Finnish technology industry, April 2017

1

Technology Industry /Finnish Economic Outlook

April 2017

05/02/2023 Technology Industries of Finland

2

The Finnish Technology Industry Is Comprised of Five Sub-Sectors


ELEKTRONICS AND ELECTROTECHNICAL INDUSTRYABB, Ensto, Microsoft Mobile, Murata Electronics, Nokia, Planmeca, Polar Electro, Suunto, Vacon, Vaisala…

METALS INDUSTRYBoliden, Componenta, Kuusakoski, Luvata, Outokumpu, Outotec, Ovako, Sacotec, SSAB …

MECHANICAL ENGINEERINGAbloy, Cargotec, Finn-Power, Fiskars, Glaston, Kone, Konecranes, Metso, Meyer Turku, Normet, Oras, Patria, Pemamek, Ponsse, Stala, Valmet, Valtra, Wärtsilä…

INFORMATION TECHNOLOGYAffecto, Basware, Bilot, CGI, Comptel, Digia, Efecte, Enfo, F-Secure, Fujitsu Finland, IBM, Innofactor, Knowit, Microsoft, Nixu, Tieto…

CONSULTING ENGINEERINGA-Insinöörit, Citec, Elomatic, Etteplan, FCG,Granlund, Neste Jacobs, Pöyry, Ramboll,Rejlers, SITO, SWECO, WSP…

3

The Finnish Technology Industry Is Comprised of Five Sub-Sectors

ELEKTRONICS AND ELECTROTECHNICAL INDUSTRY• Data communications equipment, electrical

machinery, medical technology• Turnover (2016): 14.3 billion euros• Personnel (2016): 38,000

METALS INDUSTRY• Steel products, non-ferrous metals,

castings, metallic minerals

• Turnover (2016): 8.7 billion euros• Personnel (2016): 15,400

MECHANICAL ENGINEERING• Machinery, metal products, vehicles• Turnover (2016): 28.2 billion euros• Personnel (2016): 122,400

INFORMATION TECHNOLOGY• IT services, applications and programming• Turnover (2016): 11.4 billion euros• Personnel (2016): 60,400

CONSULTING ENGINEERING• Expertise for construction industry and

infrastructure • Turnover (2016): 6.0 billion euros • Personnel (2016): 49,800


The Technology Industry – the Largest Export Sector in Finland

4

• 50 % of total Finnish exports.• Companies invest about EUR 5.5 billion

annually in Finland.• 70 % of private-sector R&D investment.• Almost 290,000 employed directly in the

sector, 700,000 employed in total, equalling about 30% of the entire Finnish labour force.

• Technology Industries of Finland has over 1,600 member companies.


Turnover of the Technology Industry in Finland

5Source: Macrobond, Statistics Finland, Technology Industries of Finland 05/02/2023 Technology Industries of Finland

Billion euros, at current prices

0

4

8

12

16

20

24

28

32

36

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Electronics and electrotechnical industryMechanical engineeringMetals industryConsulting engineeringInformation technology

6*) In addition to goods exports the sector exported services worth some 12.3 billion euros (2015).Source: National Board of Customs, Statistics Finland

Export of Technology Industry Goods from Finland by Area in 2016Total goods exports 25.2 billion euros*

North America2.5 billion €9.8 %

Western Europe13.7 billion €53.9 %

South and Middle America0.8 billion €3.2 %

Central and Eastern Europe3.8 billion €15.0 %

Africa0.4 billion €1.7 %

Middle and Central East0.5 billion €1.8 %

Asia3.7 billion €14.6 %


Technology, Forest and Chemical Industries Provide 80 % of Finland's Goods and Services Exports Revenue Goods and service exports: billion euros and the share of Finnish exports in 2016*

7*) Service exports industry-specific data for the year 2015. Source: Board of Customs, Statistics Finland (National Accounts, Foreign trade in services)

