Turnover in industry grew by 20.6 per cent in November

According to Statistics Finland, working day adjusted turnover in industry (TOL BCD) increased in November by 20.6 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. Among the main industries, turnover grew strongest in electricity, gas, steam and air conditioning supply, by 54.1 per cent from one year ago. The growth in the industry was in part affected by risen prices of electricity. Seasonally adjusted turnover in industry (TOL BCD) grew in November by 3.1 per cent compared with October.

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

Working day adjusted turnover in the chemical industry increased by 42.8 per cent and in the forest industry by 26.5 per cent in November compared with the year before. Turnover in mining and quarrying was 22.4 per cent higher and turnover in the metal industry 10.6 per cent higher than one year earlier. The textile, clothing and leather industry went up by 8.9 per cent and the food industry by 5.9 per cent. Turnover decreased only in the electrical and electronics industry, by 13.9 per cent from twelve months earlier.

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

Export turnover grew in November in nearly all main industries

Export turnover grew most in mining and quarrying, by 47.3 per cent, and in the chemical industry, by 43.2 per cent from the previous year. Export turnover in the forest industry was 30.8 per cent higher and in the textile, clothing and leather industry 22.8 per cent higher than one year ago. Growth was also recorded in the metal industry, up by 6.2 per cent and in the food industry, by 0.7 per cent. Export turnover decreased only in the electrical and electronics industry, by 17.8 per cent from twelve months earlier.

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

Domestic turnover grew in November in all main industries. Turnover grew most in the chemical industry, by 41.6 per cent from one year earlier. Domestic turnover in the metal industry grew by 21.7 per cent and in the electrical and electronics industry by 21.4 per cent. Domestic turnover in the forest industry was 17.6 per cent higher and in the food industry 8.3 per cent higher than one year earlier. Domestic turnover in mining and quarrying increased by 6.5 per cent.

Trend series of turnover, export turnover and domestic turnover in manufacturing (BC), 1/2007 to 11/2021, % (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, November, 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) (14.1.2022)

Figures

Appendix figure 1. Change from the previous month in seasonally adjusted turnover in manufacturing (BCD), % (TOL 2008) (14.1.2022)

Revisions in these statistics

Revisions in these statistics (14.1.2022)

Updated 14.1.2022

Referencing instructions:

Official Statistics of Finland (OSF): Index of turnover in industry [e-publication].
ISSN=1798-596X. November 2021. Helsinki: Statistics Finland [referred: 20.4.2024].
Access method: http://www.stat.fi/til/tlv/2021/11/tlv_2021_11_2022-01-14_tie_001_en.html