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Industry revenue of »sawmilling and planing of wood« in Finland 2011-2023

For long, Finland’s independent wood sawmilling industry has been one of the key sectors of the national economy, having delivered consistent profits to companies such as UPM-Kymmene, Stora Enso and Metsa Group. However, over the last few years, an increasingly competitive global market has resulted in an industry slowdown. The future is expected to be much the same with revenues expected to witness only marginal increase from 5 billion U.S. dollars in 2018 to 5.3 billion U.S. dollars in 2023.

One of the main reasons for this is a consistent fall in prices. The decline in wood raw material costs have not been commensurate with the falling prices of lumber, thereby resulting in depleted margins for industry players. In fact, according to the Wood Resource Quarterly (WRQ) that has been tracking wood costs, product prices and margins since 2005, companies suffered their worst ever profits in the third quarter of 2019.

Industry revenue of »sawmilling and planing of wood« in Finland from 2011 to 2023

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Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Finland. The industry “sawmilling and planing of wood“ has the code “C161“.

Details on the methodology can be found here.

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Statistics on "Economic Outlook Finland"

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