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Technology Industry / Finnish Economic Outlook April 2019

Discover the thriving technology industry in Finland, comprising five sub-sectors: Mechanical Engineering, Metals Industry, Electronics and Electrotechnical Industry, Information Technology, and Consulting Engineering. The industry contributes significantly to the country's GDP, exports, tax revenue, and job creation. Explore the impressive value added and turnover figures, as well as the industry's impact on the Finnish economy.

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Technology Industry / Finnish Economic Outlook April 2019

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  1. Technology Industry /Finnish Economic OutlookApril 2019 Technology Industries of Finland

  2. Overcoming the Gap in GDP Will Require 3.0% Growth in Finland Annually in 2019-2023 *) The IMF forecast for the euro area in January 2019: 1.6 in 2019, 1.7 in 2020, 1.5% in 2021, 1.5 % in 2022 and 1.4 % in 2023. Source: Macrobond, IMF, Federation of Finnish Technology Industry Technology Industries of Finland

  3. The Finnish Technology Industry Is Comprised of Five Sub-Sectors MECHANICAL ENGINEERING Abloy, Cargotec, Finn-Power, Fiskars, Glaston, Kone, Konecranes, Metso, Meyer Turku, Normet, Oras, Patria, Pemamek, Ponsse, Stala, Valmet, Valtra, Wärtsilä… METALS INDUSTRY Boliden, Componenta, Kuusakoski, Luvata, Outokumpu, Outotec, Ovako, Sacotec, SSAB … ELEKTRONICS AND ELECTROTECHNICAL INDUSTRY ABB, Ensto, Microsoft Mobile, MurataElectronics, Nokia, Planmeca, Polar Electro, Suunto, Vacon, Vaisala… INFORMATION TECHNOLOGY Affecto, Basware, Bilot, CGI, Comptel, Digia, Efecte, Enfo, F-Secure, Fujitsu Finland, IBM, Innofactor, Knowit, Microsoft, Nixu, Tieto… CONSULTING ENGINEERING A-Insinöörit, Citec, Elomatic, Etteplan, FCG, Granlund, Neste Jacobs, Pöyry, Ramboll, Rejlers, SITO, SWECO, WSP… Technology Industries of Finland

  4. The Finnish Technology Industry Is Comprised of Five Sub-Sectors • MECHANICAL ENGINEERING • Machinery, metal products, vehicles • Turnover (2018): 31.7 billioneuros • Personnel (2018): 133,000 • METALS INDUSTRY • Steel products, non-ferrousmetals, castings, metallicminerals • Turnover (2018): 10.8 billioneuros • Personnel (2018): 16,400 • ELEKTRONICS AND ELECTROTECHNICAL • INDUSTRY • Data communicationsequipment, electricalmachinery, medicaltechnology • Turnover (2018): 15.3 billioneuros • Personnel (2018): 38,600 • INFORMATION TECHNOLOGY • IT services, applications and programming • Turnover (2018): 13.0 billioneuros • Personnel (2018): 68,900 • CONSULTING ENGINEERING • Expertise for constructionindustry and infrastructure • Turnover (2018): 6.3 billioneuros • Personnel (2018): 54,300 Technology Industries of Finland

  5. The Technology Industry – the Largest Export Sector in Finland 2018 Over 50 % of totalexports. 311,000employeddirectly in thesector, includingindirect effects 660,000 people. Effect on value added totaling € 57 billion, or 28% of GDP value added. Bring to Finland € 18 billion tax revenue annually. InvestmentsaboutEUR 5.0 billionannually in Finland. 70 % of private-sector R&D investment. Technology Industries of Finland

  6. Value Added to the Economy Generated by the Technology Industry Is EUR 55 Billion, or over 28% of GDP * (2017) *) GDP value added was EUR 193.3 billion in 2017. Source: Economic Impact of the Technology Industry in Finland 11/2018 Teknologiateollisuus

  7. Technology Industry Generates nearly 650,000 Jobs in Finland (over 25% of All Employees) (2017) Source: Economic Impact of the Technology Industry in Finland 11/2018 10 jobs in the technology industry bring 11 jobs to the rest of the economy Teknologiateollisuus

  8. Every Job in the Technology Industry Generates almost another Job in the Services (2017) *) Excl. the services industries in the technology industry. Source: Economic Impact of the Technology Industry in Finland 11/2018 Teknologiateollisuus

  9. Technology Industry Generates over 18 Billion Euros in Tax Revenue Annually in Finland (2017) Source: Economic Impact of the Technology Industry in Finland 11/2018 Teknologiateollisuus

  10. Turnover of the Technology Industry in Finland Source: Macrobond, Statistics Finland, Technology Industries of Finland Technology Industries of Finland

  11. *) In addition to goodsexportsthesectorexportedservicesworth some 13 billioneuros. Source: National Board of Customs, Statistics Finland Export of Technology Industry Goodsfrom Finland by Area in 2018 Total goodsexports 32.5 billioneuros* Central and Eastern Europe 5.06 billion € 15.5 % Western Europe 17.51 billion € 53.9 % North America 3.04 billion € 9.4 % Asia 5.04 billion € 15.5 % Middle and Central East 0.48 billion € 1.5 % South and Middle America 0.89 billion € 2.7 % Africa 0.48 billion € 1.5 % Technology Industries of Finland

  12. Technology, Forest and Chemical Industries Provide 81 % of Finland's Goods and Services Exports Revenue Goods and serviceexports: billioneuros and theshare of Finnish exports in 2017 *) Service exportsindustry-specific data for theyear 2017 arepreliminaryinformation. Source: Board of Customs, Statistics Finland (National Accounts, Foreigntrade in services), Federation of Finnish Technology Industries Technology Industries of Finland

  13. Turnover of the Industry and Technology Industry in Finland Source: Macrobond, Statistics Finland Technology Industries of Finland

  14. Turnover of the Technology Industry in Finland Source: Macrobond, Statistics Finland Technology Industries of Finland

  15. Value of New Orders in the Technology Industry* in Finland Source: The Federation of Finnish Technology Industries’ orderbooksurvey’srespondentcompanies, latestobservation October-December 2018 Millioneuros, at currentprices *) Excl. metalsindustry, gameindustry and data center companies Technology Industries of Finland

  16. Value of Order Books in the Technology Industry* in Finland Source: The Federation of Finnish Technology Industries’ orderbooksurvey’srespondentcompanies, latestobservation 31th December 2018. Millioneuros, at currentprices Combined *) Excl. metalsindustry, gameindustry and data center companies Technology Industries of Finland

  17. Tender Requests* Receivedby Technology Industry Companies in Finland Source: The Federation of Finnish Technology Industries’ orderbooksurvey’srespondentcompanies, the last questionnaire in January 2019 *) ”Have youexperienced a notableincreaseordecrease in thenumber of requests for tenders in recentweeks in comparison to thesituationthreemonthsago?”. Balancefigure = thenumber of companiesreceivingmorerequests - thenumber of companiesreceivinglessrequests.” Technology Industries of Finland

  18. Tender Requests* Receivedby Technology Industry AnticipateWeaker Order Development *) Fourquartersmovingsum. Source: The Federation of Finnish Technology Industries’ orderbooksurvey’srespondentcompanies Technology Industries of Finland

  19. Value of New Orders in theElectronics and Electrotechnical Industry in Finland Source: The Federation of Finnish Technology Industries’ orderbooksurvey’srespondentcompanies, latestobservation October-December 2018 Millioneuros, at currentprices Technology Industries of Finland

  20. Value of Order Books in theElectronics and Electrotechnical Industry in Finland Source: The Federation of Finnish Technology Industries’ orderbooksurvey’srespondentcompanies, latestobservation 31th December 2018. Millioneuros, at currentprices Combined Technology Industries of Finland

  21. Value of New Orders in theMechanical Engineering in Finland Source: The Federation of Finnish Technology Industries’ orderbooksurvey’srespondentcompanies, latestobservation October-December 2018 Millioneuros, at currentprices Technology Industries of Finland

  22. Value of Order Books in theMechanical Engineering in Finland Source: The Federation of Finnish Technology Industries’ orderbooksurvey’srespondentcompanies, latestobservation 31th December 2018. Millioneuros, at currentprices Combined Technology Industries of Finland

  23. Value of New Orders in the Consulting Engineering in Finland Source: The Federation of Finnish Technology Industries’ orderbooksurvey’srespondentcompanies, latestobservation October-December 2018 Millioneuros, at currentprices Technology Industries of Finland

  24. Value of Order Books in the Consulting Engineering in Finland Source: The Federation of Finnish Technology Industries’ orderbooksurvey’srespondentcompanies, latestobservation 31th December 2018. Millioneuros, at currentprices Combined Technology Industries of Finland

  25. Value of New Orders in theInformation Technology* in Finland Source: The Federation of Finnish Technology Industries’ orderbooksurvey’srespondentcompanies, latestobservation October-December 2018 Millioneuros, at currentprices *) Excl. gameindustry and data center companies Technology Industries of Finland

  26. Value of Order Books in theInformation Technology* in Finland Source: The Federation of Finnish Technology Industries’ orderbooksurvey’srespondentcompanies, latestobservation 31th December 2018. Millioneuros, at currentprices *) Excl. gameindustry and data center companies Technology Industries of Finland

  27. Technology Industry Personnel in Finland and Abroad Source: Statistics Finland, Federation of Finnish Technology Industries’ labour forcesurvey Technology Industries of Finland

  28. Technology Industry Personnel in Finland by Branch Source: Statistics Finland, The Federation of Finnish Technology Industries’ labour force survey, Macrobond Technology Industries of Finland

