Industrial output grew in December both from the previous month and from one year back

Seasonally adjusted industrial output (TOL BCD) grew by 3.1 per cent in December from the month before. According to Statistics Finland, industrial output adjusted for working days was 11.5 per cent higher in December 2021 compared to December 2020.

Trend and seasonally adjusted series of industrial output (BCD), 2007/01 to 2021/12

Seasonally adjusted change in industrial output (BCD) from previous month, %, TOL 2008

Examined by main industry, seasonally adjusted industrial output grew in December in all industries compared to November. Output increased most in electricity, gas, steam and air conditioning supply, by 9.9 per cent from the month before. In the chemical industry, output grew by 4.2 per cent and in mining and quarrying by 1.9 per cent from the month before. Output in the metal industry went up by 1.5 per cent, in the forest industry by 1.4 per cent and in the electrical and electronics industry by 0.8 per cent compared to November.

Output grew in nearly all main industries compared to one year ago. The growth was biggest in the forest industry, by 16.4 per cent, and in the metal industry, by 13.6 per cent compared to December 2020. Output in electricity, gas, steam and air conditioning supply grew by 13.5 per cent, in the electrical and electronics industry by 5.8 per cent, in the chemical industry by 5.0 per cent and in the food industry by 2.4 per cent compared to the previous year’s December. Output declined only in mining and quarrying, by 0.4 per cent compared to one year ago.

Seasonal adjusted change in industrial output by industry, 11/2021 to 12/2021, %, TOL 2008

Revised data for December 2021 will be published at 8 am on 10 March 2022 in connection with the release of industrial output data for January 2022. The revision is influenced by the estimation used in the latest release, which is based on the Tax Administration's data on self-assessed taxes used for enterprises with fewer than 50 employees. Because of the method used, seasonally adjusted figures for previous months may change even if the original figures do not become revised. The seasonally adjusted figures are also adjusted for working days.

Source: Volume Index of Industrial Output 2021, December. Statistics Finland

Inquiries: Maarit Mäkelä 029 551 3324, Kirsi-Maaria Manninen 029 551 2681, volyymi.indeksi@stat.fi

Head of Department in charge: Katri Kaaja

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Industrial output increased by 11.5 per cent year-on-year in December (10.2.2022)

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Revisions in these statistics

Revisions in these statistics (10.2.2022)

Updated 10.2.2022

Referencing instructions:

Official Statistics of Finland (OSF): Volume index of industrial output [e-publication].
ISSN=1798-9272. December 2021. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/ttvi/2021/12/ttvi_2021_12_2022-02-10_tie_001_en.html