Value of new orders still rising

In 2023, the turnover of companies in the electronics and electrotechnical industry (telecommunications equipment, electrical equipment and medical technology) in Finland declined by approximately five per cent on 2022. Their turnover in Finland amounted to approximately EUR 20 billion in 2023.

In the January–July period of 2024, the turnover of companies in the electronics and electrotechnical industry in Finland was down by ten per cent year-on-year. The combined production volume of the electronics and electrotechnical industry (turnover deflated by the change in producer prices) was eight per cent lower in January–August 2024 than in the corresponding period of last year.

In the July–September period, the value of both new orders and order books increased on the previous quarter. As has been typical for the sector in recent years, order volumes can fluctuate strongly from one quarter to another.

The electronics and electrotechnical companies that took part in Technology Industries of Finland’s survey of order books reported that the monetary value of new orders between July and September was six per cent higher than in the preceding quarter and nine per cent higher than in the corresponding period of 2023.

At the end of September, the value of order books was eight per cent higher than at the end of June and 16 per cent higher than in September 2023.

On the basis of order trends to date, the turnover of electronics and electrotechnical industry companies is expected to start rising over the next six months.

At the end of September, electronics and electrotechnical companies in Finland employed the same number of people as at the end of June. The industry employed approximately 43,100 people in September.