1.
Technology industry /
Finnish economic outlook
May 2022
Jukka Palokangas
Head of Economic Affairs
jukka.palokangas@techfind.fi
1
5/30/2022 Technology Industries
of Finland

2.
The Finnish technology industry is comprised of
five sub-sectors
2
5/30/2022 Technology Industries
of Finland
ELEKTRONICS AND ELECTROTECHNICAL
INDUSTRY
ABB, Ensto, Murata Electronics, Nokia,
Planmeca, Polar Electro, Suunto, Vacon,
Vaisala…
METALS INDUSTRY
Boliden, Componenta, Kuusakoski,
Luvata, Outokumpu, Ovako, Sacotec,
SSAB …
MECHANICAL ENGINEERING
Abloy, Cargotec,, Fiskars, Glaston, Kone,
Konecranes, Metso-Outotec,
Meyer Turku, Neles, Normet, Oras, Patria,
Pemamek, Ponsse, Prima Power, Stala,
Valmet, Valtra, Wärtsilä…
INFORMATION TECHNOLOGY
Basware, Bilot, CGI, Digia, Efecte, Enfo, F-
Secure, Fujitsu Finland, IBM, Innofactor,
Knowit, Microsoft, Nixu, TietoEVRY…
CONSULTING ENGINEERING
AFRY, A-Insinöörit, Citec, Elomatic,
Etteplan, FCG, Granlund, Neste Engineering
Solution,, Ramboll, Rejlers, Sitowise,
SWECO, WSP…

3.
The Finnish technology industry is comprised of
five sub-sectors
3
ELEKTRONICS AND ELECTROTECHNICAL
INDUSTRY
• Data communications equipment, electrical
machinery, medical technology
• Turnover (2021): 18.0 billion euros
• Personnel (2021): 39,100
METALS INDUSTRY
• Steel products, non-ferrous metals,
castings, metallic minerals
• Turnover (2021): 14.2 billion euros
• Personnel (2021): 16,000
MECHANICAL ENGINEERING
• Machinery, metal products, vehicles
• Turnover (2021): 34.1 billion euros
• Personnel (2021): 134,200
INFORMATION TECHNOLOGY
• IT services, applications and
programming
• Turnover (2021): 16.5 billion euros
• Personnel (2021): 73,800
CONSULTING ENGINEERING
• Expertise for construction industry and
infrastructure
• Turnover (2021): 7.1 billion euros
• Personnel (2021): 54,300
5/30/2022 Technology Industries
of Finland

4.
The technology industry –
the largest export sector in Finland
4
• Some 50 % of total exports.
• Some 324,000 employed directly in the
sector, including indirect effects 670,000
people.
• Effect on value added totaling € 57 billion,
or 28% of GDP value added (2017 data).
• Bring to Finland € 18 billion tax revenue
annually (2017 data).
• Investments almost EUR 6.0 billion
annually in Finland.
• 65 % of private-sector R&D investment.
5/30/2022 Technology Industries
of Finland

5.
Value added to the economy generated by the
technology industry is EUR 55 billion, or over 28%
of GDP * (2017)
5
28.8, 53%
15.6, 29%
10.1, 18%
A total of EUR 54.5 billion
Impact on technology industry
(direct influence)
Impact on other industries
(indirect influence)
Impact on private consumption
(income effect)
*) GDP value added was EUR 193.3 billion in 2017.
Source: Economic Impact of the Technology Industry in Finland 11/2018
5/30/2022 Technology Industries
of Finland

6.
Technology industry generates nearly 650,000 jobs
in Finland (over 25% of all employees) (2017)
6
304,600, 47%
225,800, 35%
114,600, 18%
A total of 644 900 employees
Impact on technology industry
(direct influence)
Impact on other industries
(indirect influence)
Impact on private consumption
(income effect)
10 jobs in the technology industry bring
11 jobs to the rest of the economy
Source: Economic Impact of the Technology Industry in Finland 11/2018
5/30/2022 Technology Industries
of Finland

7.
Every job in the technology industry generates
almost another job in the services (2017)
7
295,100, 87%
12,200, 3%
33,100, 10%
Impact on other industries and on
private consumption: 340,300 employees
Services*
Primary production
Processing*
*) Excl. the services industries in the technology industry.
Source: Economic Impact of the Technology Industry in Finland 11/2018
5/30/2022 Technology Industries
of Finland

8.
Technology industry generates over 18 billion
euros in tax revenue annually in Finland (2017)
8
9.2, 50%
4.3, 24%
4.7, 26%
A total of EUR 18.2 billion
Impact on technology industry
(direct influence)
Impact on other industries
(indirect influence)
Impact on private consumption
(income effect)
Source: Economic Impact of the Technology Industry in Finland 11/2018
5/30/2022 Technology Industries
of Finland

9.
Turnover of the technology industry in Finland
9
Source: Macrobond, Statistics Finland, Technology Industries of Finland
5/30/2022 Technology Industries
of Finland

10.
10
*) In addition to goods exports the sector exported services worth some 14-15 billion euros.
Source: National Board of Customs, Statistics Finland
Export of tchnology industry goods from Finland
by area in 2021
Total goods exports 36.15 billion euros*
North America
3.10 billion €
8.6 %
Western Europe
20.91 billion €
57.8 %
South and
Middle America
1.17 billion €
3.2 %
Central and Eastern Europe
5.35 billion €
14.8 %
Africa
0.53 billion €
1.5 %
Middle and
Central East
0.33 billion €
0.9 %
Asia
4.76 billion €
13.2 %
5/30/2022 Technology Industries
of Finland

11.
Turnover of the industry and technology industry
in Finland
11
Source: Macrobond, Statistics Finland
5/30/2022 Technology Industries
of Finland

12.
Turnover of the technology industry in Finland
12
Source: Macrobond, Statistics Finland
5/30/2022 Technology Industries
of Finland

13.
Value of new orders in the technology industry* in
Finland
13
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
11,000
12,000
13,000
14,000
15,000
Combined
Export
Domestic
08 09 10 11 12 13 14 15 16 17 18 19 20 21 22
Milion euros, at current prices
Change: I/2022 / I,2021 I,2022 / IV,2021
Export: +17 % -28 %
Domestic: -26 % -19 %
Combined: +5 % -26 %
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent
companies, latest observation January-March 2022.
*) Excl. metals
industry, game
industry and data
center companies
Technology Industries
of Finland
5/30/2022

14.
Value of order books in the technology industry*
in Finland
14
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
22,000
24,000
26,000
28,000
30,000
32,000
34,000
Export
Domestic
08 09 10 11 12 13 14 15 16 17 18 19 20 21 22
Million euros, at current prices
Change: 31.3.2022 / 31.3.2021 31.3.2022 / 31.12.2021
Export: +6 % 0 %
Domestic: +20 % +6 %
Combined: +10 % -8 %
Combined
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent
companies, latest observation 31th March 2022.
*) Excl. metals
industry, game
industry and data
center companies
Technology Industries
of Finland
5/30/2022

15.
Tender Requests* Received by the Technology
Industry Companies in Finland
15
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent companies, the last questionnaire in
April 2022.
-60
-50
-40
-30
-20
-10
0
10
20
30
40
Balance figure
*) ”Have you experienced a notable increase or decrease in the number of requests for tenders in recent weeks in comparison to the situation three
months ago?”. Balance figure = the number of companies receiving more requests - the number of companies receiving less requests.”
Technology Industries
of Finland
5/30/2022
08 09 10 11 12 13 14 15 16 17 18 19 20 21 22

16.
Value of new orders in the electronics and
electrotechnical industry in Finland
16
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
6,000
6,500
7,000
7,500
Combined
Export
Domestic
08 09 10 11 12 13 14 15 16 17 18 19 20 21 22
Million euros, at current prices
Change: I,2022 / I,2021 I,2022 / IV,2021
Export: +9 % -36 %
Domestic: -7 % -19 %
Combined: -4 % +46 %
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent
companies, latest observation January-March 2022.
Technology Industries
of Finland
5/30/2022

