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Published: 18 December 2017

Operating profit in manufacturing grew in 2016

Enterprises in manufacturing, construction, trade and service industries generated a total of EUR 385.1 billion in turnover in 2016. Turnover increased by EUR 6.6 billion from the previous year. Enterprises’ operating profit amounted to EUR 21.4 billion, which was EUR 5.5 billion more than in 2015. Manufacturing accounted for EUR 2.9 billion of the operating profit growth and service industry enterprises for EUR 1.7 billion. These data derive from Statistics Finland's structural business and financial statement statistics for 2016.

Enterprises’ operating profit in 2014 to 2016

Enterprises’ operating profit in 2014 to 2016

The turnover of enterprises grew in the industries of construction, trade and services. In construction, turnover amounted to EUR 2.5 billion or 8.3 per cent more than in 2015. In trade, turnover grew by EUR 1.5 billion and in service industries by EUR 4.3 billion. By contrast, turnover in manufacturing contracted further.

Turnover in all manufacturing was EUR 139 billion in 2016. One year before, turnover amounted to EUR 140.7 billion. Turnover development for the whole industry was still considerably influenced by declining turnover in the electronics industry. In the electronics industry, turnover decreased by EUR 3.4 billion from the previous year. New sales companies established in company restructurings within the forest industry boosted the industry's turnover by EUR 1.8 billion, while the turnover of actual manufacturing operations remained almost at the previous year’s level.

Operating profit amounted to EUR 7.8 billion, or almost 60 per cent more than in 2015. In the previous year, the operating result of the entire industry decreased as a result of large operating losses generated in a couple of enterprises.

Service industry enterprises generated EUR 97.7 billion in turnover in 2016. Turnover grew by 4.7 per cent from the previous year. The combined operating profit of service industries was EUR 8.7 billion.

The data are based on the Tax Administration's business taxation data. The data have been supplemented with Statistics Finland's own inquiry.

Number of personnel of enterprises turned to growth in 2016

The number of personnel of enterprises grew by around 4,800 staff-years in 2016. The combined number of personnel was 1.43 million converted into full-time employees. The number of personnel increased most in employment activities, specialised construction activities and residential care activities (industries 78, 43 and 87). The number of personnel decreased most in retail trade and in the manufacture of computer, electronic and optical products (industries 47 and 26) when primary production is excluded from the examination.

In 2016, the total number of enterprises was close on 357,000, the number contracted by less than one per cent from 2015. The number of enterprises decreased most in retail trade and in land transport and transport via pipelines (industries 47 and 49) when primary production is excluded from the examination.

The share of limited companies among enterprises grew, and their share exceeded 40 per cent in 2016. The share of own-account workers among enterprises was still highest, around 45 per cent, but the share continued declining. The shares of general and limited partnerships also decreased further.

The number of micro enterprises continued diminishing but the numbers of small and large enterprises grew a bit compared to the previous year. A micro enterprise is defined as an independent enterprise with fewer than 10 employees.

The number of enterprises belonging to a group was less than five per cent of the total number of enterprises but the share of group enterprises in the total number of personnel was over 53 per cent.

Source: Statistics Finland

Inquiries: Pirkko Nurmela 029 551 3519, Jyri Järvinen 029 551 3562,

Director in charge: Sami Saarikivi

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Revisions in these statistics

Updated 18.12.2017

Referencing instructions:

Official Statistics of Finland (OSF): Structural business and financial statement statistics [e-publication].
ISSN=2342-6233. 2016. Helsinki: Statistics Finland [referred: 5.3.2024].
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