Finland: Direction Finding Compass Market 2024

Direction Finding Compass Market Size in Finland

In 2021, the Finnish direction finding compass market decreased by -9.6% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption, however, continues to indicate a sharp descent. Direction finding compass consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Direction Finding Compass Production in Finland

In value terms, direction finding compass production stood at $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a sharp descent. The most prominent rate of growth was recorded in 2013 when the production volume increased by 83% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Direction Finding Compass Exports

Exports from Finland

In 2021, shipments abroad of direction finding compasses was finally on the rise to reach X units after six years of decline. In general, exports, however, recorded a dramatic shrinkage. Over the period under review, the exports reached the peak figure at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, direction finding compass exports surged to $X in 2021. Overall, exports, however, continue to indicate a deep setback. The growth pace was the most rapid in 2014 with an increase of 42%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X units), Russia (X units) and China (X units) were the main destinations of direction finding compass exports from Finland, with a combined 70% share of total exports. South Korea, Germany, Canada, Japan, the Netherlands, Estonia, France, Switzerland, Australia and the UK lagged somewhat behind, together comprising a further 19%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Estonia (with a CAGR of +26.5%), while the other leaders experienced a decline.

In value terms, the largest markets for direction finding compass exported from Finland were the United States ($X), South Korea ($X) and Germany ($X), with a combined 52% share of total exports. Russia, Japan, France, Canada, Switzerland, the UK, the Netherlands, China, Australia and Estonia lagged somewhat behind, together accounting for a further 31%.

In terms of the main countries of destination, Estonia, with a CAGR of +27.3%, saw the highest rates of growth with regard to 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

The average direction finding compass export price stood at $X per unit in 2021, waning by -15.5% against the previous year. In general, the export price, however, posted prominent growth. The most prominent rate of growth was recorded in 2019 an increase of 93%. The export price peaked at $X per unit in 2020, and then dropped significantly in the following year.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was South Korea ($X per unit), while the average price for exports to Estonia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+31.3%), while the prices for the other major destinations experienced more modest paces of growth.

Direction Finding Compass Imports

Imports into Finland

After three years of decline, overseas purchases of direction finding compasses increased by 101% to X units in 2021. Over the period under review, imports, however, faced a abrupt setback. Over the period under review, imports hit record highs at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, direction finding compass imports skyrocketed to $X in 2021. In general, imports, however, recorded a pronounced descent. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

China (X units), Germany (X units) and the Netherlands (X units) were the main suppliers of direction finding compass imports to Finland, with a combined 82% share of total imports. Denmark, Sweden, the United States and Latvia lagged somewhat behind, together comprising a further 15%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Denmark (with a CAGR of +195.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of direction finding compasses to Finland, comprising 57% of total imports. The second position in the ranking was taken by the Netherlands ($X), with an 18% share of total imports. It was followed by Germany, with a 16% share.

From 2012 to 2021, the average annual growth rate of value from China stood at -8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+57.9% per year) and Germany (+5.9% per year).

Import Prices by Country

In 2021, the average direction finding compass import price amounted to $X per unit, shrinking by -40.8% against the previous year. Overall, the import price, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2019 an increase of 183%. The import price peaked at $X per unit in 2020, and then declined rapidly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for Latvia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+17.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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