17.
Value of order books in the electronics and
electrotechnical industry in Finland
17
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
6,000
6,500
7,000
7,500
8,000
8,500
Export
Domestic
Million euros, at current prices
Change: 31.3.2022 / 31.3.2021 31.3.2022 / 31.12.2021
Export: +8 % -32 %
Domestic: +15 % -7 %
Combined: +9 % -27 %
Combined
08 09 10 11 12 13 14 15 16 17 18 19 20 21 22
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent
companies, latest observation 31th March 2022.
Technology Industries
of Finland
5/30/2022

18.
Value of new orders in the mechanical engineering
in Finland
18
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
6,000
6,500
7,000
7,500
8,000
Combined
Export
Domestic
08 09 10 11 12 13 14 15 16 17 18 19 20 21 22
Million euros, at current prices
Change: I,2022 / I,2021 I,2022 / IV,2021
Export: +20 % -17 %
Domestic: -23 % -5 %
Combined: +10 % -15 %
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent
companies, latest observation January-March 2022.
Technology Industries
of Finland
5/30/2022

19.
Value of order books in the mechanical
engineering in Finland
19
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
22,000
24,000
Export
Domestic
Million euros, at current prices
Change: 31.3.2022 / 31.3.2021 31.3.2022 / 31.12.2021
Export: +13 % -3 %
Domestic: -6 % +1 %
Combined: +9 % -3 %
Combined
08 09 10 11 12 13 14 15 16 17 18 19 20 21 22
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent
companies, latest observation 31th March 2022.
Technology Industries
of Finland
5/30/2022

20.
Value of new orders in the consulting engineering
in Finland
20
0
20
40
60
80
100
120
140
160
180
200
220
240
260
280
300
320
Combined
Export
Domestic
08 09 10 11 12 13 14 15 16 17 18 19 20 21 22
Million euros, at current prices
Change: I,2022 / I,2021 I,2022 / IV,2021
Export: -48 % +82 %
Domestic: +30 % +10 %
Combined: +16 % +14 %
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent
companies, latest observation January-March 2022.
Technology Industries
of Finland
5/30/2022

21.
Value of order books in the consulting engineering
in Finland
21
0
100
200
300
400
500
600
700
800
900
Export
Domestic
Million euros, at current prices
Change: 31.3.2022 / 31.3.2021 31.3.2022 / 31.12.2021
Export: -8 % +14 %
Domestic: +25 % +2 %
Combined: +21 % +3 %
Combined
08 09 10 11 12 13 14 15 16 17 18 19 20 21 22
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent
companies, latest observation 31th March 2022.
Technology Industries
of Finland
5/30/2022

22.
Value of new orders in the information
technology* in Finland
22
0
100
200
300
400
500
600
700
800
900
08 09 10 11 12 13 14 15 16 17 18 19 20 21 22
Million euros, at current prices
Change: I,2022 / I,2021 I,2022 / IV,2021
Combined: -3 % -34 %
*) Excl. game industry and data center
companies
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent
companies, latest observation January-March 2022.
Technology Industries
of Finland
5/30/2022

23.
Value of order books in the information
technology* in Finland
23
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2,200
2,400
Combined
Million euros, at current prices
Change: 31.3.2022 / 31.3.2021 31.3.2022 / 31.12.2021
Combined: +23 % +3 %
08 09 10 11 12 13 14 15 16 17 18 19 20 21 22
*) Excl. game industry and data center
companies
Source: The Federation of Finnish Technology Industries’ order book survey’s respondent
companies, latest observation 31th March 2022.
Technology Industries
of Finland
5/30/2022

24.
Technology Industry Personnel
24
5/30/2022 Technology Industries of
Finland
Source: Statistics Finland, The Federation of Finnish Technology Industries’ labour force survey, Macrobond
1,600 employees affected by
temporary lay-offs 31st
March 2021
31st Mar

