Estonia: Industrial Sewing Machine Market 2024

Industrial Sewing Machine Market Size in Estonia

The Estonian industrial sewing machine market expanded remarkably to $X in 2022, picking up by 5.2% against the previous year. Over the period under review, consumption, however, continues to indicate a abrupt downturn. Industrial sewing machine consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Industrial Sewing Machine Production in Estonia

In value terms, industrial sewing machine production rose to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2013 when the production volume increased by 19%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Industrial Sewing Machine Exports

Exports from Estonia

In 2022, industrial sewing machine exports from Estonia fell rapidly to X units, dropping by -55.7% against the previous year's figure. In general, exports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2016 when exports increased by 175%. Over the period under review, the exports attained the peak figure at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, industrial sewing machine exports declined significantly to $X in 2022. Over the period under review, exports saw a abrupt descent. The pace of growth was the most pronounced in 2016 with an increase of 230% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Switzerland (X units) was the main destination for industrial sewing machine exports from Estonia, with a 57% share of total exports. Moreover, industrial sewing machine exports to Switzerland exceeded the volume sent to the second major destination, Ukraine (X units), twofold. Russia (X units) ranked third in terms of total exports with a 7.4% share.

From 2012 to 2022, the average annual growth rate of volume to Switzerland was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+29.2% per year) and Russia (-30.4% per year).

In value terms, the largest markets for industrial sewing machine exported from Estonia were Ukraine ($X), Russia ($X) and Switzerland ($X), with a combined 92% share of total exports.

Ukraine, with a CAGR of +22.2%, 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

In 2022, the average industrial sewing machine export price amounted to $X per unit, shrinking by -49.8% against the previous year. In general, the export price continues to indicate a deep reduction. The growth pace was the most rapid in 2015 an increase of 225%. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+7.5%), while the prices for the other major destinations experienced a decline.

Industrial Sewing Machine Imports

Imports into Estonia

In 2022, purchases abroad of industrial sewing machines was finally on the rise to reach X units after three years of decline. In general, imports showed a resilient expansion. The growth pace was the most rapid in 2018 when imports increased by 73%. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, industrial sewing machine imports declined remarkably to $X in 2022. Overall, imports, however, continue to indicate a slight setback. The most prominent rate of growth was recorded in 2018 when imports increased by 222%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Taiwan (Chinese) (X units), Germany (X units) and China (X units) were the main suppliers of industrial sewing machine imports to Estonia, with a combined 75% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +27.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest industrial sewing machine suppliers to Estonia were Germany ($X), China ($X) and Taiwan (Chinese) ($X), with a combined 63% share of total imports. Turkey, the Netherlands, Poland, Italy, Japan and Lithuania lagged somewhat behind, together accounting for a further 26%.

In terms of the main suppliers, Turkey, with a CAGR of +31.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average industrial sewing machine import price stood at $X per unit in 2022, which is down by -51.3% against the previous year. In general, the import price saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 an increase of 87%. Over the period under review, average import prices attained the maximum at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+20.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform