Estonia: Machinery Electrical Parts Market 2024

Machinery Electrical Parts Market Size in Estonia

After two years of growth, the Estonian machinery electrical parts market decreased by X% to $X in 2022. Overall, consumption, however, posted resilient growth. Over the period under review, the market attained the peak level at $X in 2021, and then fell in the following year.

Machinery Electrical Parts Production in Estonia

In value terms, machinery electrical parts production shrank rapidly to $X in 2022 estimated in export price. In general, production, however, saw a significant increase. The growth pace was the most rapid in 2020 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2021, and then plummeted in the following year.

Machinery Electrical Parts Exports

Exports from Estonia

In 2022, the amount of electrical parts of machinery or apparatus exported from Estonia dropped to X tons, which is down by X% on the previous year's figure. In general, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2021, and then dropped in the following year.

In value terms, machinery electrical parts exports shrank to $X in 2022. Over the period under review, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The exports peaked at $X in 2021, and then reduced in the following year.

Exports by Country

Switzerland (X tons) was the main destination for machinery electrical parts exports from Estonia, with a X% share of total exports. Moreover, machinery electrical parts exports to Switzerland exceeded the volume sent to the second major destination, Croatia (X tons), sevenfold. The third position in this ranking was taken by Lithuania (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Switzerland stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Croatia (X% per year) and Lithuania (X% per year).

In value terms, the largest markets for machinery electrical parts exported from Estonia were Switzerland ($X), Poland ($X) and Croatia ($X), with a combined X% share of total exports. Latvia and Lithuania lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Latvia, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average machinery electrical parts export price amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price, however, saw prominent growth. The pace of growth appeared the most rapid in 2015 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2021, and then fell in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (X%), while the prices for the other major destinations experienced more modest paces of growth.

Machinery Electrical Parts Imports

Imports into Estonia

In 2022, machinery electrical parts imports into Estonia reduced dramatically to X tons, which is down by X% on the previous year's figure. Over the period under review, imports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons, and then declined dramatically in the following year.

In value terms, machinery electrical parts imports shrank significantly to $X in 2022. In general, imports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then contracted significantly in the following year.

Imports by Country

Germany (X tons), Latvia (X tons) and Finland (X tons) were the main suppliers of machinery electrical parts imports to Estonia, together comprising X% of total imports. Denmark, Israel, France, Poland, Sweden, Italy, the UK, the Netherlands and China lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Israel (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of electrical parts of machinery or apparatus to Estonia, comprising X% of total imports. The second position in the ranking was held by France ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: France (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the average machinery electrical parts import price amounted to $X per ton, falling by X% against the previous year. In general, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, machinery electrical parts import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then reduced in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Israel ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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