25.
Technology industry personnel recruitment in
Finland by quarters
25
-4,000
-2,000
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
Change in the number of personnel compared to the previous quarter Number of people recruited during the quarter
Source: The Federation of Finnish Technology Industries’ labour force survey
Technology Industries
of Finland
5/30/2022

26.
Technology Industry Personnel in Finland by
Industry
26
5/30/2022 Technology Industries of
Finland
Source: Statistics Finland, The Federation of Finnish Technology Industries’ labour force survey, Macrobond
31st Mar

27.
Technology industry personnel in subsidiaries
abroad by industry
27
5/30/2022 Technology Industries of
Finland
Source: The Federation of Finnish Technology Industries’ labour force survey, Macrobond

28.
Technology Industry Personnel in Subsidiaries
Abroad by Country
28
5/30/2022 Technology Industries of
Finland
Source: The Federation of Finnish Technology Industries’ labour force survey
Information from year 2021
China, 47,703, 16%
India, 31,478, 11%
USA, 24,584, 8%
Poland, 19,426, 6%
Germany, 16,774, 6%
Sweden, 14,901, 5%
Mexico, 13,600, 5%
France, 9,973, 3%
UK, 7,625, 3%
Norway, 7,582, 3%
Russia, 7,330, 2%
Brazil, 6,302, 2%
Italy, 6,045, 2%
Other Countries, 84,632, 28%
Ukraine: 2 815

29.
Retirement of technology industry personnel in
Finland
29
0
1000
2000
3000
4000
5000
6000
7000
8000
9000
2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 2030
Salaried employees
Blue collar employees
Individuals per year
Source: Wage inquiry of the Techonology Industries of Finland, Finnish Centre for Pensions, Statistics Finland
Technology Industries
of Finland
5/30/2022

30.
Retirement of technology industry blue collar
employees in Finland
30
0
500
1000
1500
2000
2500
3000
3500
2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 2030
Mechanical engineering Metals industry Electronics and electrotechnical industry
Individuals per year
Source: Wage inquiry of the Techonology Industries of Finland, Finnish Centre for Pensions, Statistics Finland
Technology Industries
of Finland
5/30/2022
Number of individuals retiring
(estimation)
Number of individuals retired

31.
Overview of the situation in the technology
industry and outlook for summer 2022
31
- Turnover in Finland totalled some EUR 90 billion in 2021. Growth from the previous year was
nine percent for the full year. In January-February 2022 turnover was 19 percent higher than
at the same time in 2021.
- The monetary value of new orders reported between January-March 2022 was 26% lower
than in the preceding quarter, but 5% higher than in the corresponding period in 2021.
- At the end of March, the value of order books was 8% lower than at the end of December,
but 10% higher than in March 2021.
- The turnover of the technology industry in Finland is estimated to be higher in the summer
2022 than at the same time last year.
- The number of employees in Finland at the end of March 2022 was nearly three percent
higher than an average in 2021. The number of employees was some 324,000, which is a
good of 8,000 more than an average in 2021.
- Recruitment of new staff was on the strong rise in January-March. There were a total of
14,800 recruitments, compared to 46,500 in the whole year 2021.
5/30/2022 Technology Industries of Finland

32.
World economic outlook
- Finland as a part of global
economy
32
5/30/2022 Technology Industries of Finland

33.
GDP in Euro Area and Finland by quarter
33
Lähde: Macrobond
Technology Industries
of Finland
5/30/2022

34.
Export of goods and services from Finland and
Euro Area by quarter
34
Source: Macrobond, Eurostat
5/30/2022 Technology Industries
of Finland

35.
GDP by demand sector in Finland by quarter
35
Source: Macrobond, Statistics Finland
Technology Industries
of Finland
5/30/2022

36.
GDP in some western countries
36
Souce: Macrobond
Technology Industries
of Finland
5/30/2022

37.
37
Source: Macrobond
GDP in large developing countries
China, India, Brazil and Russia account for 31% of the world economy, adjusted for purchasing power
5/30/2022 Technology Industries
of Finland

