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Finnish enterprises look to east

Staff Writer |
Finnish enterprises had business activity in 4,880 affiliates located in 140 countries in 2015.

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The number of personnel abroad contracted slightly from the previous year, being 478,160 and centred in Europe and Asia.

The investments of Finnish affiliates grew from the previous year to EUR 4.2 billion and the most significant investment target was China.

Manufacturing accumulated 63 per cent of Finnish enterprises’ foreign turnover.

The data appear from the statistics on Finnish affiliates abroad 2015 published by Statistics Finland and are based on data collected from enterprises.

Finnish affiliates abroad employed the largest number of personnel in EU countries, altogether 217,640 persons.

Measured by the number of employees, the most significant industries in EU countries were the machinery and metal industry with nearly 39,980 employees and wholesale and retail trade with good 31,540 employees.

Affiliates in Asia and Oceania were the second most significant employer of personnel with 116,570 persons.

In Asia and Oceania the biggest employers among manufacturing industries were the electrical and electronics industry with 46,170 persons and the machinery and metal industry with 38,320 persons.

As in the previous year, Sweden was the most significant employer country of Finnish affiliates abroad with 57,070 employees.

Finnish affiliates abroad invested nearly EUR 4.2 billion gross into their tangible goods. Sixty-two per cent of the investments were made in Europe and 26 per cent in Asia and Oceania.

The manufacturing industry was globally the most significant investment target for Finnish enterprises abroad, amounting to nearly EUR 2.5 billion. Affiliates in the paper industry invested EUR 447 million in EU countries and EUR 633 million in Asia and Oceania.

The chemical industry became the most significant investment target for American affiliates, being EUR 118 million in North America and EUR 52 million in Central and South America. Of individual countries, most was invested in China, EUR 755 million.

The combined total turnover of Finnish affiliates located abroad amounted to close on EUR 134.2 billion. The figure describes unconsolidated turnover, in other words, it includes, for instance, intra-group trade.

Nearly one-half of the turnover was generated in EU countries and 19 per cent in Asia and Oceania. In the affiliates located in EU countries, most turnover was generated in the paper industry, EUR 13.8 billion, and in wholesale and retail trade, EUR 12.3 billion.

In Asia and Oceania, the electronics and electrical industry was with EUR 8.2 billion the most significant industry measured by turnover.

Globally, the manufacturing industry generated most turnover for Finnish enterprises, EUR 84.5 billion and wholesale and retail trade, EUR 24.4 billion. Examined by country, most turnover was accumulated in Sweden, EUR 25.5 billion. â– 

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