Technology industry50%

Forest industry15%

Chemical industry15%

Other sectors20%


Turnover of the Industry and Technology Industry in Finland

8Source: Macrobond, Statistics Finland

Index 2005=100 Change: 1-1,2017 / 1 -1,2016, %

90

95

100

105

110

115

120

125

130

135

140

Technology Industry14 %Industry13 %

Latest information: January, 20172005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017


Turnover of the Technology Industry in Finland

9

Index 2005=100 Change: 1-1,2017 / 1 -1,2016, %

50

70

90

110

130

150

170

190

210

230

250

270

Electronics andElectrotechnical Industry21 %

Mechanical Engineering19 %Metals Industry22 %

Consulting Engineering13 %

Information Technology10 %

Latest information: January, 20172005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Source: Macrobond, Statistics Finland05/02/2023 Technology Industries of Finland

Value of New Orders in the Technology Industry* in Finland

10Source: The Federation of Finnish Technology Industries’ order book survey’s respondent companies, last observation October-December 2016

01,0002,0003,0004,0005,0006,0007,0008,0009,000

10,00011,00012,00013,000

Combined

Export

Domestic

2008 2009 2010 2011 2012 2013 2014 2015 2016

Million euros, at current prices

Change: IV,2016 / IV,2015 IV,2016 / III,2016Export: -2 % +20 %Domestic: 0 % +30 %Combined: -1 % +23 %

*) Excluding metals industry and game industry companies

Technology Industries of Finland

05/02/2023

Value of Order Books in the Technology Industry* in Finland

11Source: The Federation of Finnish Technology Industries’ order book survey’s respondent companies, last observation 31.12.2016

02,0004,0006,0008,000

10,00012,00014,00016,00018,00020,00022,00024,00026,000

Domestic

Export

2008 2009 2010 2011 2012 2013 2014 2015 2016


Change: 31.12.2016 / 31.12.2015 31.12.2016 / 30.9.2016Export: -3 % +2 %Domestic: -7 % +1 %Combinedä: -4 % +2 %

*) Excluding metals industry and game industry companies

Combined


05/02/2023

Tender Requests* Received by Technology Industry Companies in Finland

12

*) 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.Source: The Federation of Finnish Technology Industries’ order book survey’s respondent companies, last observation January 2017

-60

-50

-40

-30

-20

-10

0

10

20

30

40

Balance figure

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017


05/02/2023

Value of New Orders in the Electronics and Electrotechnical Industry in Finland

13

0500

1,0001,5002,0002,5003,0003,5004,0004,5005,0005,5006,0006,5007,0007,5008,000

Combined

Export

Domestic

2008 2009 2010 2011 2012 2013 2014 2015 2016


Change: IV,2016 / IV,2015 IV,2016 / III,2016Export: -5 % +16 %Domestic: -21 % -8 %Combined: -9 % +11 %

Source: The Federation of Finnish Technology Industries’ order book survey’s respondent companies, last observation October-December 2016


05/02/2023

Value of Order Books in the Electronics and Electrotechnical Industry in Finland

14

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

Export

Domestic


Change: 31.12.2016 / 31.12.2015 31.12.2016 / 30.9.2016Export: -2 % +9 %Domestic: -15 % -15 %Combined: -4 % +4 %

Combined

2008 2009 2010 2011 2012 2013 2014 2015 2016

Source: The Federation of Finnish Technology Industries’ order book survey’s respondent companies, last observation 31.12.2016


05/02/2023

Value of New Orders in the Mechanical Engineering in Finland

15

0500

1,0001,5002,0002,5003,0003,5004,0004,5005,0005,500

Combined

Export

Domestic

2008 2009 2010 2011 2012 2013 2014 2015 2016


Change: IV,2016 / IV,2015 IV,2016 / III,2016Export: +1 % +26 %Domestic: +22 % +55 %Combined: +6 % +32 %



05/02/2023

Value of Order Books in the Mechanical Engineering in Finland

16

01,0002,0003,0004,0005,0006,0007,0008,0009,000

10,00011,00012,00013,00014,00015,00016,000

Export Domestic


Change: 31.12.2016 / 31.12.2015 31.12.2016 / 30.9.2016Export: -4 % 0 %Domestic: -7 % +5 %Combined: -4 % +1 %