38.
Purchasing Manager Indices for the entire
business sector in Finland’s most important export
countries
38
Source: Macrobond. Markit
5/30/2022 Technology Industries
of Finland

39.
Industrial production in some developed countries
39
5/30/2022 Source: Macrobond
Technology Industries
of Finland

40.
Industrial production in some European countries
40
5/30/2022 Source: Macrobond
Technology Industries
of Finland

41.
Industrial production globally
41
Source: Macrobond, The CPB Netherlands Bureau for Economic Policy Analysis
Technology Industries
of Finland
5/30/2022

42.
Purchasing Manager indices for the manufacturing
industries
42
Source: Macrobond, Markit
5/30/2022 Technology Industries
of Finland

43.
Purchasing Manager indices for the manufacturing
industries in major developing countries
43
Source: Macrobond, Markit
5/30/2022 Technology Industries
of Finland

44.
Exchange rates (when the curve rises, the value of the
Euro strengthens against the other currency)
44
Source: Macrobond
5/30/2022 Technology Industries
of Finland

45.
45
Source: Macrobond, The CPB Netherlands Bureau for Economic Policy Analysis
Goods export volume
Technology Industries
of Finland
5/30/2022

46.
Chinese goods imports
46
Source: Macrobond
5/30/2022 Technology Industries
of Finland

47.
EU exports to Russia
47
Source: Macrobond
Technology Industries
of Finland
5/30/2022

48.
Russia’s* share of the technology industry's
Finnish exports
48
*) Soviet Union up to 1991
Source: Finnish Customs
0
2
4
6
8
10
12
14
16
18
20
22
24
26
28
30
32
34
36
38
40
42
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021(1-9)
Technology Industries
of Finland
5/30/2022
%

49.
49
Source: IMF (April 2022)
The global economy is forecast to grow by 3.6% in
2022, after grew by 6.1% in 2021
GDP growth 2022/2021, %
-10
-9
-8
-7
-6
-5
-4
-3
-2
-1
0
1
2
3
4
5
6
7
8
9
10
0 10 20 30 40 50 60 70 80 90 100
North America
Euro countries
and Western
Europe
Japan China
India
Rest
of
Europe
Russia
Brazil
Mexico
Rest
of
Lat.
America
Middle
East
and
Africa
Growth an average:
+3,6 %
The width of the bar indicates the share of global GDP in 2021 (adjusted for purchasing power parity), %
Rest of
Asia
Technology Industries
of Finland
5/30/2022

50.
50
Source: IMF (July 2021)
In the Export Market of the Technology Industry,
Demand Will Increase by 2.5% in 2022
GDP growth 2022/2021, %
0
1
2
3
4
5
6
7
8
9
10
11
12
13
0 10 20 30 40 50 60 70 80 90 100
North America
Western Europe
Japan
China
India
Rest
of
Eastern
Europe
Russia
Brazil
Mexico
Rest
of
Latin
America
Middle
East
and
Africa
Growth an average:
+5.2 %
The width of the bar indicates the export share of technology industry from Finland in 2020, %
Rest
of
Asia
Technology Industries
of Finland
5/30/2022

51.
51
30.5.2022 Teknologiateollisuus Source: IMF (April 2022)
In the Export Market of the Technology Industry,
Demand Will Increase by 2.5% in 2022
GDP growth 2022/2021, %
-10
-9
-8
-7
-6
-5
-4
-3
-2
-1
0
1
2
3
4
5
6
7
8
9
10
0 10 20 30 40 50 60 70 80 90 100
North America Euro countries and
Western Europe Japan
China
India
Rest
of
Europe
Russia
Brazil
Mexico
Rest
of
Lat.
America
Middle
East
and
Africa
Growth an average:
+2.5%
The width of the bar indicates the export share of technology industry from Finland in 2021, %
Rest
of Asia

