Published: 13 November 2020
Turnover in industry decreased by 10.2 per cent in September
According to Statistics Finland, working day adjusted turnover in industry (TOL BCD) decreased in September by 10.2 per cent year-on-year. Of the main industries, turnover declined most in the chemical industry, by 21.3 per cent from one year earlier. Seasonally adjusted turnover in industry (TOL BCD) fell by 2.0 per cent compared with August.
Annual change in working day adjusted turnover in manufacturing (BCD), % (TOL 2008)
Turnover decreased in September among most main industries. After the chemical industry, turnover declined most in the forest industry, by 13.4 per cent from one year earlier. Turnover in the metal industry decreased by 5.2 per cent, in the electronic and electrical industry by 4.9 per cent and in electricity, gas, steam and air conditioning supply by 4.8 per cent. Turnover in the food industry also decreased somewhat, by 0.5 per cent from one year back. Among the main industries, turnover grew in September only in the textile, clothing and leather industry, where it was 7.0 per cent higher than in the corresponding period last year.
Annual change in working day adjusted turnover in manufacturing by industry, September 2020, % (TOL 2008)
Export turnover decreased most in the forest industry in August
Export turnover declined in August most in the forest industry, by 24.5 per cent from one year earlier. Export turnover in the chemical industry was 11.3 per cent lower and in the textile, clothing and leather industry 10.3 per cent lower than one year ago. Export turnover grew most in the electronic and electrical industry, by 13.7 per cent, and in the metal industry, by 9.3 per cent. In addition to these, export turnover grew in the food industry, by 3.4 per cent, and in mining and quarrying, by 1.3 per cent from one year back.
Annual change in working day adjusted export turnover and domestic turnover in manufacturing by industry, August 2020, % (TOL 2008)
Domestic turnover decreased strongest in August in the chemical industry, by 25.1 per cent, and in the forest industry, by 13.4 per cent from one year ago. In mining and quarrying, domestic turnover was 11.2 per cent lower and in the metal industry 5.8 per cent lower than one year before. Domestic turnover in the food industry decreased by 1.0 per cent from one year back. In turn, domestic turnover grew in the textile, clothing and leather industry, by 11.2 per cent, and in the electronic and electrical industry, by 2.8 per cent from one year ago.
Trend series of turnover, export turnover and domestic turnover in manufacturing (BC), January 2007 to August-September 2020, % (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 2020, September, Statistics Finland
Inquiries: Maija Sappinen 029 551 3348, Heli Suonio 029 551 2481, myynti.teollisuus@stat.fi
Head of Department in charge: Mari Ylä-Jarkko
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Updated 13.11.2020
Official Statistics of Finland (OSF):
Index of turnover in industry [e-publication].
ISSN=1798-596X. September 2020. Helsinki: Statistics Finland [referred: 26.11.2024].
Access method: http://www.stat.fi/til/tlv/2020/09/tlv_2020_09_2020-11-13_tie_001_en.html