Combined

2008 2009 2010 2011 2012 2013 2014 2015 2016



05/02/2023

Value of New Orders in the Consulting Engineering in Finland

17

0

50

100

150

200

250

300

350

Combined

Export

Domestic

2008 2009 2010 2011 2012 2013 2014 2015 2016


Muutos: IV,2016 / IV,2015 IV,2016 / III,2016Vientiin: +9 % -62 %Kotimaahan: +13 % +22 %Yhteensä: +13 % -2 %

Source: The Federation of Finnish Technology Industries’ order book survey’s respondent companies, last observation October-December


05/02/2023

Value of Order Books in the Consulting Engineering in Finland

18Source: The Federation of Finnish Technology Industries’ order book survey’s respondent comnpanies, last observation 31.12.2016

050

100150200250300350400450500550600650700750

Export Domestic

2008 2009 2010 2011 2012 2013 2014 2015 2016


Change: 31.12.2016 / 31.12.2015 31.12.2016 / 30.9.2016Export: +67 % -1 %Domestic: +4 % +1 %Combined: +14 % 0 %

Combined


05/02/2023

Value of New Orders in the Information Technology in Finland

19

050

100150200250300350400450500550600650700750800

2008 2009 2010 2011 2012 2013 2014 2015 2016


Change: IV,2016 / IV,2015 IV,2016 / III,2016Combined: -2 % +52 %

Source: The Federation of Finnish Technology Industries’ order book survey’s respondent companies, last observation October-December 2016


05/02/2023

Value of Order Books in the Information Technology* in Finland

20

0200400600800

1,0001,2001,4001,6001,800

2008 2009 2010 2011 2012 2013 2014 2015 2016


Change: 31.12.2016 / 31.12.2015 31.12.2016 / 30.9.2016Combined: -6 % +5 %

*) Excluding game industry companies



05/02/2023

Technology Industry Personnel in Finland and Abroad

21Source: Statistics Finland, The Federation of Finnish Technology Industries’ labour force survey

2008 2009 2010 2011 2012 2013 2014 2015 2016150,000

170,000

190,000

210,000

230,000

250,000

270,000

290,000

310,000

330,000

350,000

Personnel in Finland Personnel in subsidiaries abroad

Some 11,000 of personnel affected by temporary or part-time lay-offs 31.12.2016


05/02/2023

Technology Industry Personnel in Finland by Branch

22

0

25000

50000

75000

100000

125000

150000

175000

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Electronics and electrotechnical industryMechanical engineering

Metals industryConsulting engineering

Information technology

Source: Statistics Finland, The Federation of Finnish Technology Industries’ labour force survey, Macrobond05/02/2023 Technology Industries of Finland

Technology Industry Personnel in Subsidiaries Abroad by Branch

2305/02/2023 Source: The Federation of Finnish Technology Industries’ labour force survey

0

25000

50000

75000

100000

125000

150000

175000

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Electronics and Electrotechnical IndustryMechanical engineering

Metals industryConsulting engineering

Information technology


Retirement of Technology Industry Personnel in Finland

24

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

0

1000

2000

3000

4000

5000

6000

7000

8000

9000

Number of individuals retired Number of individuals retiring (estimation)

Salaried employees

Blue collar employees

Individuals per year

Source: Wage inquiry of the Techonology Industries of Finland, Finnish Centre for Pensions, Statistics FinlandTechnology Industries of Finland

05/02/2023

Retirement of Technology Industry Blue Collar Employees in Finland

25

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

0

500

1000

1500

2000

2500

3000

3500

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 FinlandTechnology Industries of Finland

