Finland: Cotton Yarn Market 2024

Cotton Yarn Market Size in Finland

After two years of growth, the Finnish cotton yarn market decreased by -23.5% to $X in 2022. In general, consumption recorded a noticeable slump. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Cotton Yarn Exports

Exports from Finland

In 2022, the amount of cotton yarn exported from Finland dropped dramatically to X tons, reducing by -39.1% against 2021. Over the period under review, exports recorded a abrupt decline. The growth pace was the most rapid in 2017 with an increase of 35% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, cotton yarn exports reduced dramatically to $X in 2022. In general, exports saw a abrupt slump. The most prominent rate of growth was recorded in 2013 when exports increased by 56%. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Switzerland (X kg), Estonia (X kg) and Sweden (X kg) were the main destinations of cotton yarn exports from Finland, together accounting for 71% of total exports. Bangladesh, the UK, Latvia, the United States, Canada, South Korea, Japan and Russia lagged somewhat behind, together comprising a further 19%.

From 2012 to 2022, the biggest increases were recorded for Bangladesh (with a CAGR of +61.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Estonia ($X), Switzerland ($X) and South Korea ($X) appeared to be the largest markets for cotton yarn exported from Finland worldwide, with a combined 68% share of total exports.

South Korea, with a CAGR of +90.0%, 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 cotton yarn export price amounted to $X per ton, dropping by -1.5% against the previous year. Over the period under review, the export price, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2020 an increase of 105%. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then shrank modestly in the following year.

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 ($X per ton), while the average price for exports to Bangladesh ($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 South Korea (+46.6%), while the prices for the other major destinations experienced more modest paces of growth.

Cotton Yarn Imports

Imports into Finland

In 2022, after two years of growth, there was significant decline in purchases abroad of cotton yarn, when their volume decreased by -33% to X tons. Over the period under review, imports recorded a noticeable downturn. The pace of growth appeared the most rapid in 2020 with an increase of 107% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, cotton yarn imports fell significantly to $X in 2022. In general, imports continue to indicate a noticeable contraction. The growth pace was the most rapid in 2021 when imports increased by 28%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Estonia (X tons), Turkey (X tons) and Germany (X tons) were the main suppliers of cotton yarn imports to Finland, together accounting for 57% of total imports. India, Poland, Pakistan, Sweden, Spain and Italy lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Pakistan (with a CAGR of +173.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cotton yarn suppliers to Finland were Estonia ($X), Germany ($X) and India ($X), together accounting for 50% of total imports. Turkey, Sweden, Pakistan, Poland, Spain and Italy lagged somewhat behind, together accounting for a further 34%.

Among the main suppliers, Pakistan, with a CAGR of +144.1%, recorded 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

The average cotton yarn import price stood at $X per ton in 2022, growing by 23% against the previous year. In general, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cotton yarn import price increased by +30.9% against 2020 indices. The growth pace was the most rapid in 2018 an increase of 46% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2019; however, from 2020 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 Sweden ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+12.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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