The Finnish technology industry:
- Accounts for 50% of Finnish exports, 75% of private R&D investment, and employs 30% of Finland's workforce.
- Is comprised of five subsectors: electronics/electrotechnical, metals, mechanical engineering, consulting engineering, and information technology.
- Saw turnover in Finland slightly lower in 2015 compared to 2014, totaling EUR 66 billion. New orders in early 2016 were flat compared to early 2015 but down 16% from the previous quarter. Order books in March 2016 were up 17% year-over-year but down 2% from December 2015.
Finnish technology industry, August 2016TechFinland
The technology industry is a major sector of the Finnish economy, comprising electronics, mechanical engineering, metals, consulting engineering, and IT. It accounts for 50% of exports, 75% of private R&D investment, and employs 280,000 directly and 700,000 total. In 2015 the sector's turnover was €68.2 billion, slightly up from 2014 but below its pre-crisis level of €86 billion in 2008. New orders in the second quarter of 2016 were 24% lower than the previous year and order books were 4% higher than a year ago but 6% lower than the previous quarter. The outlook for the sector's turnover remains flat to slightly lower for the rest of 2016. Since 2008, employment has
Finnish technology industry, October 2016TechFinland
The document summarizes the state of Finland's technology industry in October 2016. It finds that while the industry's turnover increased slightly in 2015 compared to 2014, it remains below pre-crisis levels of 2008. New orders in the second quarter of 2016 were down 24% year-over-year and 3% from the prior quarter. Order books were up 4% year-over-year but down 6% from the prior quarter. The outlook for the autumn of 2016 is for turnover to remain at or slightly below the same period in 2015. The industry has seen employment shrink by 40,000 since 2008 to around 286,000 workers in mid-2016. Global economic growth is slowing in China and Brazil/Russia remain in recession
Finnish technology industry, January 2017TechFinland
The document provides an overview of the Finnish technology industry. It notes that the industry is comprised of five sub-sectors: electronics and electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. It provides key statistics on turnover, exports, R&D investment, and employment for each sub-sector and the industry overall. The technology industry is Finland's largest export sector and accounts for over 50% of total Finnish exports and 280,000 direct jobs. New order values and order books are also presented for each sub-sector and the industry overall.
Finnish technology industry, April 2017TechFinland
The document discusses the technology industry in Finland, including:
- The industry is comprised of five sub-sectors: electronics/electrotechnical, metals, mechanical engineering, information technology, and consulting engineering.
- It is the largest export sector in Finland, accounting for 50% of exports and 70% of private R&D investment.
- Charts show trends in turnover, new orders, exports, personnel, and other metrics for both the overall technology industry and its sub-sectors from 2008-2016. The industry continues to be an important part of the Finnish economy.
The document discusses the Finnish technology industry, which comprises five sub-sectors: electronics and electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. It provides data on turnover, exports, personnel, and order books for each sub-sector. The technology industry is Finland's largest export sector and drives much of the country's economic activity and research investment. While turnover has grown slightly in recent years, new orders declined in early 2017 compared to late 2016.
Finnish technology industry, March 2017TechFinland
The document summarizes the technology industry in Finland, which is comprised of five sub-sectors: electronics and electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. It provides data on turnover, exports, personnel, and order books for each sub-sector from 2008-2016. The technology industry is Finland's largest export sector and drives much of the country's economic activity and research investment. The outlook at the start of 2017 was positive, with new order values increasing compared to late 2016.
Finnish technology industry, September 2017TechFinland
The document discusses the Finnish technology industry, which comprises five sub-sectors: electronics and electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. It provides statistics on turnover, exports, personnel, and order values for each sub-sector. The technology industry is Finland's largest export sector and drives much of the country's economic activity and research investment. The outlook for the industry in autumn 2017 is positive, with order values and turnover expected to be higher than the previous year.
Finnish technology industry, October 2017TechFinland
The document discusses the Finnish technology industry, which comprises five sub-sectors: electronics and electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. It provides statistics on turnover, exports, personnel, and order values for each sub-sector. The technology industry is Finland's largest export sector and drives much of the country's economic activity and research investment. The outlook for the industry's turnover in autumn 2017 is expected to be higher than the previous year.
Finnish technology industry, August 2016TechFinland
The technology industry is a major sector of the Finnish economy, comprising electronics, mechanical engineering, metals, consulting engineering, and IT. It accounts for 50% of exports, 75% of private R&D investment, and employs 280,000 directly and 700,000 total. In 2015 the sector's turnover was €68.2 billion, slightly up from 2014 but below its pre-crisis level of €86 billion in 2008. New orders in the second quarter of 2016 were 24% lower than the previous year and order books were 4% higher than a year ago but 6% lower than the previous quarter. The outlook for the sector's turnover remains flat to slightly lower for the rest of 2016. Since 2008, employment has
Finnish technology industry, October 2016TechFinland
The document summarizes the state of Finland's technology industry in October 2016. It finds that while the industry's turnover increased slightly in 2015 compared to 2014, it remains below pre-crisis levels of 2008. New orders in the second quarter of 2016 were down 24% year-over-year and 3% from the prior quarter. Order books were up 4% year-over-year but down 6% from the prior quarter. The outlook for the autumn of 2016 is for turnover to remain at or slightly below the same period in 2015. The industry has seen employment shrink by 40,000 since 2008 to around 286,000 workers in mid-2016. Global economic growth is slowing in China and Brazil/Russia remain in recession
Finnish technology industry, January 2017TechFinland
The document provides an overview of the Finnish technology industry. It notes that the industry is comprised of five sub-sectors: electronics and electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. It provides key statistics on turnover, exports, R&D investment, and employment for each sub-sector and the industry overall. The technology industry is Finland's largest export sector and accounts for over 50% of total Finnish exports and 280,000 direct jobs. New order values and order books are also presented for each sub-sector and the industry overall.
Finnish technology industry, April 2017TechFinland
The document discusses the technology industry in Finland, including:
- The industry is comprised of five sub-sectors: electronics/electrotechnical, metals, mechanical engineering, information technology, and consulting engineering.
- It is the largest export sector in Finland, accounting for 50% of exports and 70% of private R&D investment.
- Charts show trends in turnover, new orders, exports, personnel, and other metrics for both the overall technology industry and its sub-sectors from 2008-2016. The industry continues to be an important part of the Finnish economy.
The document discusses the Finnish technology industry, which comprises five sub-sectors: electronics and electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. It provides data on turnover, exports, personnel, and order books for each sub-sector. The technology industry is Finland's largest export sector and drives much of the country's economic activity and research investment. While turnover has grown slightly in recent years, new orders declined in early 2017 compared to late 2016.
Finnish technology industry, March 2017TechFinland
The document summarizes the technology industry in Finland, which is comprised of five sub-sectors: electronics and electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. It provides data on turnover, exports, personnel, and order books for each sub-sector from 2008-2016. The technology industry is Finland's largest export sector and drives much of the country's economic activity and research investment. The outlook at the start of 2017 was positive, with new order values increasing compared to late 2016.
