Estonia: Fromwork Market 2024

Fromwork Market Size in Estonia

The Estonian fromwork market expanded sharply to $X in 2022, increasing by 13% against the previous year. Overall, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +7.1% 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 +46.9% against 2020 indices. Fromwork consumption peaked in 2022 and is expected to retain growth in years to come.

Fromwork Production in Estonia

In value terms, fromwork production shrank to $X in 2022 estimated in export price. Overall, production, however, showed a significant contraction. The most prominent rate of growth was recorded in 2019 when the production volume increased by 287%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Fromwork Exports

Exports from Estonia

Fromwork exports from Estonia surged to X tons in 2022, growing by 26% compared with the year before. Over the period under review, exports, however, saw a pronounced slump. The most prominent rate of growth was recorded in 2014 when exports increased by 167%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, fromwork exports soared to $X in 2022. In general, exports, however, continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2016 when exports increased by 144% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Switzerland (X tons), Latvia (X tons) and Lithuania (X tons) were the main destinations of fromwork exports from Estonia, with a combined 98% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Latvia (with a CAGR of +11.4%), while the other leaders experienced a decline.

In value terms, Switzerland ($X) emerged as the key foreign market for shuttering for concrete constructional work, shingles and shakes, of wood exports from Estonia, comprising 69% of total exports. The second position in the ranking was taken by Latvia ($X), with a 22% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Switzerland totaled -9.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (+14.5% per year) and Lithuania (-5.6% per year).

Export Prices by Country

In 2022, the average fromwork export price amounted to $X per ton, jumping by 88% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible downturn. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Lithuania ($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 Latvia (+2.8%), while the prices for the other major destinations experienced mixed trend patterns.

Fromwork Imports

Imports into Estonia

In 2022, approx. X tons of shuttering for concrete constructional work, shingles and shakes, of wood were imported into Estonia; growing by 48% on the previous year. In general, imports posted resilient growth. The pace of growth was the most pronounced in 2019 with an increase of 105%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, fromwork imports surged to $X in 2022. Overall, imports recorded strong growth. The most prominent rate of growth was recorded in 2016 with an increase of 97% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Austria (X tons) constituted the largest fromwork supplier to Estonia, with a 57% share of total imports. Moreover, fromwork imports from Austria exceeded the figures recorded by the second-largest supplier, Ukraine (X tons), threefold. The third position in this ranking was taken by Germany (X tons), with a 20% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Austria stood at +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (0.0% per year) and Germany (+18.1% per year).

In value terms, Austria ($X), Germany ($X) and Ukraine ($X) appeared to be the largest fromwork suppliers to Estonia, with a combined 99% share of total imports.

In terms of the main suppliers, Germany, with a CAGR of +20.3%, saw the highest rates of growth with regard to 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

In 2022, the average fromwork import price amounted to $X per ton, leveling off at the previous year. Over the period under review, import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fromwork import price increased by +113.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 111% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+2.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform