Order growth signals upswing for Finland’s electronics industry

The sector, which includes telecommunications equipment, electrical machinery, and medical technology, showed signs of recovery in the latter part of the year, driven by an increase in new orders.

According to data from the Technology Industries of Finland, both new orders and the order backlog increased in the fourth quarter compared to the previous quarter. The industry has experienced significant fluctuations in orders between quarters in recent years.

Companies participating in the Technology Industry Order Book Survey reported that new orders in the electronics and electrical industry increased by 24% in value from Q3 to Q4 and were 14% higher than in the same period in 2023. The total order backlog at the end of December was 14% larger than at the end of September and 16% higher than in December 2023.

Based on the strong order growth at the end of last year, the revenue of electronics and electrical industry companies is expected to trend upward in the first half of 2025.

Despite improving order volumes, the sector saw a 1.5% decrease in employment in Finland in 2024 compared to the 2023 average. The industry employed an average of 43,100 people, around 700 fewer than the previous year. By the end of December, the workforce had declined to 43,000.

Big footprint, small country: Finland’s impact on electronics

Finland’s semiconductor industry is poised for significant expansion, driven by its deep-rooted expertise, strong research and development (R&D) ecosystem, and innovative infrastructure – But why is that?

Evertiq has invited Joonas Mikkilä, Senior Advisor at Technology Industries of Finland, to speak about “Finland’s semiconductor industry and the Chips from the North strategy” during Evertiq Expo Tampere on March 27, 2025. The presentation will showcase Finland’s growth opportunities, its role in the global value chain, and how the country’s collaborative public-private approach fuels innovation and international partnerships.