Finland: Hand Tools Market 2024

Hand Tools Market Size in Finland

In 2021, the Finnish hand tools market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, saw a relatively flat trend pattern. Hand tools consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Hand Tools Production in Finland

In value terms, hand tools production soared to $X in 2021 estimated in export price. Overall, production, however, saw a noticeable slump. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Hand Tools Exports

Exports from Finland

In 2021, overseas shipments of hand tools increased by 25% to X tons, rising for the third consecutive year after five years of decline. Overall, exports, however, showed a perceptible shrinkage. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, hand tools exports skyrocketed to $X in 2021. Over the period under review, exports, however, showed a perceptible contraction. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons), Sweden (X tons) and Russia (X tons) were the main destinations of hand tools exports from Finland, with a combined 57% share of total exports. Estonia, Canada, Lithuania, Australia, the Netherlands, Germany, Norway, Latvia, Poland and the Czech Republic lagged somewhat behind, together comprising a further 38%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +23.7%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Russia ($X) and Sweden ($X) constituted the largest markets for hand tools exported from Finland worldwide, together comprising 50% of total exports. These countries were followed by Estonia, Lithuania, the Netherlands, Germany, Canada, Latvia, Norway, Australia, Poland and the Czech Republic, which together accounted for a further 41%.

In terms of the main countries of destination, the Netherlands, with a CAGR of +17.3%, 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 hand tools export price amounted to $X per ton, with an increase of 4.6% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 14% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, 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 Germany ($X per ton), while the average price for exports to Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+9.7%), while the prices for the other major destinations experienced more modest paces of growth.

Hand Tools Imports

Imports into Finland

After two years of decline, purchases abroad of hand tools increased by 24% to X tons in 2021. Overall, imports saw a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, hand tools imports skyrocketed to $X in 2021. In general, imports saw a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of hand tools to Finland, accounting for a 30% share of total imports. Moreover, hand tools imports from China exceeded the figures recorded by the second-largest supplier, Poland (X tons), twofold. Sweden (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+10.6% per year) and Sweden (+4.7% per year).

In value terms, Sweden ($X), Germany ($X) and China ($X) appeared to be the largest hand tools suppliers to Finland, together comprising 49% of total imports. These countries were followed by the Netherlands, Poland, Taiwan (Chinese), the United States, Switzerland, Denmark, Estonia and India, which together accounted for a further 36%.

The Netherlands, with a CAGR of +29.9%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average hand tools import price stood at $X per ton in 2021, increasing by 2.7% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 11% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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