Turnover of large enterprises decreases YoY: stats

Compared with 2019, the turnover of large enterprises was declining each month between January and May this year, reported Xinhua, quoting Statistics Finland on Tuesday.

From January to May 2020, the year-on-year decline in total turnover was 7.2 percent. The exceptional situation caused by the COVID-19 crisis has affected the development of large enterprises, Statistics Finland noted.

In May 2020, the turnover of large Finnish enterprises was 14.6 percent lower than in the same month of 2019, said Statistics Finland.

The figures are based on the turnover of Finland's 2,000 largest manufacturing, trade and services companies, which make up around 70 percent of the country's total business turnover, but do not include the financial and primary production sectors.

The Confederation of Finnish Industries (EK) said last week that 48 percent of the country's companies involved in international trade had reported a decline in international business, while 12 percent saw an increase over the last three months.