2020 did not end well for large Finnish companies, which had to operate in a scenario marked by the coronavirus crisis and by the consequent drops in sales and turnover in most businesses.
In monthly terms, the turnover of large enterprises contracted by 1.3% in December 2020 compared with November, according to Statistics Finland's data. In November, turnover fell by 0.1%, while in October, turnover was 0.3% higher than in the month before.
Source: Statistics Finland.
Total decline in 2020
Year-on-year data better shows that 2020 was a lost year for large companies.
In year-on-year terms, the turnover of large enterprises fell by 2.6% compared with December 2019. In fact, Finnish large companies only saw billing drops during the year, recording the biggest falls in April, May and August.
In total, the turnover of large enterprises decreased by 6.4% in 2020.
Most significant enterprises
The turnover estimate of large enterprises is based on a sample formed of 2,000 enterprises with the most significant turnover in manufacturing, construction, trade and other service industries.
Excluded from the statistics are enterprises engaged in primary production, and bank and insurance activities.
The enterprises described in the statistics make up approximately 70% of the turnover of all enterprises operating in Finland, represent more than one-half of the investments made and employ good 40% of the personnel of all enterprises.