Finland: Interchangeable Spanner Socket Market 2025

Interchangeable Spanner Socket Market Size in Finland

In 2022, the Finnish interchangeable spanner socket market increased by 2.4% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Interchangeable Spanner Socket Exports

Exports from Finland

Interchangeable spanner socket exports from Finland shrank remarkably to X tons in 2022, falling by -28.8% on the previous year's figure. Over the period under review, exports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 15%. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, interchangeable spanner socket exports reduced to $X in 2022. Overall, exports continue to indicate a perceptible slump. The pace of growth was the most pronounced in 2021 when exports increased by 15%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Estonia (X tons) was the main destination for interchangeable spanner socket exports from Finland, accounting for a 59% share of total exports. Moreover, interchangeable spanner socket exports to Estonia exceeded the volume sent to the second major destination, Sweden (X tons), threefold. The third position in this ranking was held by Lithuania (X kg), with a 3.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Estonia stood at -8.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+0.5% per year) and Lithuania (-9.5% per year).

In value terms, Estonia ($X) remains the key foreign market for interchangeable spanner sockets exports from Finland, comprising 34% of total exports. The second position in the ranking was taken by Sweden ($X), with a 12% share of total exports. It was followed by Lithuania, with a 4.5% share.

From 2012 to 2022, the average annual growth rate of value to Estonia stood at -5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+0.5% per year) and Lithuania (+0.8% per year).

Export Prices by Country

In 2022, the average interchangeable spanner socket export price amounted to $X per ton, with an increase of 25% against the previous year. In general, export price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, interchangeable spanner socket export price increased by +92.6% against 2018 indices. The pace of growth was the most pronounced in 2019 when the average export price increased by 29%. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

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 the Netherlands ($X per ton), while the average price for exports to Estonia ($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 Lithuania (+11.3%), while the prices for the other major destinations experienced more modest paces of growth.

Interchangeable Spanner Socket Imports

Imports into Finland

In 2022, purchases abroad of interchangeable spanner sockets increased by 0.9% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by 16%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, interchangeable spanner socket imports stood at $X in 2022. The total import value increased at an average annual rate of +1.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 29% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Taiwan (Chinese) (X tons), China (X tons) and Germany (X tons) were the main suppliers of interchangeable spanner socket imports to Finland, together accounting for 92% of total imports. The UK lagged somewhat behind, comprising a further 1.9%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +13.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of interchangeable spanner sockets to Finland, comprising 50% of total imports. The second position in the ranking was held by China ($X), with a 24% share of total imports. It was followed by Germany, with a 9.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Taiwan (Chinese) was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+4.9% per year) and Germany (+2.0% per year).

Import Prices by Country

In 2022, the average interchangeable spanner socket import price amounted to $X per ton, flattening at the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 14%. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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