Investments made by commerce decreased by 15 per cent – the next government must secure the conditions for growth

Annual investments in the commerce sector are significant and generate growth broadly across the country. Companies in the sector invest in stores, logistics and warehouses as well as technology and other intangible assets, such as digital services and brands.

Investments renew operations in the commerce sector, improve productivity and services and strengthen the international competitiveness of companies.

Commerce invests a lot, but the direction is not strengthening

Investments made by commerce have nominally remained at the level of more than EUR 2 billion since 2021, despite the challenging operating environment. In the 2020s, the commerce sector has invested a total of EUR 12.7 billion.

According to preliminary data from Statistics Finland, investments in 2025 amounted to approximately EUR 2.1 billion, which was approximately 15 per cent less than in the previous year. Based on the investment survey published by the Confederation of Finnish Industries in June 2026, investments made by commerce are expected to remain close to the previous year’s level in 2026.*

Although the level of investments has remained high, their recent development does not indicate clear strengthening. Finland’s economy needs more investments from companies so that growth will accelerate and economic structures will be renewed.

”The biggest challenge for Finland’s economy is slow growth. Companies will invest when they can trust that the operating environment is stable, decision-making is consistent and regulation supports growth instead of slowing it down,” says Kari Luoto, Managing Director of the Finnish Commerce Federation.

Commerce also invests and grows internationally

Investments made by commerce are not limited to Finland. Finnish companies in the commerce sector also seek growth in the international market and invest abroad.

In June, Kesko announced that it would acquire Dahl’s business in Sweden, Norway and Denmark at the debt-free purchase price of approximately EUR 1.2 billion. Dahl’s turnover in 2025 was approximately

EUR 2.1 billion. The acquisition is the largest acquisition in Kesko’s history and the fifth largest acquisition of all time in Finland.

Other companies in the commerce sector are also growing internationally. The Motonet department store chain is expanding its network of department stores in Sweden and Estonia. Finnish Design Shop, on the other hand, has grown from turnover of approximately EUR 1 million to nearly EUR 60 million, and its largest market is the United States.

”Finnish commerce can be both an investor, an export sector and a builder of international growth. Investments made by commerce are largely based on companies’ own risk-taking and belief in the future. However, the realisation of investments also requires that companies have access to competitive funding to support growth and renewal,” says Luoto.

”As Finnish companies grow internationally, it is important that their headquarters and decision-making remain in Finland,” he adds.

The impact of investments extends to a broad business chain

The impact of an individual investment extends beyond the company making the investment. Construction, reforming production and industrial projects in Finland also create demand for machinery, components, materials, systems and related services.

”The investment decision starts a long supply chain. If the project is delayed due to a permit process or uncertainty, the resulting demand, jobs and economic growth will also be delayed. Therefore, the smooth progress of investments is important for a group of companies considerably larger than a single project,” says Markku Uitto, Managing Director of the Association of Finnish Technical Traders.

The important task of the next government is to strengthen Finland’s position as an investment destination, get construction started and ensure that industrial investments progress smoothly from planning to implementation.

*Sources: Statistics Finland, Annual National Accounts and EK investment survey, June 2026. Statistics Finland’s figures are nominal, i.e. presented at current prices, and they have not been adjusted for the effects of inflation. The figures for 2024 and 2025 are preliminary data. The investment figures include gross fixed capital formation in accordance with the Annual National Accounts, i.e. tangible and intangible investments in Finland.

For further information, please contact:

Kari Luoto, Managing Director, Finnish Commerce Federation, kari.luoto(at)kauppa.fi, tel. +358 400 688 708.

Markku Uitto, Managing Director, Association of Finnish Technical Traders, markku.uitto(at)tekninen.fi, tel. +358 400 407 870.

On 12 October 2026, the Finnish Commerce Federation, the Association of Finnish Technical Traders, the Finnish Central Organisation for Motor Trades and Repairs, Federation of Finnish Special Commodity Trade ETU and the Finnish Grocery Trade Association will organise a discussion event in Lempäälä as part of a series of nationwide Commerce is the key to growth discussion events. The events will examine the role of commerce as a driver of growth, investments, employment and security of supply across the country.