Home > Statistics > Index of turnover in industry > 2008 > July > Turnover in manufacturing grew by 7.5 per cent form the year before in May to July

Published: 24 October 2008

Turnover in manufacturing grew by 7.5 per cent form the year before in May to July

According to Statistics Finland, turnover in manufacturing in the May to July period was 7.5 per cent higher than in the corresponding period of the year before. Domestic sales grew by 9.2 per cent and export turnover by 6.1 per cent from one year ago.

In May to July, turnover grew most in energy and water supply, by 27.6 per cent, and in the chemical industry, by 26.9 per cent. Turnover also grew briskly in the manufacture of fabricated metal products, machinery and equipment, and food products, beverages and tobacco. In contrast, turnover in the manufacture of electrical and optical equipment turned to a 1.6 per cent decline. In the manufacture of basic metals turnover fell by 1.7 per cent and in the wood and paper industry by 7.9 per cent from one year back.

Annual change in turnover in all manufacturing and in selected manufacturing industries during 05/2008-07/2008, %

The index of turnover in industry describes enterprises whose main industry is manufacturing. The calculation of the indices is based on the Tax Administration's value added tax data which are supplemented with data obtained with Statistics Finland's sales inquiry. The monthly turnovers of manufacturing enterprises can vary considerably, especially in the metal industries. The variation is mainly due to invoicing practices. The final invoice for major machinery deliveries and projects may be recorded in the sales of one month, even if the delivery had required the work of several months or years.

Starting from data concerning January 2009, the revised standard industrial classification TOL 2008 and base year 2005=100 will be introduced in these statistics. For further information about the TOL 2008 classification see theTOL 2008 section on Statistics Finland's website. Anews item about the adoption of TOL 2008 in statistics describing turnover in industry is posted on the home page of these statistics.

Source: Index of turnover in industry, July 2008. Statistics Finland

Inquiries: Mr Matti Paavonen +358 9 1734 3331, Ms Tarja Husso +358 9 1734 3534, volyymi.indeksi@stat.fi

Director in charge: Ms Hannele Orjala

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Last updated 24.10.2008