Finland: Golf Equipment Market 2024

Golf Equipment Market Size in Finland

In 2022, the Finnish golf equipment market decreased by -10.6% to $X for the first time since 2017, thus ending a four-year rising trend. Over the period under review, the total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +89.5% against 2017 indices. Over the period under review, the market hit record highs at $X in 2021, and then fell in the following year.

Golf Equipment Exports

Exports from Finland

For the third consecutive year, Finland recorded growth in overseas shipments of golf clubs and other golf equipment, which increased by 86% to X units in 2022. Over the period under review, exports recorded significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 307% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, golf equipment exports skyrocketed to $X in 2022. In general, exports enjoyed significant growth. The pace of growth was the most pronounced in 2014 when exports increased by 173%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Sweden (X units) was the main destination for golf equipment exports from Finland, with a 59% share of total exports. Moreover, golf equipment exports to Sweden exceeded the volume sent to the second major destination, Iceland (X units), fivefold. The United States (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Sweden stood at +37.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iceland (+90.2% per year) and the United States (+25.2% per year).

In value terms, Sweden ($X) emerged as the key foreign market for golf clubs and other golf equipment exports from Finland, comprising 54% of total exports. The second position in the ranking was held by the UK ($X), with an 18% share of total exports. It was followed by the United States, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Sweden stood at +38.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+39.7% per year) and the United States (+28.6% per year).

Export Prices by Country

In 2022, the average golf equipment export price amounted to $X per unit, remaining relatively unchanged against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 61% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Germany ($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 the UK (+8.4%), while the prices for the other major destinations experienced more modest paces of growth.

Golf Equipment Imports

Imports into Finland

In 2022, supplies from abroad of golf clubs and other golf equipment decreased by -13.8% to X units for the first time since 2017, thus ending a four-year rising trend. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 26%. Imports peaked at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, golf equipment imports fell to $X in 2022. Over the period under review, imports, however, enjoyed a prominent expansion. The pace of growth was the most pronounced in 2021 when imports increased by 33% against the previous year. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

China (X units), the Netherlands (X units) and Taiwan (Chinese) (X units) were the main suppliers of golf equipment imports to Finland, together comprising 80% of total imports. The United States, Sweden, the UK, Indonesia and Japan lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +54.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of golf clubs and other golf equipment to Finland, comprising 60% of total imports. The second position in the ranking was taken by the United States ($X), with a 12% share of total imports. It was followed by the Netherlands, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+4.6% per year) and the Netherlands (+8.3% per year).

Import Prices by Country

In 2022, the average golf equipment import price amounted to $X per unit, growing by 5.9% against the previous year. In general, import price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, golf equipment import price increased by +29.0% against 2019 indices. The pace of growth appeared the most rapid in 2017 an increase of 50% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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