Finland: Market for Coconut, Abaca, Ramie and other Vegetable Textile Fibres 2024

Market Size for Coconut, Abaca, Ramie and other Vegetable Textile Fibres in Finland

The Finnish market for coconut, abaca, ramie and other vegetable textile fibres fell rapidly to $X in 2022, which is down by -51.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Exports of Coconut, Abaca, Ramie and other Vegetable Textile Fibres

Exports from Finland

In 2022, approx. X kg of coconut, abaca, ramie and other vegetable textile fibres were exported from Finland; which is down by -20.4% on the previous year's figure. Over the period under review, exports, however, saw significant growth. The growth pace was the most rapid in 2018 with an increase of 8,000%. The exports peaked at X kg in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of coconut, abaca, ramie and other vegetable textile fibres declined to $X in 2022. In general, exports, however, continue to indicate a resilient expansion. The growth pace was the most rapid in 2018 when exports increased by 7,611% against the previous year. Over the period under review, the exports of hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Estonia (X kg) was the main destination for exports of coconut, abaca, ramie and other vegetable textile fibres from Finland, accounting for a 93% share of total exports. Moreover, exports of coconut, abaca, ramie and other vegetable textile fibres to Estonia exceeded the volume sent to the second major destination, Latvia (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Estonia stood at +40.6%.

In value terms, Estonia ($X) remains the key foreign market for coconut, abaca, ramie and other vegetable textile fibres exports from Finland, comprising 92% of total exports. The second position in the ranking was taken by Latvia ($X), with a 7.7% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Estonia stood at +21.8%.

Export Prices by Country

The average export price for coconut, abaca, ramie and other vegetable textile fibres stood at $X per ton in 2022, surging by 8% against the previous year. Overall, the export price, however, saw a abrupt setback. The most prominent rate of growth was recorded in 2013 an increase of 146% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Latvia ($X per ton), while the average price for exports to Estonia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (-7.9%), while the prices for the other major destinations experienced a decline.

Imports of Coconut, Abaca, Ramie and other Vegetable Textile Fibres

Imports into Finland

In 2022, the amount of coconut, abaca, ramie and other vegetable textile fibres imported into Finland dropped significantly to X tons, with a decrease of -45.7% against 2021. In general, imports, however, continue to indicate a slight increase. The most prominent rate of growth was recorded in 2018 with an increase of 453% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of coconut, abaca, ramie and other vegetable textile fibres contracted dramatically to $X in 2022. Overall, imports continue to indicate a mild curtailment. The growth pace was the most rapid in 2018 with an increase of 154% against the previous year. Over the period under review, imports of reached the peak figure at $X in 2021, and then fell notably in the following year.

Imports by Country

In 2022, Sri Lanka (X tons) constituted the largest coconut, abaca, ramie and other vegetable textile fibre supplier to Finland, with a 74% share of total imports. Moreover, imports of coconut, abaca, ramie and other vegetable textile fibres from Sri Lanka exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), sevenfold. China (X tons) ranked third in terms of total imports with a 6.8% share.

From 2012 to 2022, the average annual growth rate of volume from Sri Lanka amounted to -1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+28.0% per year) and China (+18.5% per year).

In value terms, Sri Lanka ($X), China ($X) and the Netherlands ($X) constituted the largest coconut, abaca, ramie and other vegetable textile fibre suppliers to Finland, with a combined 68% share of total imports. Sweden, Germany and India lagged somewhat behind, together accounting for a further 13%.

In terms of the main suppliers, Sweden, with a CAGR of +40.9%, 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

In 2022, the average import price for coconut, abaca, ramie and other vegetable textile fibres amounted to $X per ton, shrinking by -23.6% against the previous year. Over the period under review, the import price recorded a pronounced slump. The most prominent rate of growth was recorded in 2021 an increase of 46% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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 China ($X per ton), while the price for Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+5.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform