Turnover in manufacturing grew by 11.4 per cent in April

According to Statistics Finland, working day adjusted turnover in industry (TOL BCD) increased in April by 11.4 per cent year-on-year. Turnover grew in all main industries. The development was partly due to the exceptional situation caused by the coronavirus one year earlier. Among main industries, turnover growth was strongest in the textile, clothing and leather industry, up by 24.5 per cent from one year ago. Seasonally adjusted turnover in manufacturing (TOL BCD) grew by 2.1 per cent in April compared with March.

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

Turnover in mining and quarrying was 15.5 per cent higher in April than one year earlier. The turnover of the chemical industry decreased by 14.7 per cent and that of electricity, gas, steam and air conditioning supply by 13.2 per cent. The metal industry grew by 12.7 per cent, the forest industry by 11.9 per cent and the electrical and electronics industry by 11.0 per cent. Turnover in the food industry increased by 3.7 per cent year-on-year.

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

Export turnover growing in all main industries in April

Export turnover increased in all main industries in April. Export turnover grew most in mining and quarrying, by 81.8 per cent and in the textile, clothing and leather industry, by 31.9 per cent from one year back. Export turnover grew in the chemical industry by 14.6 per cent, in the metal industry by 13.7 per cent and in the forest industry by 13.5 per cent. In the electrical and electronics industry, export turnover was 11.6 per cent higher and in the food industry 3.2 per cent higher than one year earlier.

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

Domestic turnover increased in April in nearly all main industries. Most growth was recorded in the textile, clothing and leather industry, 20.2 per cent, and in the chemical industry, 14.8 per cent. Domestic turnover grew in the metal industry by 10.1 per cent and in the forest industry by 8.9 per cent from one year ago. The domestic turnover of the electrical and electronics industry increased by 7.7 per cent and that of the food industry by 4.6 per cent from one year previously. Domestic turnover decreased only in mining and quarrying and was 3.9 per cent lower than twelve months back.

Trend series of turnover, export turnover and domestic turnover in manufacturing (BC), 1/2007 to 4/2021, % (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, April, 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) (15.6.2021)

Figures

Appendix figure 1. Change from the previous month in seasonally adjusted turnover in manufacturing (BCD), % (TOL 2008) (15.6.2021)

Revisions in these statistics

Revisions in these statistics (15.6.2021)

Updated 15.6.2021

Referencing instructions:

Official Statistics of Finland (OSF): Index of turnover in industry [e-publication].
ISSN=1798-596X. April 2021. Helsinki: Statistics Finland [referred: 26.11.2024].
Access method: http://www.stat.fi/til/tlv/2021/04/tlv_2021_04_2021-06-15_tie_001_en.html