Estonia: Personal Weighing Machine Market 2024

Personal Weighing Machine Market Size in Estonia

In 2022, after two years of growth, there was significant decline in the Estonian personal weighing machine market, when its value decreased by -44.6% to $X. In general, consumption, however, continues to indicate modest growth. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Personal Weighing Machine Production in Estonia

In value terms, personal weighing machine production shrank remarkably to $X in 2022 estimated in export price. In general, production, however, continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of 427% against the previous year. Personal weighing machine production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Personal Weighing Machine Exports

Exports from Estonia

In 2022, overseas shipments of personal weighing machines increased by 228% to X units for the first time since 2017, thus ending a four-year declining trend. In general, exports, however, saw a perceptible downturn. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, personal weighing machine exports surged to $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Russia (X units) was the main destination for personal weighing machine exports from Estonia, with a 62% share of total exports. Moreover, personal weighing machine exports to Russia exceeded the volume sent to the second major destination, Kazakhstan (X units), fourfold. The third position in this ranking was held by Latvia (X units), with a 5.3% share.

From 2012 to 2022, the average annual growth rate of volume to Russia amounted to -6.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (+10.7% per year) and Latvia (-2.8% per year).

In value terms, Russia ($X) remains the key foreign market for personal weighing machines exports from Estonia, comprising 66% of total exports. The second position in the ranking was taken by Latvia ($X), with an 8.9% share of total exports. It was followed by Lithuania, with a 6.8% share.

From 2012 to 2022, the average annual growth rate of value to Russia amounted to -1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (-1.5% per year) and Lithuania (+17.7% per year).

Export Prices by Country

The average personal weighing machine export price stood at $X per unit in 2022, increasing by 17% against the previous year. In general, export price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, personal weighing machine export price increased by +90.3% against 2019 indices. The pace of growth was the most pronounced in 2017 when the average export price increased by 44% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lithuania ($X per unit), while the average price for exports to Kazakhstan ($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 Uzbekistan (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.

Personal Weighing Machine Imports

Imports into Estonia

In 2022, after five years of decline, there was significant growth in overseas purchases of personal weighing machines, when their volume increased by 40% to X units. In general, imports, however, recorded a perceptible shrinkage. The pace of growth was the most pronounced in 2014 with an increase of 292% against the previous year. Over the period under review, imports attained the peak figure at X units in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, personal weighing machine imports fell to $X in 2022. Over the period under review, imports, however, recorded a perceptible reduction. The growth pace was the most rapid in 2014 when imports increased by 147%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of personal weighing machine to Estonia, accounting for a 82% share of total imports. Moreover, personal weighing machine imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), more than tenfold. Finland (X units) ranked third in terms of total imports with a 3.1% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-7.7% per year) and Finland (+30.0% per year).

In value terms, China ($X) constituted the largest supplier of personal weighing machines to Estonia, comprising 72% of total imports. The second position in the ranking was held by Germany ($X), with a 7.3% share of total imports. It was followed by Poland, with a 4.5% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to -2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-6.8% per year) and Poland (+10.3% per year).

Import Prices by Country

The average personal weighing machine import price stood at $X per unit in 2022, which is down by -29.2% against the previous year. Overall, the import price, however, showed modest growth. The most prominent rate of growth was recorded in 2020 an increase of 87%. The import price peaked at $X per unit in 2021, and then dropped remarkably 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 ($X per unit), while the price for the Czech Republic ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform