High prices account for turnover growth

Manufacturing turnover increased by nearly 12 percent in July 2008 relative to one year previously. This year, July had an extra working day compared with the same month in 2007. Just as in the two previous months, the turnover increase was entirely caused by higher selling prices.

Within the sector manufacturing industry, the picture is diverse due to the high price levels in the various branches. In July, the petroleum, chemical, rubber and plastics industry realised the largest turnover increase (23 percent). Food, drinks and tobacco and the metal industry realised a turnover growth by more than 7 percent. Turnover in the textiles, clothing and leather industry, on the other hand, decreased by 13 percent, but this contribution to the sector is fairly insignificant.

In July, manufacturers realised a 13 percent higher turnover on the domestic market; turnover on the export market grew by 11 percent relative to one year ago. On the domestic market and foreign market, turnover growth was highest in the petroleum, chemical, rubber and plastic industry.

Manufacturing turnover