The latest data from Statistics Finland reveals that turnover in the industrial sector experienced a significant increase of 5.3% in March 2023 compared to the same month in the previous year. This marks a continuation of the consistent growth in turnover that has been observed since January 2021.
Among the key findings, the sector experiencing the highest growth in turnover was electricity, gas, steam, and air conditioning supply, which recorded an impressive surge of 30.4% compared to one year ago. In terms of exports, the food industry saw the most substantial increase, with export turnover growing by 8.1% from the previous year.
However, not all industries experienced positive growth in March. Turnover in mining and quarrying saw a significant decline, with a decrease of 10.1% compared to one year earlier. The forest industry also saw a decrease in turnover by 2.7%, while the metal industry witnessed a moderate increase of 3.9% compared to one year ago. The standout performer, once again, was the electricity, gas, steam, and air conditioning supply sector, which registered a remarkable growth of 30.4%.
In terms of exports, the food industry saw the most substantial increase, with export turnover growing by 8.1% from the previous year. On the other hand, the mining and quarrying sector experienced the largest decline in export turnover, with a notable decrease of 22.8% from one year ago.
When analyzing domestic turnover, the food industry exhibited the highest growth, with a significant increase of 15.0% compared to one year earlier. The forest industry also experienced growth, with domestic turnover rising by 11.0%. However, the textile industry faced a decline in domestic turnover, experiencing a decrease of 9.7% compared to the previous year.
Furthermore, seasonally adjusted data indicates a positive trend in turnover growth, as March 2023 saw a 2.7% increase in turnover compared to February. This followed a 1.4% decrease in turnover in February and a 2.1% decrease in January.
The robust growth in turnover across various industries in March reflects a positive outlook for the industrial sector in Finland. The continuous expansion of turnover highlights the resilience and adaptability of businesses, despite the challenges posed by the ongoing economic landscape.
For more detailed information on turnover in different industries and other related statistics, please refer to the official release from Statistics Finland.