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Industry revenue of »engineering activities, related technical consultancy« in Finland 2011-2023

The revenues of engineering activities and related technical consultancy in Finland have grown from 4.7 billion U.S. dollars in 2014 to 5.8 billion U.S. dollars in 2019. Key drivers include a growing civil engineering market, growth in utility projects and a rise in building constructions. As a result, the number of employees working in the construction industry have grown from 150,000 in 2010 to over 166,000 in 2016.

As per the initial projections, the sector was forecast to achieve nine percent growth between 2019-2023. However, the outbreak of the corona virus has disrupted majority of the industry operations and thus the sector is unlikely to witness the projected growth. In fact, it may exhibit negative growth in the short term, as the findings of a March 2020 survey conducted by the Confederation of Finnish Industries revealed that 77 percent of the construction companies expect a negative impact on their business in the short term.

Helsinki to Moscow in 6 hours

The Finnish government is planning to launch a high-speed rail corridor between Helsinki to Moscow, which is expected to cut travel time from 15 hours to just 6 hours. As per officials, this would boost the flow of tourists in both directions. It is expected to be built by 2026.

Industry revenue of »engineering activities, related technical consultancy« in Finland from 2011 to 2023

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Sources

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 “engineering activities and related technical consultancy“ has the code “M7112“.

Details on the methodology can be found here.

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