Finnish technology industry, September 2017TechFinland
The document discusses the Finnish technology industry, which comprises five sub-sectors: electronics and electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. It provides statistics on turnover, exports, personnel, and order values for each sub-sector. The technology industry is Finland's largest export sector and drives much of the country's economic activity and research investment. The outlook for the industry in autumn 2017 is positive, with order values and turnover expected to be higher than the previous year.
Finnish technology industry, October 2017TechFinland
The document discusses the Finnish technology industry, which comprises five sub-sectors: electronics and electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. It provides statistics on turnover, exports, personnel, and order values for each sub-sector. The technology industry is Finland's largest export sector and drives much of the country's economic activity and research investment. The outlook for the industry's turnover in autumn 2017 is expected to be higher than the previous year.
This document discusses the technology industry in Finland, including:
- The industry is comprised of five sub-sectors: electronics/electrotechnical, metals, mechanical engineering, information technology, and consulting engineering.
- It generates over €55 billion in value added annually, accounting for over 28% of Finland's GDP. It employs nearly 650,000 people directly and indirectly.
- The industry is Finland's largest export sector, accounting for about 50% of total exports. Its exports were over €30 billion in 2020.
- Recent economic data on orders, revenues and employment in the industry sub-sectors is presented, with some mixed performance in early 2021 compared to 2020 levels. The impacts of the
Finnish technology industry, December 2017TechFinland
The document summarizes key statistics about Finland's technology industry from 2012-2017. It is comprised of five sub-sectors: electronics/electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. Some of the key points made in the document are:
- The technology industry is Finland's largest export sector, accounting for 50% of total exports.
- It employs over 300,000 people directly and 700,000 total, representing about 30% of Finland's labor force.
- The industry invests approximately 5 billion euros annually in Finland and contributes 70% of private sector R&D investment.
- The technology, forest, and chemical industries combined provide 80% of Finland
The document discusses the technology industry in Finland, including:
1) The technology industry is comprised of five sub-sectors: electronics/electrotechnical, metals, mechanical engineering, information technology, and consulting engineering.
2) The technology industry is a major driver of the Finnish economy, generating over 28% of GDP, nearly 650,000 jobs, and 18 billion euros in annual tax revenue.
3) New order values and order books in early 2019 were up compared to early 2018 for most technology sub-sectors, indicating continued growth in the industry.
Lithuania has the largest economy in the Baltic region, accounting for 47% of the region's GDP. It grew at an average of 15% over the past 5 years, the fastest in the Baltic states. Exports have been the main driver of economic growth, though domestic consumption is now taking a larger role. Manufacturing makes up a significant portion of the economy and over 60% of manufactured goods are exported. The EU accounts for over 70% of Lithuanian exports, with key trade partners being Germany, Sweden, and Poland. Unemployment has declined to the EU average level of around 8%.
Finnish technology industry, March 2016TechFinland
The Finnish technology industry is comprised of five sub-sectors: electronics/electrotechnical, metals, mechanical engineering, consulting engineering, and information technology. It accounts for 50% of Finnish exports, 75% of private R&D investment, and employs about 30% of Finland's workforce. In 2015, the industry's turnover remained the same as 2014 at €67.7 billion, lower than its pre-crisis level. New orders in the last quarter of 2015 were 8% lower than the previous year but 2% higher than the prior quarter, while year-end order books were up 15% year-over-year and 3% over the previous quarter.
Finnish technology industry, December 2021TechFinland
The document discusses the Finnish technology industry. It notes that the industry is comprised of five sub-sectors: electronics and electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. It provides statistics on the turnover, exports, employment, and economic impact of the technology industry in Finland. The industry generates over half of Finland's exports and accounts for over 25% of employment in the country.
Finnish technology industry and economy: September 2015TechFinland
The Finnish technology industry is comprised of five sub-sectors: electronics and electrotechnical, metals, mechanical engineering, consulting engineering, and information technology. It accounts for 50% of Finnish exports, 75% of private R&D investment, and employs over 280,000 people directly and 700,000 total. While the industry has struggled since the financial crisis, new orders increased 14% in Q2 2015 compared to the previous year and order books were up 22% in June 2015, indicating growth in the sector.
Finnish technologyindustry in numbers (October 2015)TechFinland
The Finnish technology industry is comprised of five sub-sectors: electronics and electrotechnical, metals, mechanical engineering, consulting engineering, and information technology. It accounts for 50% of Finnish exports, 75% of private R&D investment, and employs over 280,000 people directly and 700,000 total. While the industry has struggled since the financial crisis, new orders increased 14% in Q2 2015 compared to the previous year and order books were up 22% in June 2015, indicating growth in the sector.
Finnish technology industry, November 2019TechFinland
The document discusses the technology industry in Finland, which comprises five sub-sectors: electronics and electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. It provides statistics on the industry's turnover, exports, employment, and economic impact. The technology industry is Finland's largest export sector, accounting for over 50% of exports. It generates significant value added to the economy, tax revenue, jobs, and research and development investment. Recent data shows growth in orders and order books for some sub-sectors, while others have seen declines.
Finnish technology industry, February 2018TechFinland
The Finnish technology industry contributes significantly to Finland's economy, accounting for over 50% of exports, 28% of GDP, and over 650,000 jobs. It is comprised of five subsectors: electronics/electrotechnical, metals, mechanical engineering, IT, and consulting engineering. While the technology industry has experienced growth in recent years, forecasts project that annual GDP growth above 3% will be needed to close Finland's GDP gap, and some technology industry companies have reported weaker incoming order development.
The technology industry in Finland comprises five sub-sectors: mechanical engineering, electronics and electrotechnical industry, information technology, metals industry, and consulting engineering. It accounts for 55% of total Finnish exports, 80% of private sector R&D investment, and employs almost 290,000 directly and 720,000 in total. While the industry struggled in recent years, signs indicate orders and employment are increasing in 2014 for some sub-sectors like mechanical engineering and consulting engineering. Overall, the technology industry remains one of the most important sectors for Finland's economy.
Finnish technology industry, February 2016TechFinland
The technology industry represents a significant portion of the Finnish economy, accounting for 50% of exports, 75% of private R&D investment, and employing 30% of the labor force. It is comprised of five subsectors: electronics/electrotechnical, metals, mechanical engineering, consulting engineering, and information technology. While the industry has experienced structural changes and uneven development between companies, overall turnover increased slightly in 2015 and order books grew year-over-year as of December 2015.
Finnish Technology Industry, December 2020TechFinland
The document discusses the Finnish technology industry, which is comprised of five sub-sectors: electronics and electrotechnical industry, metals industry, mechanical engineering, information technology, and consulting engineering. It provides data on the turnover, personnel, exports and economic impact of the technology industry in Finland for 2019. The technology industry generates over 18 billion euros in tax revenue annually and is the largest export sector in Finland, accounting for about 50% of total exports.
