Finland: Machinery Electrical Parts Market 2024

Machinery Electrical Parts Market Size in Finland

In 2022, the Finnish machinery electrical parts market decreased by X% to $X, falling for the third consecutive year after two years of growth. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Machinery Electrical Parts Production in Finland

In value terms, machinery electrical parts production fell modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Machinery Electrical Parts Exports

Exports from Finland

In 2022, after two years of growth, there was decline in shipments abroad of electrical parts of machinery or apparatus, when their volume decreased by X% to X tons. Over the period under review, exports, however, saw a significant expansion. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. The exports peaked at X tons in 2021, and then shrank modestly in the following year.

In value terms, machinery electrical parts exports contracted dramatically to $X in 2022. Overall, exports, however, showed a strong increase. The growth pace was the most rapid in 2020 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2021, and then shrank markedly in the following year.

Exports by Country

Germany (X tons), the Netherlands (X tons) and Sweden (X tons) were the main destinations of machinery electrical parts exports from Finland, together accounting for X% of total exports. Lithuania, Estonia, China, the UK, Latvia, Denmark and India lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X) remains the key foreign market for electrical parts of machinery or apparatus exports from Finland, comprising X% of total exports. The second position in the ranking was taken by Latvia ($X), with an X% share of total exports. It was followed by Germany, with an X% share.

From 2012 to 2022, the average annual growth rate of value to Sweden stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (X% per year) and Germany (X% per year).

Export Prices by Country

The average machinery electrical parts export price stood at $X per ton in 2022, which is down by X% against the previous year. Over the period under review, the export price saw a abrupt setback. The growth pace was the most rapid in 2014 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to Lithuania ($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 Denmark (X%), while the prices for the other major destinations experienced mixed trend patterns.

Machinery Electrical Parts Imports

Imports into Finland

After five years of growth, supplies from abroad of electrical parts of machinery or apparatus decreased by X% to X tons in 2022. Overall, imports, however, posted a buoyant expansion. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2021, and then declined in the following year.

In value terms, machinery electrical parts imports contracted to $X in 2022. In general, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

In 2022, Germany (X tons) constituted the largest machinery electrical parts supplier to Finland, accounting for a X% share of total imports. Moreover, machinery electrical parts imports from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X tons), threefold. Estonia (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and Estonia (X% per year).

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

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

Import Prices by Country

The average machinery electrical parts import price stood at $X per ton in 2022, falling by X% against the previous year. In general, the import price saw a abrupt shrinkage. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 the Netherlands ($X per ton), while the price for Estonia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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