Turnover in industry grew by 4.7 per cent in March

According to Statistics Finland, working day adjusted turnover in industry (TOL BCD) increased in March by 4.7 per cent year-on-year. Turnover grew in all main industries. Among the main industries, turnover increased most in the textile, clothing and leather industry, by 26.0 per cent, and in electricity, gas, steam and air conditioning supply, by 15.8 per cent year-on-year. Seasonally adjusted turnover in industry (TOL BCD) decreased by 0.2 per cent in March compared with February.

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

Turnover in mining and quarrying grew by 12.9 per cent in March from one year ago. Turnover in the electronic and electrical industry was 9.1 per cent higher and turnover in the forest industry 8.8 per cent higher than one year earlier. In addition, turnover grew in the chemical industry, 4.8 per cent, in the metal industry, 3.4 per cent, and in the food industry, 1.2 per cent from the previous year.

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

Export turnover grew in March in nearly all main industries

Export turnover grew in March in nearly all main industries. The growth in export turnover was strongest in the textile, clothing and leather industry, 37.7 per cent, and in mining and quarrying, 36.2 per cent from the previous year. Export turnover in the forest industry was 12.4 per cent higher, in the electronic and electrical industry 11.2 per cent higher and in the chemical industry 8.4 per cent higher than in the previous year. Export turnover in the metal industry increased by 1.2 per cent year-on-year. Export turnover decreased only in the food industry, by 1.1 per cent from the previous year.

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

Domestic turnover grew in most main industries in March. Domestic turnover grew most in the textile, clothing and leather industry, by 17.4 per cent from one year ago. In the metal industry, domestic turnover was 6.1 per cent higher and in the electronic and electrical industry 4.6 per cent higher than one year previously. Domestic turnover decreased only in mining and quarrying, by 4.0 per cent, and in the chemical industry, by 1.9 per cent year-on-year.

Trend series of turnover, export turnover and domestic turnover in manufacturing (BC), 1/2007 to 3/2021, % (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, March, 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) (12.5.2021)

Figures

Appendix figure 1. Change from the previous month in seasonally adjusted turnover in manufacturing (BCD), % (TOL 2008) (12.5.2021)

Revisions in these statistics

Revisions in these statistics (12.5.2021)

Updated 12.5.2021

Referencing instructions:

Official Statistics of Finland (OSF): Index of turnover in industry [e-publication].
ISSN=1798-596X. March 2021. Helsinki: Statistics Finland [referred: 26.11.2024].
Access method: http://www.stat.fi/til/tlv/2021/03/tlv_2021_03_2021-05-12_tie_001_en.html