Finnish enterprises produce most turnover in Sweden

Finnish enterprises had business activity in 5,400 affiliates located in 144 countries in 2016, according to Statistics Finland.

The number of personnel grew compared with the previous year, being 544,900 employees centred in Europe and Asia. Compared with the year before, turnover grew by 17 per cent, being EUR 156.5 million. Most turnover was produced in affiliates located in Sweden.

Finnish affiliates abroad employed the largest number of personnel in EU countries, altogether 256,800 persons. Measured by the number of employees, the most significant industries in EU countries were the machinery and metal industry with good 45,170 employees and the electrical and electronics industry with good 44,520 employees.

Affiliates in Asia and Oceania were the second most significant employer of personnel with 135,360 employees. In Asia and Oceania, the biggest employers among manufacturing industries were the electrical and electronics industry with good 57,380 persons and the machinery and metal industry with close on 42,600 persons. China pushed past Sweden and was the most significant employer country of Finnish affiliates abroad with 63,260 employees.

Finnish affiliates abroad invested good EUR 4.1 billion into their tangible goods. Sixty-two per cent of the investments were made in Europe and 19 per cent in Asia and Oceania. The manufacturing industry was globally the most significant investment target for Finnish enterprises abroad, amounting to good EUR 2.3 billion. In EU countries, most was invested in manufacturing affiliates, close on EUR 1.1 billion, and in enterprises of real estate, renting and research services and business activities, EUR 338 million. Affiliates of the paper industry invested most in Asia and Oceania, good EUR 255 million, and in North America, good EUR 141 million. Of individual countries, most was invested in Sweden, over EUR 615 million.

The combined total turnover of Finnish affiliates located abroad amounted to EUR 156.5 billion. The figure describes unconsolidated turnover, in other words, it includes, for instance, intra-group trade. Over one-half of the turnover was generated in EU countries and 17 per cent in Asia and Oceania. In affiliates located in EU countries, the largest amounts of turnover were generated in wholesale and retail trade, good EUR 16.6 billion, and in the paper industry, over EUR 13.8 billion. In Asia and Oceania, the electronics and electrical industry with close on EUR 9.3 billion was the most significant industry measured by turnover. Globally, the manufacturing industry generated most turnover for Finnish enterprises, nearly EUR 100 billion, and wholesale and retail trade, EUR 30.4 billion. Examined by country, most turnover was accumulated in Sweden, EUR 31.1 billion.