Turnover in industry decreased by 4.0 per cent in October

According to Statistics Finland, working day adjusted turnover in industry (TOL BCD) decreased in October by 4.0 per cent year-on-year. Of the main industries, turnover decreased most in electricity, gas, steam and air conditioning supply, where it was 14.4 per cent lower than one year earlier. Seasonally adjusted turnover in industry (TOL BCD) grew by 1.4 per cent compared with September.

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

Turnover in the chemical industry decreased by 12.7 per cent and turnover in the forest industry by 8.4 per cent in October from twelve months earlier. Turnover in the textile, clothing and leather industry was 5.4 per cent lower and in the food industry 0.4 per lower than in the previous year. Turnover grew most in the electronic and electrical industry, by 14.9 per cent from twelve months earlier. Turnover in mining and quarrying increased by 7.7 per cent and turnover in the metal industry by 3.2 per cent.

Annual change in working day adjusted turnover in manufacturing by industry, October 2020, % (TOL 2008)

Export turnover and domestic turnover decreased most in the chemical industry in September

In September, export turnover declined most in the chemical industry, by 20.4 per cent and in the forest industry, by 12.3 per cent from one year earlier. In the metal industry, export turnover was 7.3 per cent lower and in the electronic and electrical industry 4.8 per cent lower than one year previously. Export turnover grew most in mining and quarrying, by 32.6 per cent from one year ago. The export turnover in the textile, clothing and leather industry grew by 12.9 per cent and in the food industry by 0.7 per cent from one year ago.

Annual change in working day adjusted export turnover and domestic turnover in manufacturing by industry, September 2020, % (TOL 2008)

In September, domestic turnover declined most in the chemical industry, by 30.0 per cent, and in mining and quarrying, by 26.2 per cent from one year earlier. Domestic turnover decreased by 4.6 per cent in the forest industry and by 3.8 per cent in the metal industry. Domestic turnover increased in both the electronic and electrical industry, by 10.5 per cent, and in the textile, clothing and leather industry, by 8.9 per cent from the previous year.

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

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

Head of Department 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) (15.12.2020)

Figures

Appendix figure 1. Change from the previous month in seasonally adjusted turnover in manufacturing (BCD), % (TOL 2008) (15.12.2020)

Revisions in these statistics

Revisions in these statistics (15.12.2020)

Updated 15.12.2020

Referencing instructions:

Official Statistics of Finland (OSF): Index of turnover in industry [e-publication].
ISSN=1798-596X. October 2020. Helsinki: Statistics Finland [referred: 26.11.2024].
Access method: http://www.stat.fi/til/tlv/2020/10/tlv_2020_10_2020-12-15_tie_001_en.html