52.
Finland’s economic growth
relies on exports and
investments
52
Technology Industries
of Finland
5/30/2022

53.
Export of goods and services
53
Source: Macrobond, Eurostat
Technology Industries
of Finland
5/30/2022

54.
54
Source: Macrobond, Eurostat
Central and local government debt and tax ratio in
Finland
Technology Industries
of Finland
5/30/2022

55.
Business investment
55
Source: Macrobond, OECD Economic Outlook

56.
Industrial tangible and intangible investment* in
Finland
56
*) Including software investments.
Source: Statistics Finland (National Accounts), Confederation of Finnish Industries’ Investment Survey January 2022
0
1
2
3
4
5
6
7
05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21e 22e
Tangible investment
Intangible investment
Intangible investment (excl.
electronics industry)
Billion euros, at fixed 2015 prices
5/30/2022 Technology Industries
of Finland

57.
Industrial investment and consumption of fixed
capital in Finland
57
*) Including software investments.
Source: Statistics Finland (National Accounts), Confederation of Finnish Industries’ Investment Survey January 2022
0
1
2
3
4
5
6
7
8
9
10
11
12
05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21e 22e
Tangible and intangible
investment*
Consumption of Fixed
Capital
Billion euros, at fixed 2015 prices
5/30/2022 Technology Industries
of Finland

58.
Industrial production capital loss in Finland
58
Information on consumption of tangible capital is at 2010 prices.
Source: Statistics Finland (National Accounts)
0
5
10
15
20
25
30
35
40
45
50
55
60
05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20
Cumulative consumption
of tangible capital
Cumulative tangible
investment
Billion euros, at fixed 2015 prices
5/30/2022 Technology Industries
of Finland
=6,4 bill. €

59.
Industrial tangible investment
59
Source: Eurostat (National Accounts), Confederation of Finnish Industries’ investment survey, January 2022
60
70
80
90
100
110
120
130
140
150
160
170
180
190
200
210
220
05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21e 22e
Hungary
Poland
Netherlands
Austria
Germany
Chech
Republic
Sweden
Belgium
Finland
Billion euros, at fixed 2015 prices, index 2005=100
5/30/2022 Technology Industries
of Finland

60.
Investment rate in industrial tangible investments
60
Source: Eurostat (National Accounts)
6
8
10
12
14
16
18
20
22
24
26
28
30
32
34
05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20
Hungary
Poland
Netherlands
Austria
Germany
Czech
Republic
Sweden
Belgium
Finland
Tangible investments / value added, %
5/30/2022 Technology Industries
of Finland

61.
Industrial intangible investments
61
*) Intangible investments include research and development and software investments etc.
Source: Eurostat (National Accounts), Confederation of Finnish Industries’ investment survey, January 2021
40
60
80
100
120
140
160
180
200
220
240
260
280
300
05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21e 22e
Unkari
Puola
Alankomaat
Itävalta
Saksa
Tsekki
Ruotsi
Belgia
Suomi, pl.
elektroniikkateollisuus
Suomi
Billion euros, at fixed 2015 prices,
index 2005=100
5/30/2022 Technology Industries
of Finland

62.
Investment rate of industrial intangible
investments*
62
*) Intangible investments include research and development and software investments.
Source: Eurostat (National Accounts)
0
2
4
6
8
10
12
14
16
18
20
22
24
05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20
Hungary
Poland
Netherlands
Austria
Germany
Czech Republic
Sweden
Belgium
Finlans, excl.
electronics industry
Finland
Intangible investments / value added, %
5/30/2022 Technology Industries
of Finland

63.
Productivity* development in Finland
63
5/30/2022 Technology Industries of
Finland
*) Productivity is measured as real value added per hours worked. When productivity grows
(the curve rises) value added grows more than hours worked.
Source: Statistics Finland

64.
64
Latest information July-September 2021.
Source: Eurostat: Quarterly National Accounts
GDP productivity development
GDP at fixed prices / hours worked
82
84
86
88
90
92
94
96
98
100
102
104
106
108
110
112
114
116
118
Euro countries
Sweden
Finland
Germany
Index 2008=100 (the year before the collapse of Finnish industrial production capacity)
5/30/2022 Technology Industries of
Finland