Finnish technology industry, April 2018TechFinland
The document discusses the Finnish technology industry and economic outlook. It contains the following key points:
1) Overcoming Finland's GDP gap will require annual growth of 3.0% from 2019-2023, compared to IMF forecasts of 1.6-1.7% for the euro area.
2) The Finnish technology industry is comprised of five sub-sectors: electronics/electrotechnical, metals, mechanical engineering, information technology, and consulting engineering.
3) The technology industry generates over 650,000 jobs in Finland, accounts for over 50% of exports, and contributes €57 billion to GDP.
Finnish techcnology industry: Situation and Outlook (June 2014) TechFinland
The document discusses the technology industry in Finland, which comprises five sub-sectors: mechanical engineering, electronics and electrotechnical industry, information technology, metals industry, and consulting engineering. It provides an overview of the sectors' turnover, exports, employment levels, and order book trends in recent years. The technology industry is a major part of the Finnish economy, accounting for 55% of exports, 80% of private R&D investment, and employing almost 290,000 people directly.
The document discusses the Finnish technology industry, which comprises five sub-sectors: electronics/electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. It provides statistics on turnover, exports, employment, new orders, and order books for each sub-sector and the overall technology industry in Finland for 2017-2018. The industry is a major contributor to the Finnish economy, accounting for over 50% of exports and 70% of private R&D investment.
The Finnish technology industry is comprised of five main sub-sectors: electronics/electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. It represents over 30% of Finland's workforce and is the largest export sector, responsible for 51% of total Finnish exports. Recent data shows growth in new orders and order books across several technology sub-sectors in the first quarter of 2018 compared to the same period last year.
The document discusses the Finnish technology industry and economic outlook. It contains the following key points:
1) The technology industry is Finland's largest export sector and comprises five sub-sectors: electronics/electrotechnical, metals, mechanical engineering, IT, and consulting engineering.
2) The technology industry generates over 28% of Finland's GDP, nearly 650,000 jobs, and 18 billion euros in annual tax revenue for the country.
3) For GDP growth of 3% annually through 2023, Finland must overcome projections that place growth at 1.4-1.7% during that period according to IMF forecasts.
Making regional value chains happen in the Western BalkansOECDglobal
1. Food, beverages and tobacco - The Western Balkan economies show complementarities along the value chain from first stage production to final processing and exports. This sector also has high export growth potential and regional cooperation opportunities.
2. Metals - Basic metals is a major exporting sector with competitive advantages. Metals production and processing presents opportunities for regional integration in intermediate supply chains.
3. Machinery and equipment - Exports have grown rapidly and the sector benefits from regional specialization. Deeper integration could help upgrade machinery value chains in the region.
Finnish technology industry, September 2018TechFinland
The document provides an economic outlook for the technology industry in Finland from September 2018. It finds that Finland will need annual GDP growth of 3.0% through 2023 to overcome its current GDP gap according to IMF forecasts. It also details the five subsectors that comprise the technology industry in Finland, provides statistics on exports, revenues, personnel, and order values for these subsectors. It concludes that personnel in the Finnish technology industry has grown by 10,000 in 2018.
Finnish technology industry statistics, August 2015TechFinland
The Finnish technology industry is comprised of five sub-sectors: electronics and electrotechnical, metals, mechanical engineering, consulting engineering, and information technology. It accounts for 50% of Finnish exports, 75% of private R&D investment, and employs over 280,000 people directly and 700,000 total. While the industry has struggled since the financial crisis, new orders increased 14% in Q2 2015 compared to the previous year and order books were up 22% in June 2015, indicating growth in the sector.
Finnish economy and technology industry, June 2015TechFinland
The Finnish technology industry is comprised of five sub-sectors: electronics/electrotechnical, metals, mechanical engineering, consulting engineering, and information technology. It accounts for 50% of Finnish exports, 75% of private R&D investment, and employs 30% of Finland's workforce. While the industry saw growth in 2014, new orders in early 2015 were down 9% YoY and turnover has not returned to pre-crisis levels, indicating Finland is still undergoing structural economic changes.
This document discusses the technology industry in Finland, including:
- The industry is comprised of five sub-sectors: electronics/electrotechnical, metals, mechanical engineering, information technology, and consulting engineering.
- It generates over €55 billion in value added annually, accounting for over 28% of Finland's GDP. It employs nearly 650,000 people directly and indirectly.
- The industry is Finland's largest export sector, accounting for about 50% of total exports. Its exports were over €30 billion in 2020.
- Recent economic data on orders, revenues and employment in the industry sub-sectors is presented, with some mixed performance in early 2021 compared to 2020 levels. The impacts of the
Finnish technology industry, December 2017TechFinland
The document summarizes key statistics about Finland's technology industry from 2012-2017. It is comprised of five sub-sectors: electronics/electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. Some of the key points made in the document are:
- The technology industry is Finland's largest export sector, accounting for 50% of total exports.
- It employs over 300,000 people directly and 700,000 total, representing about 30% of Finland's labor force.
- The industry invests approximately 5 billion euros annually in Finland and contributes 70% of private sector R&D investment.
- The technology, forest, and chemical industries combined provide 80% of Finland
The document discusses the technology industry in Finland, including:
1) The technology industry is comprised of five sub-sectors: electronics/electrotechnical, metals, mechanical engineering, information technology, and consulting engineering.
2) The technology industry is a major driver of the Finnish economy, generating over 28% of GDP, nearly 650,000 jobs, and 18 billion euros in annual tax revenue.
3) New order values and order books in early 2019 were up compared to early 2018 for most technology sub-sectors, indicating continued growth in the industry.
Lithuania has the largest economy in the Baltic region, accounting for 47% of the region's GDP. It grew at an average of 15% over the past 5 years, the fastest in the Baltic states. Exports have been the main driver of economic growth, though domestic consumption is now taking a larger role. Manufacturing makes up a significant portion of the economy and over 60% of manufactured goods are exported. The EU accounts for over 70% of Lithuanian exports, with key trade partners being Germany, Sweden, and Poland. Unemployment has declined to the EU average level of around 8%.
Finnish technology industry, March 2016TechFinland
The Finnish technology industry is comprised of five sub-sectors: electronics/electrotechnical, metals, mechanical engineering, consulting engineering, and information technology. It accounts for 50% of Finnish exports, 75% of private R&D investment, and employs about 30% of Finland's workforce. In 2015, the industry's turnover remained the same as 2014 at €67.7 billion, lower than its pre-crisis level. New orders in the last quarter of 2015 were 8% lower than the previous year but 2% higher than the prior quarter, while year-end order books were up 15% year-over-year and 3% over the previous quarter.
Finnish technology industry, December 2021TechFinland
The document discusses the Finnish technology industry. It notes that the industry is comprised of five sub-sectors: electronics and electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. It provides statistics on the turnover, exports, employment, and economic impact of the technology industry in Finland. The industry generates over half of Finland's exports and accounts for over 25% of employment in the country.
