Finland: Domestic Appliances Market 2024

Domestic Appliances Market Size in Finland

The Finnish domestic appliances market was estimated at $X in 2021, picking up by 7.6% against the previous year. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when the market value increased by 8.9%. Over the period under review, the market hit record highs in 2021 and is likely to see steady growth in the immediate term.

Domestic Appliances Production in Finland

In value terms, domestic appliances production soared to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.3% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Domestic Appliances Exports

Exports from Finland

In 2021, overseas shipments of domestic appliances increased by 22% to X units for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, domestic appliances exports soared to $X in 2021. In general, total exports indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +64.2% against 2015 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Sweden (X units), Germany (X units) and the Czech Republic (X units) were the main destinations of domestic appliances exports from Finland, with a combined 59% share of total exports. These countries were followed by Switzerland, Estonia, Portugal, Poland, the United States, the Netherlands, Russia and Denmark, which together accounted for a further 29%.

From 2012 to 2021, the biggest increases were recorded for Portugal (with a CAGR of +55.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for domestic appliances exported from Finland were Sweden ($X), Germany ($X) and the United States ($X), with a combined 39% share of total exports. These countries were followed by Estonia, Russia, the Czech Republic, Switzerland, the Netherlands, Poland, Denmark and Portugal, which together accounted for a further 31%.

Among the main countries of destination, Portugal, with a CAGR of +34.9%, recorded 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

In 2021, the average domestic appliances export price amounted to $X per unit, rising by 5.4% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 17%. The export price peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Portugal ($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 United States (+9.1%), while the prices for the other major destinations experienced more modest paces of growth.

Domestic Appliances Imports

Imports into Finland

In 2021, domestic appliances imports into Finland surged to X units, growing by 15% on the previous year. The total import volume increased at an average annual rate of +2.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, domestic appliances imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.5% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Sweden (X units), China (X units) and Germany (X units) were the main suppliers of domestic appliances imports to Finland, together comprising 82% of total imports. Poland, Denmark, Italy, Estonia, the Czech Republic, Turkey, Hungary, Slovakia and South Korea lagged somewhat behind, together comprising a further 28%.

From 2012 to 2021, the biggest increases were recorded for Denmark (with a CAGR of +27.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X) constituted the largest supplier of domestic appliances to Finland, comprising 53% of total imports. The second position in the ranking was taken by China ($X), with a 13% share of total imports. It was followed by Germany, with a 5.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Sweden stood at +21.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-1.6% per year) and Germany (-6.8% per year).

Import Prices by Country

In 2021, the average domestic appliances import price amounted to $X per unit, surging by 7.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. The pace of growth appeared the most rapid in 2018 when the average import price increased by 9.5% against the previous year. The import price peaked in 2021 and is likely to see gradual growth in years to come.

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 South Korea ($X per unit), while the price for Slovakia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+12.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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