65.
65
Latest information July-September 2021.
Source: Eurostat: Quarterly National Accounts
Industrial productivity development
Industrial value added at fixed prices / hours worked
60
65
70
75
80
85
90
95
100
105
110
115
120
125
130
135
Euro countries
Sweden
Finland
Germany
2008=100 (the year before the collapse of Finnish industrial production capacity)
5/30/2022 Technology Industries of
Finland

66.
66
Source: Macrobond, Eurostat
Corporate investment rate
5/30/2022 Technology Industries
of Finland

67.
67
Finland’s cost competitiveness compared to the
average of Euro countries
Unit labour costs in the whole economy = labour costs / productivity, including the influence of effective
exchange rates
94
96
98
100
102
104
106
108
110
112
2000=100
2005=100
2008=100
Finland’s price
and cost
competitiveness
declines
Finland’s price
and cost
competitiveness
improves
5/30/2022 Technology Industries
of Finland
*) In the ECB Harmonised Competitiveness Index, the average effective exchange rate of each country is calculated vis-à-vis 38
main trade partners, as well as the development of unit labour costs for the total economy.
Latest information July-September 2022. Source: European Central Bank
00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21

68.
Member Companies of the
Federation of Finnish
Technology Industries
68
5/30/2022 Technology Industries
of Finland

69.
The Federation’s Member Companies 2020
69
250–499 employees
73,413
30,658
27,074
55,555
1,456
85 40
24
Number of enterprises / 1 605 Number of personnel / 186 700
1–249 employees 500–999 employees
1000– employees
5/30/2022 Technology Industries
of Finland

70.
The Federation’s SME Member Companies 2020
70
476
484
282
215
Number of enterprises / 1 457 Number of personnel / 73 413
5,052
15,834
19,618
32,909
1–19 employees
20–49 employees
50–99 employees
100–249 employees
5/30/2022 Technology Industries
of Finland

71.
Operating Profit in the Member Companies of
Technology Industries of Finland in 2020
Operating profit-% = operating result / turnover * 100 (before taxes and financial income
and expenses)
71
Source: Statistics Finland
-30
-25
-20
-15
-10
-5
0
5
10
15
20
25
30
(Median: 5,2 %)
Good (30 %)
Satisfactory (22 %)
Weak (26 %)
Unprofitable (22 %)
Companies in random order
5/30/2022 Technology Industries
of Finland

72.
Net Profit in the Member Companies of Technology
Industries of Finland in 2020
Return on assets -% = (net income + financial expenses + taxes) / (capital invested in the financial
year) * 100
72
Source: Statistics Finland
-30
-25
-20
-15
-10
-5
0
5
10
15
20
25
30
(Median: 4,2 %)
Unprofitable (24 %)
Good (25 %)
Satisfactory (21 %)
Weak (30 %)
Companies in random order
5/30/2022 Technology Industries
of Finland

73.
Return on Assets in the Member Companies of
Technology Industries of Finland in 2020
Equity ratio -% = (total equity + total appropriations accrued) / adjusted balance sheet *
100
73
Source: Statistics Finland
-30
-25
-20
-15
-10
-5
0
5
10
15
20
25
30
(Median: 11,9 %)
Good (43 %)
Unsatisfactory (11 %)
Mediocre (26 %)
Weak (20 %)
Companies in random order
5/30/2022 Technology Industries
of Finland

74.
Equity Ratio in the Member Companies of
Technology Industries of Finland in 2020
Equity ratio -% = (total equity + total appropriations accrued) / adjusted balance sheet *
100
74
Source: Statistics Finland
0
5
10
15
20
25
30
35
40
45
50
55
60
65
70
75
80
85
90
95
100
(Median: 44,9 %)
Good (56 %)
Satisfactory (23 %)
Weak (21 %)
Companies in random order
5/30/2022 Technology Industries
of Finland