Estonia: Machinery Electrical Parts Market 2025

Machinery Electrical Parts Market Size in Estonia

After two years of growth, the Estonian machinery electrical parts market decreased by -14% to $X in 2022. Over the period under review, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +10.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +44.1% against 2019 indices. Over the period under review, the market hit record highs at $X in 2021, and then reduced in the following year.

Machinery Electrical Parts Production in Estonia

In value terms, machinery electrical parts production fell sharply to $X in 2022 estimated in export price. Overall, production, however, recorded a significant increase. The pace of growth appeared the most rapid in 2020 when the production volume increased by 316% against the previous year. Over the period under review, production reached the maximum level at $X in 2021, and then fell markedly in the following year.

Machinery Electrical Parts Exports

Exports from Estonia

In 2022, approx. X tons of electrical parts of machinery or apparatus were exported from Estonia; which is down by -9.2% compared with the previous year's figure. In general, exports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2013 when exports increased by 6,051% against the previous year. The exports peaked at X tons in 2021, and then contracted in the following year.

In value terms, machinery electrical parts exports contracted to $X in 2022. Overall, exports, however, posted a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by 2,622%. Over the period under review, the exports hit record highs 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, accounting for a 78% 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 held by Lithuania (X tons), with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Switzerland amounted to +27.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Croatia (+32.8% per year) and Lithuania (-21.8% per year).

In value terms, the largest markets for machinery electrical parts exported from Estonia were Switzerland ($X), Poland ($X) and Croatia ($X), together comprising 81% of total exports. Latvia and Lithuania lagged somewhat behind, together comprising a further 2.8%.

Latvia, with a CAGR of +48.0%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average machinery electrical parts export price stood at $X per ton in 2022, waning by -2.8% against the previous year. Overall, the export price, however, continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2014 an increase of 123% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then reduced modestly in the following year.

Prices varied noticeably by country of destination: 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 (+25.2%), while the prices for the other major destinations experienced more modest paces of growth.

Machinery Electrical Parts Imports

Imports into Estonia

Machinery electrical parts imports into Estonia dropped rapidly to X tons in 2022, falling by -21.1% compared with the previous year. In general, imports, however, saw a strong increase. The growth pace was the most rapid in 2021 when imports increased by 85%. As a result, imports attained the peak of X tons, and then dropped dramatically in the following year.

In value terms, machinery electrical parts imports reduced notably to $X in 2022. Over the period under review, imports, however, saw a resilient expansion. The pace of growth was the most pronounced in 2021 when imports increased by 119% against the previous year. As a result, imports reached the peak of $X, and then fell remarkably in the following year.

Imports by Country

Latvia (X tons), Germany (X tons) and Finland (X tons) were the main suppliers of machinery electrical parts imports to Estonia, with a combined 41% share of total imports. Denmark, Israel, China, France, Italy, the UK, Sweden, Poland, Lithuania and Malaysia lagged somewhat behind, together comprising a further 52%.

From 2012 to 2022, the biggest increases were recorded for Israel (with a CAGR of +81.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of electrical parts of machinery or apparatus to Estonia, comprising 34% of total imports. The second position in the ranking was taken by Germany ($X), with a 14% share of total imports. It was followed by France, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +68.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+14.3% per year) and France (+44.7% per year).

Import Prices by Country

In 2022, the average machinery electrical parts import price amounted to $X per ton, dropping by -7.6% against the previous year. In general, the import price continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2017 when the average import price increased by 30% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Israel ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+11.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform