HELSINKI, Finland – Statistics Finland reported a 3.2% year-on-year decline in working-day adjusted turnover in the Finnish industry sector for October 2024.

While several key industries experienced growth, others faced significant contractions. The electronic and electrical industry led the growth pack, with a 6.7% year-on-year increase. The forest industry followed closely with a 5.4% rise. Mining and quarrying and the metal industry also saw positive growth, at 4.9% and 1.7%, respectively.

On the other hand, the electricity, gas, steam, and air conditioning supply sector experienced the sharpest decline, with a 17.7% year-on-year drop. The chemical industry also contracted, with a 10.1% decrease.

Export Performance

Export turnover increased in most major industries. The forest industry saw the most significant growth, with a 17.8% year-on-year increase. Mining and quarrying and the electronic and electrical industry followed with 8.3% and 7.6% growth, respectively.

The food industry recorded a 6.2% increase in export turnover, while the metal industry saw a modest 0.6% growth. The chemical industry was the only sector to experience a decline in export turnover, with a 7.5% decrease.

Domestic Turnover

Domestic turnover also varied across industries. The electronic and electrical industry led the way with an 8.9% year-on-year increase. Mining and quarrying and the metal industry followed with 2.8% and 1.8% growth, respectively.

However, the forest industry and the chemical industry experienced significant declines in domestic turnover, at 16.7% and 15.4%, respectively.

Seasonally Adjusted Turnover

Seasonally adjusted turnover in the industry sector decreased by 0.6% in October 2024 compared to the previous month. This followed declines of 0.2% in September and 1.3% in August.

[Copyright (c) Global Economic Times. All Rights Reserved.]