Value of industrial output reduces by 10% in 2020

The value of the sold output of industry was EUR 84.1 billion in 2020, which is about 10 percent lower than the previous year, according to Statistics Finland.

The share of metal industry products of the total value of the sold output was 45 per cent, or EUR 38.1 billion, of which the sales of machinery and equipment covered nearly one half, EUR 18.4 billion.

The share of chemical industry products of the total value of the sold output was 19 per cent, that of forest industry products 17 per cent and that of food products 11 per cent.

The value of sold output fell in nearly all product groups. The value of the sold output contracted most in chemical industry (-20%) and forest industry products (-15%). The decline in the value of the sold output of metal industry products was more moderate (-6%), where the value of the sold output of transport equipment dropped by 17 per cent, that of machinery and equipment by six per cent, and that of metals and metal products fell by two per cent.

The value of the sold output of food remained on level with the previous year.

The value of sold output grew for both mining and quarrying (+4%) and textiles, clothing, leather and leather products (+7%).

However, these product groups account for a small proportion of the total value of sold output, mining and quarrying products account for two per cent, and textiles, clothing, leather and leather products for less than one per cent of total sold output.