Turnover in industry decreased by 1.6 per cent in November

According to Statistics Finland, working day adjusted turnover in industry (TOL BCD) decreased in November by 1.6 per cent year-on-year. Among the main industries, turnover decreased most in the chemical industry, where it was 17.1 per cent lower than one year earlier. Seasonally adjusted turnover in industry (TOL BCD) grew by 1.7 per cent compared with October.

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

The turnover of electricity, gas, steam and air conditioning supply declined in November by 12.1 per cent and that of the forest industry by 6.1 per cent from one year back. In the food industry, turnover was 4.1 per cent lower than one year previously. The growth in turnover was strongest in the electrical and electronics industry, where it amounted to 17.5 per cent from one year ago. In mining and quarrying, turnover grew by 7.9 per cent and in the metal industry by 5.5 per cent from the previous year. The turnover of the textile, clothing and leather industry was 2.8 per cent bigger than one year ago.

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

Export turnover and domestic turnover decreased in October for most of the main industries

Export turnover decreased most in October in the textile, clothing and leather industry, by 11.3 per cent year-on-year. In mining and quarrying, export turnover decreased by 9.4 per cent and in the forest industry by 7.3 per cent from the previous year. Export turnover in the chemical industry was 4.8 per cent lower and in the food industry 2.3 per cent lower than one year ago. Export turnover grew in the electronic and electrical industry, by 15.0 per cent, and in the metal industry, by 2.1 per cent.

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

Domestic turnover decreased in October strongest in the chemical industry, by 26.4 per cent, and in the forest industry, by 10.8 per cent from one year ago. The domestic turnover of the textile, clothing and leather industry decreased by 2.7 per cent and that of the metal industry by 2.2 per cent. The domestic turnover of the food industry also decreased slightly from one year ago. Domestic turnover grew in mining and quarrying, by 16.6 per cent, and in the electrical and electronics industry, by 8.0 per cent from one year back.

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

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

Head of Department in charge: Katri Kaaja

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Appendix tables

Appendix table 1. Annual change of working-day adjusted turnover in industries of manufacturing, % (TOL 2008) (15.1.2021)

Figures

Appendix figure 1. Change from the previous month in seasonally adjusted turnover in manufacturing (BCD), % (TOL 2008) (15.1.2021)

Revisions in these statistics

Revisions in these statistics (15.1.2021)

Updated 15.1.2021

Referencing instructions:

Official Statistics of Finland (OSF): Index of turnover in industry [e-publication].
ISSN=1798-596X. November 2020. Helsinki: Statistics Finland [referred: 29.12.2024].
Access method: http://www.stat.fi/til/tlv/2020/11/tlv_2020_11_2021-01-15_tie_001_en.html