Sunday. 02.10.2022
ENTERPRISES

Foreign companies located in Finland increase turnover and staff

Swedish companies generate the highest turnover and employ the most people among foreign affiliates.

Reception-receptionist-company-building-by-Pixabay

Turnover and the number of people employed by foreign companies located in Finland increased in 2019.

According to Statistics Finland's data, the number of foreign companies with a presence in Finland increased slightly, to 1.440. Manufacturing was the most significant industry measured by the number of personnel and turnover.

Overall, foreign enterprises generated 98 billion euros in turnover in 2019, which is 2% more than in the previous year.

The largest turnover was generated by Swedish, German, American, Danish and British enterprises.

Foreign enterprises employ nearly 18.2% of the personnel in enterprises in Finland. This share rose also slightly from the year before.

The share of turnover of foreign companies (in relation with the total number of enterprises operating the country) remained unchanged at 22.8%. However, the shares vary considerably by industry, from 7 to 40%.

Thus, foreign enterprises in information and communication activities, and mining and quarrying produced most turnover relative to the total enterprise stock. The companies engaged in human health and social work activities, and mining and quarrying employed most.

foreign-affiliates-enterprises-companies-2019

Number of employees

The picture is slightly different when looking at the number of personnel and turnover instead of the shares. Measured in this way, the most significant industries are manufacturing, and wholesale trade and retail trade.

Manufacturing employed 78,700 persons, or 28% of employees in foreign enterprises and its turnover was 33 billion euros. Wholesale and retail trade employed 50,700 persons and its turnover amounted to 32 billion euros.

The nationality of an enterprise is defined based on the institutional unit that controls it. Usually this is an enterprise located abroad that owns over 50% of the enterprise, either directly or indirectly.

Swedish enterprises clearly own the largest share of the affiliates located in Finland. Swedish enterprises also employ most people among foreign affiliates, 75,600 persons, which was around 2% fewer than in the year before. Also measured by turnover, Swedish enterprises are most significant with 21 billion euros.

Foreign companies located in Finland increase turnover and staff
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