Published: 13 September 2019
Turnover in manufacturing grew by 3.6 per cent in July
According to Statistics Finland, working day adjusted turnover in manufacturing (TOL BCD) increased in July by 3.6 per cent year-on-year. Among the main manufacturing industries, growth in working day adjusted turnover was strongest in the electrical and electronics industry, 36.8 per cent. Seasonally adjusted turnover in manufacturing (TOL BCD) grew by 0.7 per cent compared with June.
Annual change in working day adjusted turnover in manufacturing (BCD), % (TOL 2008)
Among the main industries, turnover decreased most in the chemical industry, by 6.1 per cent, and in the forest industry, by 4.7 per cent from one year earlier. Turnover also decreased in mining and quarrying, by 2.3 per cent and in the industry of electricity, gas, steam and air conditioning supply, by 2.0 per cent.
Annual change in working day adjusted turnover in manufacturing by industry, July 2019, % (TOL 2008)
Export turnover growing in several main industries in June
Export turnover grew in June most in the electrical and electronics industry, by 37.3 per cent, and in the chemical industry, by 12.5 per cent. The export turnover of the food industry also grew, by 10.9 per cent. In June, just like in the month before, export turnover decreased most in mining and quarrying, by 45.8 per cent. The export turnover of the forest industry also decreased, by 9.4 per cent year-on-year.
Annual change in working day adjusted export turnover and domestic turnover in manufacturing by industry, June 2019, % (TOL 2008)
Domestic turnover grew in most main industries in June. Growth was strongest in the forest industry, 3.4 per cent from twelve months earlier. By contrast, domestic turnover decreased from one year ago in the industry of mining and quarrying, by 11.4 per cent, and in the electrical and electronics industry, by 1.3 per cent.
Trend series of turnover, export turnover and domestic turnover in manufacturing (BC), January 2007 to June-July 2019, % (TOL 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 self-assessed 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.
The factors caused by the variation in the number of weekdays are taken into account in adjustment for working days. This means taking into consideration the lengths of months, different weekdays and holidays. In addition, seasonal variation is eliminated from seasonally adjusted series, on account of which it makes sense to compare observations of two successive months as well.
In terms of turnover, data for the latest month are preliminary and are released at a delay of around six weeks. The data may become significantly revised particularly on more detailed industry levels in coming months. Export turnover and domestic turnover are, for the time being, still released at a delay of two and a half months.
Source: Index of turnover in industry 2019, July, Statistics Finland
Inquiries: Maija Sappinen 029 551 3348, Heli Suonio 029 551 2481, myynti.teollisuus@stat.fi
Director in charge: Mari Ylä-Jarkko
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Updated 13.9.2019
Official Statistics of Finland (OSF):
Index of turnover in industry [e-publication].
ISSN=1798-596X. July 2019. Helsinki: Statistics Finland [referred: 29.12.2024].
Access method: http://www.stat.fi/til/tlv/2019/07/tlv_2019_07_2019-09-13_tie_001_en.html