Estonia: Water-Skis And Surfboards Market 2024

Water-Skis And Surfboards Market Size in Estonia

The Estonian water-skis and surfboards market soared to $X in 2022, increasing by 78% against the previous year. Overall, consumption recorded resilient growth. Over the period under review, the market reached the maximum level in 2022 and is likely to see gradual growth in the immediate term.

Water-Skis And Surfboards Production in Estonia

In value terms, water-skis and surfboards production declined to $X in 2022 estimated in export price. Overall, production, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2019 with an increase of 35%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Water-Skis And Surfboards Exports

Exports from Estonia

After two years of growth, overseas shipments of water-skis, surfboards and sailboards decreased by -61.8% to X units in 2022. Over the period under review, exports, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 95% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2021, and then fell rapidly in the following year.

In value terms, water-skis and surfboards exports shrank sharply to $X in 2022. In general, exports, however, saw a remarkable increase. The pace of growth was the most pronounced in 2013 when exports increased by 105%. Over the period under review, the exports hit record highs at $X in 2021, and then declined dramatically in the following year.

Exports by Country

Sweden (X units), Lithuania (X units) and Latvia (X units) were the main destinations of water-skis and surfboards exports from Estonia, together comprising 52% of total exports. South Korea, Norway, France, Singapore, Poland, Finland, Denmark, Taiwan (Chinese), the UK and Germany lagged somewhat behind, together accounting for a further 43%.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +201.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Sweden ($X) and Singapore ($X) appeared to be the largest markets for water-skis and surfboards exported from Estonia worldwide, together comprising 54% of total exports.

Among the main countries of destination, Singapore, with a CAGR of +197.1%, recorded the highest growth rate of the value of exports, 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 water-skis and surfboards export price amounted to $X per unit, surging by 41% against the previous year. Overall, the export price, however, saw a pronounced curtailment. Over the period under review, the average export prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per unit), while the average price for exports to Finland ($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 Sweden (+4.3%), while the prices for the other major destinations experienced more modest paces of growth.

Water-Skis And Surfboards Imports

Imports into Estonia

For the fifth year in a row, Estonia recorded growth in supplies from abroad of water-skis, surfboards and sailboards, which increased by 15% to X units in 2022. In general, imports posted a prominent expansion. The growth pace was the most rapid in 2019 when imports increased by 62% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, water-skis and surfboards imports surged to $X in 2022. Overall, imports posted a buoyant increase. The growth pace was the most rapid in 2013 when imports increased by 54% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest water-skis and surfboards supplier to Estonia, accounting for a 82% share of total imports. Moreover, water-skis and surfboards imports from China exceeded the figures recorded by the second-largest supplier, Latvia (X units), sevenfold.

From 2012 to 2022, the average annual growth rate of volume from China totaled +15.8%.

In value terms, China ($X) constituted the largest supplier of water-skis, surfboards and sailboards to Estonia, comprising 73% of total imports. The second position in the ranking was held by Latvia ($X), with a 13% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +16.9%.

Import Prices by Country

The average water-skis and surfboards import price stood at $X per unit in 2022, surging by 5.4% against the previous year. In general, the import price, however, saw a mild shrinkage. The most prominent rate of growth was recorded in 2013 when the average import price increased by 74%. 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.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Latvia ($X per unit), while the price for China totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (+3.8%).

Source: IndexBox Platform