Turnover of large companies fell 6.7% in the first half of 2020

The exceptional situation caused by coronavirus had an effect on the development of large enterprises.

According to Statistics Finland's preliminary data, the seasonally adjusted turnover of large enterprises grew by 2% in June compared with May. In May, seasonally adjusted turnover grew by 0.9%, while in April, turnover was 8.3% lower than in the month before.

In annual terms, the unadjusted turnover of large enterprises fell by 5.2% in June compared with June 2019. The turnover of large enterprises decreased by 6.7% in January to June from one year ago.

Manufacturing, construction and trade

The turnover estimate of large enterprises is based on a sample formed of 2,000 enterprises with the most significant turnover in manufacturing, construction, trade and other service industries. Excluded from the statistics are enterprises engaged in primary production, and bank and insurance activities.

The enterprises described in the statistics make up approximately 70% of the turnover of all enterprises operating in Finland, represent more than one-half of the investments made and employ good 40% of the personnel of all enterprises.

Statistics Finland highlights that the economic situation of the whole enterprise sector cannot be assessed based only on these statistics, because the economic development of smaller enterprises may differ from large enterprises.