Finnish technology industry and economy: September 2015TechFinland
The Finnish technology industry is comprised of five sub-sectors: electronics and electrotechnical, metals, mechanical engineering, consulting engineering, and information technology. It accounts for 50% of Finnish exports, 75% of private R&D investment, and employs over 280,000 people directly and 700,000 total. While the industry has struggled since the financial crisis, new orders increased 14% in Q2 2015 compared to the previous year and order books were up 22% in June 2015, indicating growth in the sector.
Finnish technologyindustry in numbers (October 2015)TechFinland
The Finnish technology industry is comprised of five sub-sectors: electronics and electrotechnical, metals, mechanical engineering, consulting engineering, and information technology. It accounts for 50% of Finnish exports, 75% of private R&D investment, and employs over 280,000 people directly and 700,000 total. While the industry has struggled since the financial crisis, new orders increased 14% in Q2 2015 compared to the previous year and order books were up 22% in June 2015, indicating growth in the sector.
Finnish technology industry, November 2019TechFinland
The document discusses the technology industry in Finland, which comprises five sub-sectors: electronics and electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. It provides statistics on the industry's turnover, exports, employment, and economic impact. The technology industry is Finland's largest export sector, accounting for over 50% of exports. It generates significant value added to the economy, tax revenue, jobs, and research and development investment. Recent data shows growth in orders and order books for some sub-sectors, while others have seen declines.
Finnish technology industry, February 2018TechFinland
The Finnish technology industry contributes significantly to Finland's economy, accounting for over 50% of exports, 28% of GDP, and over 650,000 jobs. It is comprised of five subsectors: electronics/electrotechnical, metals, mechanical engineering, IT, and consulting engineering. While the technology industry has experienced growth in recent years, forecasts project that annual GDP growth above 3% will be needed to close Finland's GDP gap, and some technology industry companies have reported weaker incoming order development.
The technology industry in Finland comprises five sub-sectors: mechanical engineering, electronics and electrotechnical industry, information technology, metals industry, and consulting engineering. It accounts for 55% of total Finnish exports, 80% of private sector R&D investment, and employs almost 290,000 directly and 720,000 in total. While the industry struggled in recent years, signs indicate orders and employment are increasing in 2014 for some sub-sectors like mechanical engineering and consulting engineering. Overall, the technology industry remains one of the most important sectors for Finland's economy.
Finnish technology industry, February 2016TechFinland
The technology industry represents a significant portion of the Finnish economy, accounting for 50% of exports, 75% of private R&D investment, and employing 30% of the labor force. It is comprised of five subsectors: electronics/electrotechnical, metals, mechanical engineering, consulting engineering, and information technology. While the industry has experienced structural changes and uneven development between companies, overall turnover increased slightly in 2015 and order books grew year-over-year as of December 2015.
Finnish Technology Industry, December 2020TechFinland
The document discusses the Finnish technology industry, which is comprised of five sub-sectors: electronics and electrotechnical industry, metals industry, mechanical engineering, information technology, and consulting engineering. It provides data on the turnover, personnel, exports and economic impact of the technology industry in Finland for 2019. The technology industry generates over 18 billion euros in tax revenue annually and is the largest export sector in Finland, accounting for about 50% of total exports.
Finnish technology industry, April 2018TechFinland
The document discusses the Finnish technology industry and economic outlook. It contains the following key points:
1) Overcoming Finland's GDP gap will require annual growth of 3.0% from 2019-2023, compared to IMF forecasts of 1.6-1.7% for the euro area.
2) The Finnish technology industry is comprised of five sub-sectors: electronics/electrotechnical, metals, mechanical engineering, information technology, and consulting engineering.
3) The technology industry generates over 650,000 jobs in Finland, accounts for over 50% of exports, and contributes €57 billion to GDP.
Finnish techcnology industry: Situation and Outlook (June 2014) TechFinland
The document discusses the technology industry in Finland, which comprises five sub-sectors: mechanical engineering, electronics and electrotechnical industry, information technology, metals industry, and consulting engineering. It provides an overview of the sectors' turnover, exports, employment levels, and order book trends in recent years. The technology industry is a major part of the Finnish economy, accounting for 55% of exports, 80% of private R&D investment, and employing almost 290,000 people directly.
The document discusses the Finnish technology industry, which comprises five sub-sectors: electronics/electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. It provides statistics on turnover, exports, employment, new orders, and order books for each sub-sector and the overall technology industry in Finland for 2017-2018. The industry is a major contributor to the Finnish economy, accounting for over 50% of exports and 70% of private R&D investment.
The Finnish technology industry is comprised of five main sub-sectors: electronics/electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. It represents over 30% of Finland's workforce and is the largest export sector, responsible for 51% of total Finnish exports. Recent data shows growth in new orders and order books across several technology sub-sectors in the first quarter of 2018 compared to the same period last year.
The document discusses the Finnish technology industry and economic outlook. It contains the following key points:
1) The technology industry is Finland's largest export sector and comprises five sub-sectors: electronics/electrotechnical, metals, mechanical engineering, IT, and consulting engineering.
2) The technology industry generates over 28% of Finland's GDP, nearly 650,000 jobs, and 18 billion euros in annual tax revenue for the country.
3) For GDP growth of 3% annually through 2023, Finland must overcome projections that place growth at 1.4-1.7% during that period according to IMF forecasts.
Making regional value chains happen in the Western BalkansOECDglobal
1. Food, beverages and tobacco - The Western Balkan economies show complementarities along the value chain from first stage production to final processing and exports. This sector also has high export growth potential and regional cooperation opportunities.
2. Metals - Basic metals is a major exporting sector with competitive advantages. Metals production and processing presents opportunities for regional integration in intermediate supply chains.
3. Machinery and equipment - Exports have grown rapidly and the sector benefits from regional specialization. Deeper integration could help upgrade machinery value chains in the region.
Finnish technology industry, September 2018TechFinland
The document provides an economic outlook for the technology industry in Finland from September 2018. It finds that Finland will need annual GDP growth of 3.0% through 2023 to overcome its current GDP gap according to IMF forecasts. It also details the five subsectors that comprise the technology industry in Finland, provides statistics on exports, revenues, personnel, and order values for these subsectors. It concludes that personnel in the Finnish technology industry has grown by 10,000 in 2018.
Finnish technology industry statistics, August 2015TechFinland
The Finnish technology industry is comprised of five sub-sectors: electronics and electrotechnical, metals, mechanical engineering, consulting engineering, and information technology. It accounts for 50% of Finnish exports, 75% of private R&D investment, and employs over 280,000 people directly and 700,000 total. While the industry has struggled since the financial crisis, new orders increased 14% in Q2 2015 compared to the previous year and order books were up 22% in June 2015, indicating growth in the sector.
Finnish economy and technology industry, June 2015TechFinland
The Finnish technology industry is comprised of five sub-sectors: electronics/electrotechnical, metals, mechanical engineering, consulting engineering, and information technology. It accounts for 50% of Finnish exports, 75% of private R&D investment, and employs 30% of Finland's workforce. While the industry saw growth in 2014, new orders in early 2015 were down 9% YoY and turnover has not returned to pre-crisis levels, indicating Finland is still undergoing structural economic changes.
Finnish Technology Industry, January 2016TechFinland
The document provides an overview of the technology industry in Finland, which comprises five sub-sectors: electronics/electrotechnical, metals, mechanical engineering, consulting engineering, and information technology. It notes that the technology industry accounts for 50% of Finnish exports, 75% of private R&D investment, and employs over 280,000 people directly and 700,000 total. Charts show trends in the industry's turnover, exports, new orders, order books, and employment from 2005-2015. The number of employees in the industry is projected to decline in the coming years due to retirements.
Finnish technology industry in numbers, December 2015TechFinland
The Finnish technology industry is comprised of five sub-sectors: electronics/electrotechnical, mechanical engineering, metals, consulting engineering, and information technology. It accounts for 50% of Finnish exports, 75% of private R&D investment, and employs over 280,000 people directly and 700,000 total. The industry has seen declines in new orders, exports, and employment in recent years. Electronics/electrotechnical and mechanical engineering have been particularly impacted, while consulting engineering's order books have grown.
Finnish technology industry in statiscs, November 2015TechFinland
The Finnish technology industry is comprised of five sub-sectors: electronics/electrotechnical, mechanical engineering, metals, consulting engineering, and information technology. It accounts for 50% of Finnish exports, 75% of private R&D investment, and employs over 280,000 people directly and 700,000 total. The industry has experienced declines in new orders and order books recently compared to last year and the previous quarter across most sub-sectors.
Finnish technology industry, August 2018TechFinland
The document provides an economic outlook for the technology industry in Finland, including:
1) The technology industry needs average annual GDP growth of 3.0% through 2023 to overcome Finland's GDP gap according to IMF forecasts.
2) The technology industry is comprised of five sub-sectors: electronics/electrotechnical, metals, mechanical engineering, information technology, and consulting engineering.
3) The technology industry is Finland's largest export sector, accounting for 51% of exports, and employs over 300,000 people directly.
- The technology industry in Finland comprises five sub-sectors: mechanical engineering, electronics and electrotechnical, information technology, metals, and consulting engineering.
- It accounts for 50% of total Finnish exports, 75% of private R&D investment, and employs almost 280,000 people directly and 700,000 total.
- In 2014, the largest sub-sectors by turnover were mechanical engineering at 27.2 billion euros and electronics/electrotechnical at 15.1 billion euros.
Finnish technology industry, November 2018TechFinland
The document provides an economic outlook for the technology industry in Finland from November 2018. It discusses several key points:
1) The technology industry, comprised of electronics, metals, mechanical engineering, IT, and consulting engineering, is the largest export sector in Finland, accounting for 51% of exports.
2) The industry has seen growth in orders, personnel, and exports in recent years but signs point to weaker order development in the winter.
3) For Finland to close its GDP gap, annual growth of 3.0% is needed from 2018-2023, compared to IMF forecasts of lower growth for Europe.
The document provides an overview of the technology industry in Finland, which comprises five sub-sectors: mechanical engineering, electronics/electrotechnical, information technology, metals, and consulting engineering. It notes that the technology industry accounts for 50% of Finnish exports, 75% of private R&D investment, and employs almost 280,000 people directly and 700,000 total. Charts show trends in the industry's turnover, exports, new orders, order books, and employment from 2005-2014.
Finnish technology industry, January 2018TechFinland
The Finnish technology industry is comprised of five main sub-sectors: electronics/electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. It is the largest export sector in Finland, accounting for 50% of total exports. The technology industry employs around 300,000 people directly and 700,000 total, representing about 30% of Finland's labor force. Recent data shows growth in new orders and order books for many sub-sectors of the Finnish technology industry.
Finnish technology industry, March 2018TechFinland
The document discusses the Finnish technology industry, which comprises five sub-sectors: electronics and electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. It provides statistics on turnover, exports, personnel, and outlook for 2018. The technology industry is Finland's largest export sector and drives much of the country's economic activity and research investment. Order books and new orders for technology companies increased in late 2017 and outlook for the spring of 2018 is positive.
Technology industry / Finnish economic outlookTechFinland
The document summarizes the state of Finland's technology industry in 2023. It notes that the industry is comprised of five sub-sectors: electronics and electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. It provides data on turnover, exports, employment, and economic impact for each sub-sector. Overall, it finds that the technology industry generates over half of Finland's exports and accounts for 29% of GDP, making it the largest export sector and a major driver of the Finnish economy. However, new orders and order books in 2023 are down across several sub-sectors compared to 2022.
Finnish technology industry, November 2020TechFinland
The document discusses the Finnish technology industry, which comprises five sub-sectors: electronics/electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. It provides statistics on turnover, exports, employment, and economic impact for each sub-sector. Overall, the technology industry is Finland's largest export sector and has a significant impact on the economy, generating over 650,000 jobs and €55 billion in value added annually. Charts show trends in new orders and order books across the different technology sub-sectors between 2008-2020.
Finnish Technology Industry Situation and Outlook, September 2014TechFinland
The document discusses the technology industry in Finland, which comprises five sub-sectors: metals, electronics, mechanical engineering, information technology, and consulting engineering. It provides data on the turnover, exports, new orders, and order books of each sub-sector from 2005-2014, with information technology and electronics experiencing declines in new orders recently while mechanical engineering's new orders increased. The technology industry represents 50% of Finnish exports and employs around 30% of the labor force.
Finnish technology industry, September 2020TechFinland
The document discusses the technology industry in Finland, which comprises five sub-sectors: electronics/electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. It provides statistics on the industry's turnover, exports, employment, and economic impact. The technology industry is Finland's largest export sector and generates over half of all exports. It contributes significantly to GDP, employment, tax revenue, and research investment in Finland. Recent data shows a decline in new orders for some sub-sectors due to the COVID-19 pandemic.
Finnish Technology Industry Dec 2013, statisticsTechFinland
The technology industry is comprised of five sub-sectors in Finland: electronics and electrotechnical, mechanical engineering, metals, information technology, and consulting engineering. It employs almost 290,000 people directly and 720,000 in total, accounting for 30% of Finland's labor force. While the industry exports over half of Finland's total exports, it has faced declining turnover and new orders in recent years amid structural changes in the economy.
Finnish technology industry, February 2020TechFinland
The document discusses the technology industry in Finland, which comprises five sub-sectors: electronics and electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. It provides statistics on the turnover, exports, employment, and economic impact of the technology industry in Finland. The key points are that the technology industry is Finland's largest export sector, accounting for over 50% of total exports and generating over €55 billion in value added, equivalent to 28% of GDP. It employs over 300,000 people directly and creates nearly 650,000 jobs total through indirect effects.
Similar to Finnish technology industry, June 2016 (17)
Technology industry / Finnish economic outlookTechFinland
The Finnish technology industry is comprised of five sub-sectors: electronics and electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. It generates over 28% of Finland's GDP, exports over 50% of the country's total exports, and employs over 338,000 workers directly and 720,000 including indirect effects. While orders declined in 2023 from the high levels of 2022, the technology industry remains the largest export sector and driver of the Finnish economy.
Technology industry / Finnish economic outlookTechFinland
The Finnish technology industry is comprised of five sub-sectors: electronics and electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. It generates over €55 billion in value added annually, accounts for over 50% of exports, and employs over 300,000 people directly and 720,000 indirectly. New orders and order books declined across most technology sub-sectors in Q3 2023 compared to the previous quarter and year, with the exception of a small decline in information technology orders. The electronics, mechanical engineering, and consulting sectors saw the largest drops in new orders of over 20%.
Technology industry / Finnish economic outlookTechFinland
The Finnish technology industry is comprised of five sub-sectors: electronics and electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. It generates over €55 billion in value added annually, accounts for over 50% of exports, and employs over 300,000 people directly and 720,000 indirectly. While orders and revenues have declined in 2023 from record highs, the technology industry remains the largest export sector and driver of the Finnish economy.
Technology industry / Finnish economic outlookTechFinland
The Finnish technology industry is comprised of five sub-sectors: electronics and electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. It generates over EUR 55 billion in value added annually, accounts for over 50% of exports, and employs over 300,000 people directly and 720,000 indirectly. However, new orders and order books have declined across several technology sub-sectors in 2023 compared to 2022 and the first quarter of 2023, and over 6,000 technology industry employees were affected by temporary layoffs in June 2023.
Technology industry / Finnish economic outlookTechFinland
The Finnish technology industry is comprised of five sub-sectors: electronics and electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. It generates over €55 billion in value added annually, accounts for over 50% of exports, and employs over 300,000 people directly and 720,000 indirectly. However, new orders and order books have declined across several technology sub-sectors in 2023 compared to 2022. The number of employees affected by temporary layoffs also increased to over 6,000 in June 2023.
Technology industry / Finnish economic outlookTechFinland
The Finnish technology industry is comprised of five sub-sectors: electronics and electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. It generates over EUR 55 billion in value added annually, accounts for over 50% of exports, and employs over 300,000 people directly and 720,000 indirectly. However, new orders and order books have declined across several technology sub-sectors in 2023 compared to 2022 and the first quarter of 2023, and over 6,000 technology industry employees were affected by temporary layoffs in June 2023.
Technology industry / Finnish economic outlookTechFinland
The Finnish technology industry is comprised of five sub-sectors: electronics and electrotechnical, metals, mechanical engineering, information technology, and consulting engineering. It generates over half of Finland's exports and accounts for 29% of GDP. While orders and revenues grew in early 2023 for some sub-sectors like electronics, overall new orders and order books declined due to challenges in export markets. The technology industry remains a major driver of Finland's economy.
Technology industry / Finnish economic outlookTechFinland
The Finnish technology industry is comprised of five sub-sectors that collectively generate over half of Finland's exports and employ over 300,000 people directly. The technology industry contributes €63 billion to GDP annually through direct, indirect, and consumption effects. It brings in €23 billion in tax revenue per year and accounts for 65% of private sector R&D investment in Finland.
The Universal Account Number (UAN) by EPFO centralizes multiple PF accounts, simplifying management for Indian employees. It streamlines PF transfers, withdrawals, and KYC updates, providing transparency and reducing employer dependency. Despite challenges like digital literacy and internet access, UAN is vital for financial empowerment and efficient provident fund management in today's digital age.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
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Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
2. • 50% of total Finnish exports.
• 75% of private-sector
R&D investment.
• Almost 280,000 employed directly in
the sector, 700,000 employed in total,
equalling about 30% of the entire
Finnish labour force.
• The Federation of Finnish Technology
Industries has over 1,600 member
companies.
2
The Technology Industry –
the Largest Export Sector in Finland
6.6.2016
3. Mechanical Engineering
Abloy, Cargotec, Finn-Power, Fiskars,
Glaston, Kone, Konecranes, Metso,
Meyer Turku, Normet, Oras, Patria,
Pemamek, Ponsse, Stala, Valmet, Valtra,
Wärtsilä…
Electronics and
Electrotechnical Industry
ABB, Ensto, Microsoft Mobile,
Murata Electronics, Nokia,
Planmeca, Polar Electro, Suunto,
Vacon, Vaisala…
Information Technology
Affecto, Basware, Bilot, CGI,
Comptel, Digia, Efecte, Enfo,
F-Secure, Fujitsu Finland, IBM,
Innofactor, Knowit, Microsoft,
Nixu, Tieto…
Metals Industry
Boliden, Componenta,
Kuusakoski, Luvata, Outokumpu,
Outotec, Ovako, Sacotec,
SSAB …
Consulting Engineering
A-Insinöörit, Citec, Elomatic,
Etteplan, FCG, Granlund, Neste
Jacobs, Pöyry, Ramboll,
Rejlers, SITO, SWECO, WSP...
The Finnish Technology Industry Is Comprised of
Five Sub-Sectors
6.6.20163
4. The Finnish Technology Industry is Comprised of
Five Sub-Sectors
Electronics and
Electrotechnical Industry
• Data communications equipment,
electrical machinery, medical technology
products
• Turnover (2015): 13.2 billion euros
• Personnel (2015): 40,500
Metals Industry
• Steel products, non-ferrous
metals, castings
• Turnover (2015): 9.1 billion euros
• Personnel (2015): 15,100
Mechanical Engineering
• Machinery, metal products,
vehicles
• Turnover (2015): 27.7 billion euros
• Personnel (2015): 121,000
Consulting Engineering
• Expertise for construction industry
and infrastructure
• Turnover (2015): 5.5 billion euros
• Personnel (2015): 47,300
Information Technology
• IT services, applications
and programming
• Turnover (2015): 10.7 billion euros
• Personnel (2015): 57,900
6.6.20164
6. 6.6.20166
Export of Technology Industry Goods from
Finland by Area in 2015
Total goods exports 26.7 billion euros*
North America
2.6 billion €
9.6 %
Western Europe
14.4 billion €
53.7 %
Middle and
Central East
0.7 billion €
2.5 %
Asia
3.8 billion €
14.4 %
Africa
0.5 billion €
1.9 %
South and Middle America
0.9 billion €
3.3 %
Central and Eastern Europe
3.8 billion €
14.6 %
*) In addition to goods exports the sector exported services worth some 10 billion euros.
Source: National Board of Customs, Statistics Finland
7. 6.6.20167
Turnover of the Industry and Technology
Industry in Finland
Source: Macrobond, Statistics Finland
9. 8.6.20159
Value of New Orders in the Technology Industry* in
Finland
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
11,000
12,000
Combined
Export
Domestic
Million euros, at current prices
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent companies,
latest information January-March 2016
*) Excluding metals industry
and game industry
companies.