05/02/2023

Overview of the Situation in the Technology Industry and Outlook for Early 2017

26

- Turnover in Finland totalled some EUR 68.7 billion in 2016. This is about half per cent higher than in 2015. In January 2017 turnover was 14 % higher than last year at the same time. In 2008, prior to the financial crises, the corresponding figure was EUR 86 billion. - The monetary value of new orders reported between October-December 2016 was 23 % higher than in July-September, but slightly lower than in the corresponding period in 2015. - At the end of December, the value of order books was two per cent higher than at the end of September, but four per cent lower than in December 2015. - The turnover of technology industry companies in early 2017 is expected to be higher than in the corresponding period last year. - The number of personnel in Finland continued to fall slightly in 2016. Personnel declined by some one per cent, or by 2,500 employees from the average number in 2015. On average, the industry employed 286,000 people in 2016. In 2008, the industry employed a total of 326,000 people in Finland.

05/02/2023

l


World Economic Outlook- Finland as a Part of Global Economy


GDP Has Grown in Europe and the USA, but only Slightly in Finland

2805/02/2023 Lähde: MacrobondTechnology Industries of Finland

Index 2005=100

90

95

100

105

110

115

120

125

130

Latest information: 2017 Q12005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

SwedenEstoniaUSAGermanyUKFranceSpainFinland

2905/02/2023 Lähde: Macrobond

Growth is Lowering in China, Remaining Fast in India, Recession Continues in Brazil Share of global GDP in China, Brazil and Russia is 23%, in China 16% (adjusted for PP)


GDP change over the previous year, %

-15

-10

-5

0

5

10

15

20


IndiaChinaBrazilRussia

3005/02/2023 Latest information March 2017 Source: Markit

GDP Growth in the Euro Area Has Picked up During the last Months Purchase Managers’ Index (PMI), 50 = no change from previous month


31

Industrial Production Volume

05/02/2023 Source: MacrobondTechnology Industries of Finland

Index 2008=100

65

70

75

80

85

90

95

100

105

110

Latest information: February, 20172008 2009 2010 2011 2012 2013 2014 2015 2016 2017

USAEU countriesJapanFinland

Industrial Production Volume in the EU Countries

3205/02/2023 Source: MacrobondTechnology Industries of Finland

Index 2008=100

70

80

90

100

110

120

130

140

150

Latest information: February, 20172008 2009 2010 2011 2012 2013 2014 2015 2016 2017

PolandEstoniaBelgiumAustriaGermanySwedenSpainItalyFinland

Industrial Production is Growing in Particular in Emerging Countries

3305/02/2023 Source: Macrobond, The CPB Netherlands Bureau for Economic Policy AnalysisTechnology Industries of Finland

Index 2008=100

80

90

100

110

120

130

140

150

Latest information: January 20172008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Emerging countriesWorldDeveloped countries


Industrial Production in China is Growing Purchase Managers’ Index (PMI) in manufacturing industry in China



Industrial Production in Russia is Growing Purchase Managers’ Index (PMI) in manufacturing industry in China



Industrial Production in Brazil Will Not Diminish Much Longeris Decreasing Purchase Managers’ Index (PMI) in manufacturing industry in China


37Source: Macrobond

Industrial Production in USA is GrowingPurchase Managers’ Index (PMI) in manufacturing industry 50 = no change from previous month

323436384042444648505254565860

Latest information: March, 20172005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017


05/02/2023

38Source: Macrobond

Growth of Residence Construction Has Lowered in China Share of China in Asian GDP is 42% (adjusted for PP)


05/02/2023

Change over previous year, %

-5

0

5

10

15

20

25

30

35

40

Latest information: February 20172005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

39Souce: Macrobond

Fixed investment in Brazil Continue to DecreaseShare of Russia in European GDP is 13 % (adjusted for PP) Share of Brazil in Latin American GDP is 35 % (adjusted for PP)


05/02/2023

Change over previous year, %

-20

-16-12

-8-4

048

12162024

2832

Latest information: 2016 Q42008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Russia Brazil

