix table 2: Structure of establishments in 2020 (16.12.2021)

Updated 16.12.2021

Referencing instructions:

Official Statistics of Finland (OSF): Regional statistics on entrepreneurial activity [e-publication].
ISSN=2342-6268. 2020. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/alyr/2020/alyr_2020_2021-12-16_tie_001_en.html