Change: I,2016 / I,2015 I,2016 / IV,2015
Export: +4 % -14 %
Domestic: -10 % -25 %
Combined: 0 % -16 %
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
10. 8.6.201510
Value of Order Books in the Technology Industry* in
Finland
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
22,000
24,000
26,000
Export
Domestic
Million euros, at current prices
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent companies,
latest information 31.3.2016
*) Excluding metals industry
and game industry
companies.
Combined
Change: 31.3.2016 / 31.3.2015 31.3.2016 / 31.12.2015
Export: +25 % 0 %
Domestic: 0 % -4 %
Combined: +17 % -2 %
11. Source: The Federation of Finnish Technology Industries’ order book survey,
latest information April 2016.
“Have you experienced a notable increase or decrease in the number of requests for tenders in recent weeks in comparison to the
situation three months ago?”. Balance figure = the number of companies receiving more requests - the number of companies receiving
less requests.
-60
-50
-40
-30
-20
-10
0
10
20
30
40
Balance figure
6.6.201611
Tender Requests* Received by Technology Industry
Companies in Finland
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
12. 8.6.201512
Value of New Orders in the Electronics and
Electrotechnical Industry in Finland
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
6,000
6,500
7,000
7,500
8,000
Combined
Export
Domestic
Million euros, at current prices
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Change: I,2016 / I,2015 I,2016 / IV,2015
Export: +12 % -13 %
Domestic: -37 % -50 %
Combined: +2 % -20 %
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent companies,
latest information January-March 2016
13. 8.6.201513
Value of Order Books in the Electronics and
Electrotechnical Industry in Finland
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
6,000
6,500
7,000
7,500
8,000
8,500
9,000
Export
Domestic
Combined
Million euros, at current prices
Change: 31.3.2016 / 31.3.2015 31.3.2016 / 31.12.2015
Export: +16 % -7 %
Domestic: -30 % -38 %
Combined: +7 % -13 %
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent companies,
latest information 31.3.2016
14. 8.6.201514
Value on New Orders in the Mechanical Engineering
in Finland
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
Combined
Export
Domestic
Million euros, at current prices
Change: I,2016 / I,2015 I,2016 / IV,2015
Export: -5 % -15 %
Domestic: +17 % +4 %
Combined: 0 % -10 %
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent companies,
latest information January-March 2016
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
15. 8.6.201515
Value of Order Books in the Mechanical Engineering
in Finland
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
11,000
12,000
13,000
14,000
15,000
Export
Domestic
Combined
Million euros, at current prices
Change: 31.3.2016 / 31.3.2015 31.3.2016 / 31.12.2015
Export: +36 % +2 %
Domestic: +3 % +2 %
Combined: +28 % +2 %
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent companies,
latest information 31.3.2016
16. 8.6.201516
Value of New Orders in the Consulting Engineering
in Finland
0
20
40
60
80
100
120
140
160
180
200
220
240
260
280
300
320
Combined
Export
Domestic
Million euros, at current prices
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Change: I,2016 / I,2015 I,2016 / IV,2015
Export: +33 % +20 %
Domestic: +10 % +11 %
Combined: +12 % +12 %
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent companies,
latest information January-March 2016
17. 8.6.201517
Value of Order Books in the Consulting Engineering
in Finland
0
50
100
150
200
250
300
350
400
450
500
550
600
650
700
Export
Domestic
Combined
Million euros, at current prices
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent companies,
latest information 31.3.2016
Change: 31.3.2016 / 31.3.2015 31.3.2016 / 31.12.2015
Export: -2 % +10 %
Domestic: +25 % +6 %
Combined: +20 % +7 %
18. 8.6.201518
Value of New Orders in the Information Technology
in Finland
0
50
100
150
200
250
300
350
400
450
500
550
600
650
700
750
800
Million euros, at current prices
Change: I,2016 / I,2015 I,2016 / IV,2015
Combined: -15 % -31 %
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent companies,
latest information January-March 2016
*) Excl. game
industry companies
19. 8.6.201519
Value of Order Books in the Information Technology
in Finland
0
100
200
300
400
500
600
700
800
900
1,000
1,100
1,200
1,300
1,400
1,500
1,600
1,700
1,800
1,900
Million euros, at current prices
Change: 31.3.2016 / 31.3.2015 31.3.2016 / 31.3.2015
Combined: +3 % -6 %
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent companies,
latest information 31.3.2016
*) Excl. game
industry companies
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
20. 30.7.201520
Personnel in the Technology Industry
150,000
170,000
190,000
210,000
230,000
250,000
270,000
290,000
310,000
330,000
350,000
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
(31.3)
Personnel in Finland Personnel in subsidiaries abroad
Source: Statistics Finland, The Federation of Finnish Technology Industries’ labour force survey
Some 14,000 of personnel
affected by temporary or
part-time lay-offs 31.3.2016
21. 7.5.201521
Technology Industry Personnel in Finland by Branch
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
(31.3)Electronics and Electrotechnical Industry Mechanical engineering industry
Metals industry Consulting engineering
Information technology
Source: Statistics Finland, The Federation of Finnish Technology Industries’labour force survey
22. 7.5.201522
Technology Industry Personnel in Subsidiaries
Abroad by Branch
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
180,000
200,000
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Electronics and Electrotechnical Industry Mechanical engineering industry
Metals industry Consulting engineering
Information technology
Source: The Federation of Finnish Technology Industries’labour force survey
23. Retirement of Technology Industry Personnel
0
1000
2000
3000
4000
5000
6000
7000
8000
9000
2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 2030
Number of individuals retired Number of individuals retiring (estimation)
Source: Wage inquiry of the Federation of Finnish Technology Industries,
Finnish Centre for Pensions, Statistics Finland
Individuals per year
Salaried employees
Blue collar employees
6.6.201623
24. Retirement of Technology Industry Blue Collar
Employees
0
500
1000
1500
2000
2500
3000
3500
2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 2030
Mechanical engineering Metals industry Electronics and electrotechnical industry
Source: Wage inquiry of the Federation of Finnish Technology Industries, Finnish
Centre for Pensions, Statistics Finland
Individuals per year
6.6.201624
25. - Finland is in the grip of structural change. Development remains uneven between
companies.
- Turnover in Finland lowered slihtly in 2015 compared to the year 2014. Turnover totalled
EUR 66 billion. In the pre-crisis year 2008 it was EUR 86 billion.
- The monetary value of new orders reported between January-March 2016 was at the
same level than in the corresponding period in 2015, but 16 % lower than in the preceding
quarter.
- At the end of March, the value of order books was 17 % higher year-on-year, but 2 %
lower the value reported at the end of December.
- The turnover of technology industry companies in the spring of 2016 is expected to
remain at the same level or a slightly lower level as in the corresponding period last year.