40Source: Macrobond, The CPB Netherlands Bureau for Economic Policy Analysis

World Trade Has Picked up Again Import volume development


05/02/2023

Index 2008=100

80

90

100

110

120

130

140

Latest information: January 20172008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Emerging AsiaEmerging countriesWorldDeveloped countries

Imports to China Have Again Increased from Several Countries

41Source: MacrobondTechnology Industries of Finland

05/02/2023

US dollars, at current prices, 3 month moving sum, change over previous year, %

-60

-40

-20

0

20

40

60

80

100

120

Latest information: March 20172008 2009 2010 2011 2012 2013 2014 2015 2016 2017

North AmericaIndonesiaTaiwanSouth KoreaJapanEU countriesIndia

Exports from EU Countries to Russia Have Fallen, but Stabilized

42Source: MacrobondTechnology Industries of Finland

05/02/2023

Export value in each countries's own currency, 12 months sliding sum, index 2005 = 100

0

50

100

150

200

250

300

350

400

450

Latest information: February 20172005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

EstoniaUKBelgiumAustriaFranceGermanyItalyNetherlandsSwedenNorwayDenmarkFinland

Russia’s Share* of Technology Industry Exports from Finland Lowered to Some Five Per Cent During 2015-2016

43*) Soviet Union up to 1991Source: Finnish Customs

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

048

1216202428323640


05/02/2023

44Source: IMF (January 2017)

Global Economy is Expected to Grow by 3,4 % in 2017 GDP growth in 2017, %

0 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85 90 95 100-4-3-2-10123456789

North AmericaWestern Europe

Japan

China India

Rest

of

East

ern

Euro

pe

Russ

ia

Braz

il Mex

ico Rest

of L

atin

A,

mer

ica

Mid

dle

East

an

d Af

ricaAverage growth:

+3,4 %

The width of the bar indicates the share of global GDP in 2015 (adjusted for purchasing power parity), %

Rest of Asia


45Source: IMF (January 2017), Board of Customs

Demand in the Finnish Technology Industry Export Market is Expected to Grow by 2.2 % in 2017 GDP growth 2017 / 2016, %

0 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85 90 95 100-4-3-2-10123456789

North AmericaWestern Europe

Japan

ChinaIndia

Rest ofAsia Re

st o

f Ea

ster

n Eu

rope

Russ

ia Braz

ilRe

st o

f Lat

in A

mer

icaM

iddl

e Ea

st a

nd A

frica

Average growth: +2.2 % M

exico

The width of the bar indicates the export share of technology industry from Finland in 2015, %05/02/2023 Technology Industries

of Finland

Finland’s Economic Growth Relies on Exports and Investments

46Technology Industries of Finland

05/02/2023

47Source: Macrobond, Eurostat

Finnish Exports up to EUR 30 Billion Short of Annual Target Level


05/02/2023

Export of goods and services by quarter, billion euros at current prices

Exports neededto avoid extrarunning intodebt in thepublic sector

10

12

14

16

18

20

22

24

26

28

30


Exportsrealized

Finnish Exports Lagging Behind Competitors

48Source: Macrobond, EurostatTechnology Industries of Finland

05/02/2023

Export of goods and services by quarter, billion euros, at current prices, index 2005=100

75

100

125

150

175

200

225

250

275


PolandEstoniaCzech RepublicGermanySpainBelgiumSwedenFinland

Export Growth is Limited Because Industrial Production Has Decreased by 20% Investments are vital for the production and export recovery

49

707580859095

100105110115120125

5500%

6000%

6500%

7000%

7500%

8000%

8500%

9000%

9500%

10000%

Industrial pro-duction ability (production with capacity in full use), left. Scale

Industrial pro-duction (2008=100), left scale

Capacity utiliza-tion rate, %, right scale-20 %

2008 2009 2010 2011 2012 2013 2014 2015 2016

-20 %

Source: Statistics Finland / National Accounts, Industrial volume indexTechnology Industries of Finland

05/02/2023

50Source: Macrobond, Eurostat

Growth of Public Expenditures, Debt and Tax Ratio in Finland Increased cost burden requires cuts to public sector


