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Published: 29 April 2021

Finnish enterprises' turnover abroad over EUR 200 billion in 2019

According to Statistics Finland's data, Finnish enterprises had business activity in 5,390 affiliates located in 135 countries in 2019. Compared with the previous year, the activity of Finnish enterprises abroad increased when viewed with several indicators. The number of personnel rose by two per cent. Turnover and investments went up by over ten per cent. Most of the turnover was generated by enterprises in the EU area. Of individual countries, most turnover was generated in Sweden, as much as one-fifth of total turnover.

Figure 1. Finnish enterprises’ turnover abroad by country group in 2014 to 2019

The combined total turnover of Finnish affiliates located abroad amounted to close on EUR 201 billion. The figure describes unconsolidated turnover, in other words, it includes, for instance, intra-group trade. Over one-half of the turnover was generated in EU countries and 16 per cent in Asia and Oceania. In affiliates located in EU countries, the largest amounts of turnover were generated in wholesale and retail trade, good EUR 21.3 billion, and in financial intermediation and insurance activities, nearly EUR 18 billion. In Asia and Oceania, the electronics and electrical industry with close on EUR 11.9 billion was the most significant industry measured by turnover. Measured globally, nearly 57 per cent of the turnover of Finnish enterprises abroad was generated in affiliates of manufacturing and nearly one-fifth of total turnover came from wholesale and retail trade. Examined by country, most turnover was accumulated in Sweden, some EUR 43.9 billion.

Finnish affiliates abroad employed the largest number of personnel in EU countries, altogether nearly 295,850 persons. Measured by the number of employees, the most significant industries in EU countries were the machinery and metal industries with 53,570 employees and the electrical and electronics industry with good 42,920 employees. Affiliates in Asia and Oceania were the second most significant employers of personnel with nearly 135,430 employees. In Asia and Oceania, the biggest employers among manufacturing industries were the electrical and electronics industry with good 56,590 persons and the machinery and metal industry with 48,700 persons. Examined globally, the biggest employers were affiliates of the electrical and electronics industry with close on 145,250 employees. Sweden was the most significant employer country of Finnish affiliates abroad with 75,620 employees.

Finnish affiliates abroad invested nearly EUR 4.8 billion into their tangible goods. As much as 67 per cent of the investments were made in Europe and 15 per cent in Asia and Oceania. The manufacturing industry was globally the most significant investment target for Finnish enterprises abroad, amounting to close on EUR 2.9 billion. Investments were particularly directed at affiliates of the chemical and paper industry. In Europe, investments in affiliates of the manufacturing industry amounted to nearly EUR 1.3 billion in EU countries. In countries outside the EU, most investments were made in electricity, gas and water supply enterprises, amounting to nearly EUR 179 million. Of individual countries, most was invested in Sweden, close on EUR 1.2 billion.

In 2019, the United Kingdom was for the last year a Member of the European Union. The activity of Finnish enterprises in the United Kingdom decreased somewhat. The number of enterprises fell by four per cent. The number of personnel went down by six per cent, being good 12,800 persons. Investments decreased by four per cent and amounted to around EUR 77 million. Turnover remained almost unchanged at EUR 4.2 billion.

Source: Finnish affiliates abroad 2019, Statistics Finland

Inquiries: Anna-Maija Laakko 029 551 3640, tytaryhtiot@stat.fi

Head of Department in charge: Katri Kaaja

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Appendix tables

• Appendix table 1. Finnish affiliates abroad by country group in 2019 (29.4.2021)
• Appendix table 2. Finnish affiliates in EU countries in 2019 (29.4.2021)
• Appendix table 3. Finnish affiliates in countries outside EU in 2019 (29.4.2021)
• Appendix table 4. Finnish affiliates abroad by industry in 2019 (29.4.2021)
• Appendix table 5. Finnish affiliates abroad in manufacturing industries in 2019 (29.4.2021)
• Appendix table 6. Finnish affiliates in EU countries in 2019, the largest industries 1) (29.4.2021)
• Appendix table 7. Finnish affiliates in countries outside EU in 2019, the largest industries 1) (29.4.2021)

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Updated 29.4.2021