The situation in business sector improved last year

Compared to 2009, profits increased in most economic activities. About a third of total profit of business sector gave manufacturing. The threefold growth in this activity was mainly supported by export. The crop and animal production as well as education activities were in loss.

In 2010, enterprises sold goods and services for 35.3 billion euros (552 billion kroons), which was a tenth more than a year earlier. The net sales of wholesale and retail trade and manufacturing, which have the biggest share in gross net sales in total business sector, increased 6% and 26%, respectively. The biggest growth in net sales was in forestry and logging (77%) and decrease occurred in construction (15%).

Compared to the 2009, the enterprises’ total costs increased 8%. The personnel expenses decreased 7% as well as the number of persons employed and the number of hours worked. It has continually increased the growth of the productivity indicators (labour, hour and personnel cost productivity). The labour productivity (total productivity divided by number of persons employed) of business sector increased 18%, at the same time the average labour costs per person employed stayed on the level of 2009. The enterprises value added amounted 6.2 billion euros (96.3 billion kroons) in 2010, which was by a tenth bigger than a year earlier.

The investment activeness of enterprises was continually low. In 2010, enterprises invested 1.5 billion euros (23.9 billion kroons), which is a fourth less than in 2009. The structure of investments has changed. If in the previous years the biggest investments were made in the construction and alteration of buildings, then in 2010 about a half of total investments were made in other equipment and machinery. The major investors were energy, manufacturing and transportation and storage enterprises with a half of the total investments of enterprises. Compared to 2009, investments increased only in other equipment and machinery (25%). Other investments decreased.

The growth in net sales of business sector, which started to increase in the 2nd quarter of 2010 quickened in the 4th quarter. In the 4th quarter, the enterprises’ net sales of goods and services totalled 9.7 billion euros (152 billion kroons), which was 21% more than in the same period a year earlier (in the 2nd and 3rd quarter the growth was 6% and 15%, respectively).

The 4th quarter of 2010 was a turning point also in investing, when the decrease in investments that had lasted for nearly two years and a half compared to the same quarter of the previous year, turned to growth. In the 4th quarter of 2010, enterprises invested 510 million euros (8.0 billion kroons), i.e. by a tenth more than in the 4th quarter of 2009.

Net sales, personnel expenses and total profit of the business sector, 2001–2010 (2005 = 100)