05/02/2023

Central and local government debt and public expenditures, billion euros, at nominal prices

0

10

20

30

40

50

60

70

80

90

100

110

120

39,5

40,0

40,5

41,0

41,5

42,0

42,5

43,0

43,5

44,0

44,5

45,0

45,5

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Total tax ratio, % of GDPright axisCentral government debt,left axisPublic expenditures, during the quarter,left axisLocal government debt,left axis

Latest information: 2016 Q3

Business Investment in Finland Should Grow more Strongly than Predicted, the Current Development Is Inadequate

51Source: OECD, Economic Outlook (November 2016)

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016e 2017e 2018e859095

100105110115120125130135140145150155 Corporate sector fixed investments, index 2005=100

Sweden

the Netherlands

USA

Germany

Switzerland

Finland


05/02/2023

52Source: Statistics Finland (National Accounts, Confederation of Finnish Industries’ Investment Survey (February 2017)

Industrial and Technology Industry Companies’ Investment Plans Indicate a Weak Economic Growth Industrial fixed and R&D investments in Finland

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016e 2017e0

1,0002,0003,0004,0005,0006,0007,0008,0009,000

10,00011,00012,000

Manufacturing industry Technology industry, including information technology and consulting engineering



05/02/2023

Investments and productivity* are Decisive for Finland’s Success Productivity of export sector is 10 % lower than in 2007-2008, productivity of entire national economy is 3 % lower

53*) Productivity is measured as real value added per hours worked. When productivity grows (the curve rises) value added grows more than hours worked. Value added = turnover – purchasing of materials and servicesValue added = labour costs + rents + depreciations + profits Source: Statistics Finland / National Accounts

Index 2005=100

75

80

85

90

95

100

105

110

115

120

125

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Manufacturing industryTechnology industryTotal economy


05/02/2023

54*) 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 October-December 2016. Source: European Central Bank

Price and Cost Competitiveness in Finland Is still 14 % Waker than in Germany Compared to 2005Unit labour costs in the whole economy = labour costs / productivity, including the influence of effective exchange rates

90

95

100

105

110

115

120

125

Compared to Austria Compared to Belgium Compared to GermanyCompared to Spain Compared to Finland Compared to FranceCompared to Italy Compared to the Netherlands Compared to Portugal

2005,I =100Finland’s price and cost competitiveness declines

Finland’s price and costcompetitiveness improves


2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

What Should Be Done in Finland?

55

• Support the renewal of the industry.

• Taxes should support growth and investment in Finland.

• Support decision making in companies related to compensation and working time

• No new European nor national burdens on companies, which are deteriorating the competitiveness.


05/02/2023

Long-Term Outlook and Challenges

56

• Global Structural Change Set to Continue Apaceo Industrial production and services will relocate to rapidly developing economic areaso Strong growth, large markets, cheap labour and increasing expertise will increase the

attractiveness of these regions.• Competition over Skills and Raw Materials Set to Increase

o Due to an increase in retirement, the sector’s annual recruitment need in Finland will rise considerably in the coming years.

o The availability of reasonably-priced energy also threatens to become an investment bottleneck in Finland

• Combating Climate Changeo A challenge as costs are set to grow faster than in competitor countries o An opportunity for new environmental and energy technologies


05/02/2023

Teknologiateollisuus


5705/02/2023

The Federation’s Member Companies 2015

58

250–499 employees

7100639%

2762815%

2592514%

5754032%

1438 92 %

77 5 %

38 2 % 24

1 %

Number of enteprises / 1 577 Number of personnel / 182 099

1–249 employees 500–999 employees1000– employees


05/02/2023

The Federation’s SME Member Companies 2015

59

493

34%

473 33 %

272

19%

200

14%

Number of enterprises / 1 438 Number of personnel / 71 006

51317%

1506021%

1906927%

3174645%

1–19 employees20–49 employees

50–99 employees100–249 employees


Economy & Finance

Finnish technology industry, April 2017