Turnover in industry increased by 17.0 per cent in October

According to Statistics Finland, working day adjusted turnover in industry (TOL BCD) increased in October by 17.0 per cent year-on-year. Turnover grew in almost all main industries. The development was partly due to the state of emergency caused by the coronavirus one year earlier. Turnover in the chemical industry increased most among the main industries, by 38.3 per cent year-on-year. Seasonally adjusted turnover in industry (TOL BCD) decreased by 0.1 per cent in October compared with September.

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

Working day adjusted turnover in electricity, gas, steam and air conditioning supply grew by 26.1 per cent in October from one year back. Turnover in the forest industry went up by 23.1 per cent and in the metal industry by 9.5 per cent. Turnover also grew in the textile, clothing and leather industry, 5.7 per cent, and in the food industry, 3.8 per cent. Turnover in the electrical and electronics industry decreased by 5.4 per cent and in mining and quarrying by 2.0 per cent.

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

Export turnover and domestic turnover growing in October in nearly all main industries

Export turnover increased in October most in the chemical industry, by 38.1 per cent from one year earlier. Export turnover in the forest industry grew by 19.5 per cent and export turnover in mining and quarrying by 18.3 per cent. Export turnover in the metal industry was 6.8 per cent higher than one year previously. Export turnover increased in the textile, clothing and leather industry by 2.9 per cent and in the food industry by 1.9 per cent. Export turnover decreased only in the electrical and electronics industry, by 8.7 per cent from twelve months earlier.

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

Domestic turnover in the chemical industry increased most among the main industries, by 38.9 per cent year-on-year. Domestic turnover grew in the forest industry by 31.6 per cent and in the metal industry by 20.2 per cent. Domestic turnover of the electrical and electronics industry increased by 8.6 per cent from one year previously. The textile, clothing and leather industry went up by 7.9 per cent and the food industry by 2.5 per cent. Domestic turnover decreased only in the industry of mining and quarrying, by 6.7 per cent from one year ago.

Trend series of turnover, export turnover and domestic turnover in manufacturing (BC), 1/2007 to 10/2021, % (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, October, Statistics Finland

Inquiries: Jussi Haavisto 029 551 3341, 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) (15.12.2021)

Figures

Appendix figure 1. Change from the previous month in seasonally adjusted turnover in manufacturing (BCD), % (TOL 2008) (15.12.2021)

Revisions in these statistics

Revisions in these statistics (15.12.2021)

Updated 15.12.2021

Referencing instructions:

Official Statistics of Finland (OSF): Index of turnover in industry [e-publication].
ISSN=1798-596X. October 2021. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/tlv/2021/10/tlv_2021_10_2021-12-15_tie_001_en.html