Turnover in industry nearly on level with the year before in January

According to Statistics Finland, working day adjusted turnover in industry (TOL BCD) increased in January by 0.1 per cent year-on-year. Among the main industries, turnover grew most in electricity, gas, steam and air conditioning supply, which was 18.9 per cent up on one year ago. Turnover declined most in the chemical industry, by 5.5 per cent from one year earlier. Seasonally adjusted turnover in industry (TOL BCD) grew by 1.9 per cent in January compared with December.

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

After electricity, gas, steam and air conditioning supply, turnover grew next most in the textile, clothing and leather industry, by 7.6 per cent from one year ago. There was also growth in the electronic and electrical industry, by 7.2 per cent, and in mining and quarrying, by 5.6 per cent. In addition to the chemical industry, turnover decreased in the metal industry by 5.1 per cent, in the food industry by 2.0 per cent, and in the forest industry by 1.2 per cent.

Annual change in working day adjusted turnover in manufacturing by industry, January 2021, % (TOL 2008)

Export turnover decreased most in the food industry in January

Export turnover went down in January most in the food industry, by 6.6 per cent from one year back. Export turnover in the metal industry was 5.4 per cent lower and in the forest industry 0.8 per cent lower than one year ago. Export turnover grew most strongly in mining and quarrying, by 35.3 per cent from one year previously. Growth was also recorded in the textile, clothing and leather industry, by 8.6 per cent, and in the electronic and electrical industry, by 5.9 per cent from one year earlier. Export turnover in the chemical industry was 0.5 per cent higher than one year previously.

Annual change in working day adjusted export turnover and domestic turnover in manufacturing by industry, January 2021, % (TOL 2008)

Domestic turnover decreased in January in nearly all main industries. Growth was seen only in the domestic turnover of the textile, clothing and leather industry, which was 7.0 per cent higher than one year earlier. Domestic turnover decreased strongest in January in the chemical industry, by 14.4 per cent, and in mining and quarrying, by 13.6 per cent from one year ago. Domestic turnover decreased by 7.2 per cent in the metal industry and by 3.2 per cent in the forest industry. Domestic turnover in the food industry was 1.6 per cent lower and in the electrical and electronics industry 1.0 per cent lower than one year earlier.

Trend series of turnover, export turnover and domestic turnover in manufacturing (BC), 1/2007 to 1/2021, % (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.

The 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. Revisions to the data may be particularly significant on the more accurate industry levels of export turnover and domestic turnover.

Source: Index of turnover in industry 2021, January, 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) (15.3.2021)

Figures

Appendix figure 1. Change from the previous month in seasonally adjusted turnover in manufacturing (BCD), % (TOL 2008) (15.3.2021)

Revisions in these statistics

Revisions in these statistics (15.3.2021)

Updated 15.3.2021

Referencing instructions:

Official Statistics of Finland (OSF): Index of turnover in industry [e-publication].
ISSN=1798-596X. January 2021. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/tlv/2021/01/tlv_2021_01_2021-03-15_tie_001_en.html