Turnover in manufacturing grew by 0.4 per cent in November

According to Statistics Finland, working day adjusted turnover in manufacturing (TOL BCD) increased in November by 0.4 per cent year-on-year. Among the main manufacturing industries, most growth was recorded in the turnover of the electronic and electrical industry, up by 25.5 per cent from the year before. Of the main industries, turnover declined most in the forest industry, by 9.2 per cent from one year earlier. Seasonally adjusted turnover in manufacturing (TOL BCD) grew by 1.2 per cent compared with October.

Annual change in working day adjusted turnover in manufacturing (BCD), % (TOL 2008)

After the electronic and electrical industry, turnover in the main industries grew most in mining and quarrying, by 11.6 per cent, and in the metal industry, by 6.1 per cent in November from the year before. Besides the forest industry, turnover also decreased in the chemical industry, by 3.1 per cent, and in the textile, clothing and leather industry, by 2.7 per cent.

Annual change in working day adjusted turnover in manufacturing by industry, November 2019, % (TOL 2008)

Export turnover of the forest industry fell most among main industries in October

In October, working day adjusted export turnover increased most in the industry of mining and quarrying, by 31.6 per cent, and in the food industry, by 16.3 per cent year-on-year. The export turnover of the textile, clothing and leather industry grew by 5.0 per cent. The export turnover of the forest industry, which has decreased for several months, declined by 13.2 per cent in October from the year before. Export turnover also fell in October in the chemical industry, by 7.5 per cent, and in mining and manufacturing, by 4.5 per cent from one year back.

Annual change in working day adjusted export turnover and domestic turnover in manufacturing by industry, October 2019, % (TOL 2008)

Domestic turnover decreased in October for most of the main industries. Domestic turnover declined most in the chemical industry, by 5.8 per cent, and in the forest industry, by 4.3 per cent from the year before. Domestic turnover grew in the electrical and electronics industry, by 3.6 per cent, and in mining and quarrying, by 0.8 per cent from one year back.

Trend series of turnover, export turnover and domestic turnover in manufacturing (BC), January 2007 to October-November 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, November, Statistics Finland

Inquiries: Maija Sappinen 029 551 3348, Heli Suonio 029 551 2481, myynti.teollisuus@stat.fi

Director in charge: Mari Yl�-Jarkko

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Appendix tables

Appendix table 1. Annual change of working-day adjusted turnover in industries of manufacturing, % (TOL 2008) (15.1.2020)

Figures

Appendix figure 1. Change from the previous month in seasonally adjusted turnover in manufacturing (BCD), % (TOL 2008) (15.1.2020)

Revisions in these statistics

Revisions in these statistics (15.1.2020)

Updated 15.1.2020

Referencing instructions:

Official Statistics of Finland (OSF): Index of turnover in industry [e-publication].
ISSN=1798-596X. November 2019. Helsinki: Statistics Finland [referred: 29.12.2024].
Access method: http://www.stat.fi/til/tlv/2019/11/tlv_2019_11_2020-01-15_tie_001_en.html