Turnover of foreign companies in Finland grows to 96 billion euros

Foreign enterprises located in Finland generated 96 billion euros in turnover in 2018. This was 4% more than in the previous year. In addition, the number of foreign enterprises increased slightly, to 4,382.

According to Statistics Finland's data, most turnover was generated by companies from Sweden, United States, Germany, United Kingdom and Denmark.

Swedish enterprises accounted for 22.1% of the total turnover of foreign enterprises located in Finland. The industry of manufacturing was most significant in terms of both number of persons employed and turnover.

Source: Statistics Finland.

High shares in employment and turnover

Foreign enterprises employ nearly 17.8% of the personnel of all enterprises operating in Finland. The share increased slightly from the year before. Also, the share of turnover went up slightly to 22.8% of the turnover of all enterprises in the country.

Relative to the total enterprise stock, foreign enterprises in Finland generating most turnover represented the industries of information and communication, and mining and quarrying. In terms of employment, those foreign companies in the industries of human health and social work activities, and information and communication employed most people relative to the total enterprise stock.

The picture is slightly different if we look at the number of personnel and turnover instead of the shares. Measured in this way, the most significant industries are manufacturing, and wholesale trade and retail trade. Manufacturing employed 75,200 persons, or 28% of employees in foreign enterprises and its turnover was 32 billion euros. Wholesale and retail trade employed 48,500 persons and its turnover amounted to 32 billion euros.

The nationality of an enterprise is recorded based on the institutional unit that controls it. Usually this is an enterprise located abroad that owns over 50% of the enterprise, either directly or indirectly. Swedish enterprises clearly own the largest share of the affiliates located in Finland.

Swedish enterprises also employ most among foreign affiliates, 77,000 persons, which was around 8% fewer than in the year before. Also measured by turnover, Swedish enterprises are most noteworthy with 21 billion euros.