03.09.2025
The wood and furniture industry has suddenly become the provincial locomotive
In 2023, the decline of clusters is slowly receding and some sectors are also showing a recovery. For example, the wood and furniture industry has been the most positive in the business cycle data up to the end of May. The cluster's net sales and number of employees have been growing since the end of 2024. However, the figures for 2021 are still around 10% lower. The wood and furniture cluster also has a clear connection to construction, the downturn of which seems to have come to a halt.
In uncertain times, the moderate growth of tourism will continue and it is expected that growth will not stop due to significant investments in tourism centres and Oulu. If some of Lapland's tourist flows turn to Northern Ostrobothnia, the growth may be even faster.
The revenue of the ICT and metal clusters has been very lively for months in the early part of the year, but these have not been reflected in the number of personnel, which has continued to decrease. The ICT cluster's turnover in March grew by 29 per cent year-on-year. Especially in ICT, the technological transformation is beginning to show. The training and skills requirements of employees are growing strongly.
The situation in the electricity and energy technology cluster is interesting. The whole cluster is in a waiting situation. North Ostrobothnia is a wind power region in particular, and its construction has now slowed down significantly. It is not yet possible to say how much onshore wind power will be built in the future or whether the growth will focus on offshore wind and solar power. Indeed, the turnover of the cluster has been decreasing since April 2023 and the same situation has been found in the number of employees, with the exception of a few exceptional months. The future prospects of the electricity and energy technology cluster will depend on how energy-using and utilising investments start.
More on the business cycle: Business cycle monitoring - Regional Assembly of Oulu Region
