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Industry revenue of »manufacture of communication equipment« in Finland 2011-2023

Although demand for communication equipment such as radio and TV broadcasting equipment, satellites, antennas, global positioning systems and mobile phones, is witnessing a surge in Finland, domestic manufacturers haven’t really been able to capitalize on it. Owing to the high tariff rates, costly production facilities, high cost of raw materials and cost overruns, majority of the manufacturing operations are increasingly shifting to lower cost bases such as China and India to name a few. To give this some perspective, Nokia, one of the leading telecommunications companies in the world headquartered in Espoo, has shifted production operations to countries like China, India and South Korea, after realising financial gains worth nearly one billion U.S. dollars.

Therefore it isn’t surprising to see China emerge as the global leader, with communications equipment exports valued at over 1.3 trillion yuan in 2015. As a result, revenues of the Finnish communication equipment manufacturing industry have fallen drastically from 31.2 billion U.S. dollars in 2011 to 0.7 billion U.S. dollars in 2019. The future does not augur well for the industry either, as it is expected to be defunct in the short term. As a matter of fact, a declining trend can be observed in a majority of the European nations including Germany, Norway and Hungary, to name a few.

Industry revenue of »manufacture of communication equipment« 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 “manufacture of communication equipment“ has the code “C263“.

Details on the methodology can be found here.

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Statistics on "Economic Outlook Finland"

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