  29. Technology Industry Personnel in Subsidiaries Abroad by Branch Source: The Federation of Finnish Technology Industries’ labour force survey, Macrobond Technology Industries of Finland

  30. Retirement of Technology Industry Personnel in Finland Source: Wageinquiry of theTechonologyIndustries of Finland, Finnish Centre for Pensions, Statistics Finland Individuals per year Salariedemployees Bluecollaremployees Technology Industries of Finland

  31. Retirement of Technology Industry BlueCollarEmployees in Finland Source: Wageinquiry of theTechonologyIndustries of Finland, Finnish Centre for Pensions, Statistics Finland Individuals per year Technology Industries of Finland

  32. Overview of theSituation in the Technology Industry and Outlook for theEarly 2019 - Turnover in Finland totalled some EUR 77 billion in 2018. Theturnoverwasup 6 % year-on-year. In 2008, prior to thefinancialcrises, thecorrespondingfigurewas EUR 86 billion. - The monetaryvalue of newordersreportedbetween October-December 2018 was 9 % higherthan in theprecedingquarter, but 13 lowerthan in thecorrespondingperiod in 2017. The drop is due to the ship orders in the reference period. - At theend of December, thevalue of orderbookswas 3 % higherthan at theend of September, and 10 % higherthan in December 2017. - The turnover of technology industry companies in early 2019 is expected to be higher than in the corresponding period last year. Some of the turnover growth is attributable to rising producer prices. - The number of personnel employed by technology industry companies in Finland grew by almost 4 per cent in 2018 from the 2017 average. The industry employed some 311,000 people, up 11,000 from 2017. In 2008, the industry employed a total of 326,000 people in Finland. - Therecruitment activities decreased towards the end of the year. Companies recruited a total of 50,000 new employees in 2018. In 2017, total recruitments came to 42,500. Technology Industries of Finland

  33. World Economic Outlook - Finland as a Part of Global Economy Technology Industries of Finland

  34. GDP Growth Forecasts for 2019 Have Been Weakened in Recent Months Source: ConsensusEconomics Technology Industries of Finland

  35. GDP also Grows in Finland, but the Backlog for the Other Euro Area Countries Is up to 7% Lähde: Macrobond Technology Industries of Finland

  36. Finnish Exports Growth Has Come to an End during 2018, Backlog for the Other Euro Area Countries is nearly 40% Source: Macrobond, Eurostat Technology Industries of Finland

  37. Finland’s Economic Growth Has recently been Supported by Exports, Private Consumption and Construction Source: Macrobond, Statistics Finland Technology Industries of Finland

  38. Gross Domestic Product Has Grown Long in Europe and the USA, Finland is Lagging Behind Souce: Macrobond Technology Industries of Finland

  39. Lähde: Macrobond In China, Growth Is Slowing Down, Brazil and Russia Are Experiencing Weak Growth Share of global GDP in China, India, Brazil and Russia is 31 % (adjusted for PP) Technology Industries of Finland

  40. Latest informationMarch 2019 Source: Markit Economic Growth in the Euro Area Has Slowed Down RapidlyPurchase Managers’ Index (PMI), 50 = no changefrompreviousmonth Technology Industries of Finland

  41. New Orders in Manufacturing in the Euro Area Have Declined, with Small Growth in Services PurchaseManagers’ Index (PMI), 50 = no changefrompreviousmonth LatestinformationMarch 2019 Source: Markit Technology Industries of Finland

  42. Industrial Production Has also Grown in Finland, but the Backlog to EU Average Is 15% Source: Macrobond Technology Industries of Finland

  43. Industrial Production Volume in the EU Countries Source: Macrobond Technology Industries of Finland

  44. Finland’s Industrial Production Has Lagged Behind the Competition Countries Source: Macrobond, The CPB Netherlands Bureau for Economic Policy Analysis Technology Industries of Finland

  45. Latest informationMarch 2019 Source: Markit Industrial Production in China Is MildlyIncreasingPurchase Managers’ Index (PMI) in manufacturingindustry in China Technology Industries of Finland

  46. Latest informationMarch 2019 Source: Markit Industrial Production in Russia Is MildlyGrowingPurchaseManagers’ Index (PMI) in manufacturingindustry in Russia Technology Industries of Finland

  47. Latest informationMarch 2019 Source: Markit Industrial Production in Brazil Is GrowingPurchase Managers’ Index (PMI) in manufacturingindustry in Brazil Technology Industries of Finland

  48. Source: Macrobond Industrial Production in the USA is GrowingPurchase Managers’ Index (PMI) in manufacturingindustry 50 = no changefrompreviousmonth Technology Industries of Finland

  49. Political Uncertainty Destabilises Global Economic Stability - Exchange Rates Are Changing a Lot Source: Macrobond Technology Industries of Finland

  50. Souce: Macrobond Fixed Investments in Brazil Have Returned to Growth Technology Industries of Finland

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