- Since 2008, personnel numbers in Finland have shrunk by 48,000 employees, totalling
on average 278,000 at the end of March 2016.
Economic Outlook in the Technology Industry
6.6.201625
27. 6.6.201627
GDP Has Been Growing in Western Europe and USA ,
Finland Has Dropped Behind the Others
Source: Macrobond
28. 6.6.201628
Growth is Lowering in China, Remaining Fast in India
Recession Continues in Russia and Brazil
Share of global GDP in China, Brazil and Russia is 23%, in China 16% (adjusted for PP)
Source: Macrobond
29. GDP Growth Has Continued in Eurozone in May, but at
the Slower Rate
Purchase Managers’ Index (PMI), 50 = no change from previous month
Latest information May 2016.
Source: Markit
6.6.201629
33. 6.6.201633
Industrial Production in China is Dropping
Purchase Managers’ Index (PMI) in manufacturing industry in China
50 = no change from previous month
Latest information May 2016.
Source: Markit
34. Industrial Production in Russia is Dropping
Purchase Managers’ Index (PMI) in manufacturing industry in Russia
50 = no change from previous month
Latest information May 2016.
Source: Markit
6.6.201634
35. Industrial Production in Brazil is Dropping
Purchase Managers’ Index (PMI) in manufacturing industry in Russia
50 = no change from previous month
Latest information May 2016.
Source: Markit
6.6.201635
36. 6.6.201636
Industrial Production in USA is Slightly Increasing
Purchase Managers’ Index (PMI) in manufacturing industry in Russia
50 = no change from previous month
Lähde: Macrobond
37. 6.6.201637
Growth of Residence Construction Has Lowered in
China
Share of China in Asian GDP is 42% (adjusted for PP)
Source: Macrobond
38. 6.6.201638
Fixed Investments in Russia and Brazil are Falling
Share of Russia in European GDP is 13% (adjusted for PP)
Share of Brazil in Latin American GDP is 35% (adjusted for PP)
Source: Macrobond
39. 6.6.201639
Import to Emerging Countries Has Lowered
Import volume development
Source: Macrobond, The CPB Netherlands Bureau for Economic Policy Analysis
44. 6.6.2016
Global Economy is Expected to Grow by 3.2 % in
2016
GDP growth in 2016, %
Source: IMF (April 2016)
-4
-3
-2
-1
0
1
2
3
4
5
6
7
8
9
0 10 20 30 40 50 60 70 80 90 100
North America
Western Europe
Japan
China
India
Rest of
Asia
RestofEasternEurope
Russia
Brazil
Mexico
RestofLatin
America
MiddleEastandAfrica
The width of the bar indicates the share of global GDP in 2015 (adjusted for purchasing power parity), %
Average growth:
+3,2 %
45. 6.6.2016
Export Demand for Technology Industry in Finland
Will Grow by 2.0% in 2016
GDP growth 2016/2015, %
Source: IMF (April 2016), Board of Customs
-4
-3
-2
-1
0
1
2
3
4
5
6
7
8
9
0 10 20 30 40 50 60 70 80 90 100
North America
Western Europe
Japan
China
India
Rest of
Asia
RestofEastern
Europe
Russia
Brazil
MexicoRestofLatin
America
MiddleEastandAfrica
The width of the bar indicates the export share of technology industry from Finland in 2015, %
Average growth:
+2.0%
46. Breakdown of World Industrial Production
0
5
10
15
20
25
30
35
40
45
50
1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010
Asia
North America
Europe
Purchasing power parity adjusted shares.
Source: Maddison (Historical Statistics), IMF and ETLA
%
6.6.201646
51. The Share of Industry in GDP in Finland 1900-2014
0%
5%
10%
15%
20%
25%
30%
35%
1900 1905 1910 1915 1920 1925 1930 1935 1940 1945 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010
Industry* Industry + service sectors in the technology industry
*) During 1900-1974 industry covers also mines, energy, water and refuse collection sectors.
Source: Statistics Finland / National Accounts
6.6.201651
53. Growth of Public Debt and Tax Rate in Finland
Increased cost burden requires cuts to public sector
Source: Macrobond, Statistics Finland
6.6.201653
54. 85
90
95
100
105
110
115
120
125
130
135
140
145
150
155
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015e 2016e 2017e
Corporate sector fixed investments, index 2005=100
Sweden
The Netherlands
USA
Germany
Switzerland
Finland
6.6.201654
Upswing of Investments Required in Finland
Source: OECD, Economic Outlook 2015
55. 0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015e 2016e
Manufacturing industry Technology industry
Industrial Companies’ Investment Plans Indicate an
Increase in Investments Both in 2015 and 2016
Industrial fixed and R&D investments in Finland
Source: Statistics Finland, Confederation of Finnish Industries’
Investment Survey (January 2016)
Million euros, at current prices
6.6.201655
56. 95
100
105
110
115
120
125
130
135
140
145
150
155
160
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Manufacturing industry
Technology industry
National economy
Turning Point of Productivity* Development in Finland
After 2008 Finland has lost considerable volume production in electronics, forest and
machinery industries**
Source: Statistics Finland / National Accounts
*) Productivity is measured as real value added per hours worked. When productivity grows (the curve rises)
value added grows more than hours worked.
Value added = turnover – purchasing of materials and services
Value added = labour costs + rents + depreciations + profits
**) The production capasity of
current industry does not enable the
similar productivity development as
during the years 2000-2008
6.6.201656
Index, 2000=100
57. 90
95
100
105
110
115
120
Compared to Belgium Compared to Germany Compared to Spain
Compared to Italy Compared to the Netherlands Compared to Austria
Compared to Finland
*) In the ECB Harmonised Competitiveness Index, the average effective exchange rate of each country is
calculated vis-à-vis 20 to 30 main trade partners, as well as the development of unit labour costs for the total
economy.
Latest information IV/2015. Source: European Central Bank
Finland’s price
and cost
competitiveness
declines
2005,I =100
Finland’s price
and cost
competitiveness
improves
Unit Labour Costs at the National Economy Level
Unit labour costs = labour costs / productivity, including the influence of effective
exchange rates
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
6.6.201657
58. Support the renewal of the industry
Taxes should support growth and investment in Finland
Support decision making in companies related to compensation and
working time
No new European nor national burdens on companies, which are
deteriorating the competitiveness
What should be done?
6.6.201658
59. Global Structural Change Set to Continue Apace
– Industrial production and services will relocate to rapidly developing economic areas
– Strong growth, large markets, cheap labour and increasing expertise will increase the
attractiveness of these regions.
Competition over Skills and Raw Materials Set to Increase
– Due to an increase in retirement, the sector’s annual recruitment need in Finland will rise
considerably in the coming years.
– The availability of reasonably-priced energy also threatens to become an investment
bottleneck in Finland
Combating Climate Change
– A challenge as costs are set to grow faster than in competitor countries
– An opportunity for new environmental and energy technologies
Long-Term Outlook and Challenges
6.6.201659