Finland: Knitted Fabric Market 2024

Knitted Fabric Market Size in Finland

The Finnish knitted fabric market skyrocketed to $X in 2021, growing by 19% against the previous year. In general, consumption, however, continues to indicate a mild curtailment. Knitted fabric consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Knitted Fabric Production in Finland

In value terms, knitted fabric production expanded rapidly to $X in 2021 estimated in export price. Over the period under review, the total production indicated slight growth 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, production decreased by -2.8% against 2019 indices. The growth pace was the most rapid in 2019 with an increase of 55% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Knitted Fabric Exports

Exports from Finland

In 2021, approx. X tons of knitted or crocheted fabrics were exported from Finland; growing by 1.6% compared with the previous year. Over the period under review, total exports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +11.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +161.7% against 2012 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 59% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, knitted fabric exports surged to $X in 2021. Overall, total exports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons), Russia (X tons) and Germany (X tons) were the main destinations of knitted fabric exports from Finland, together accounting for 49% of total exports. France, Japan, the UK, Brazil, Estonia, Lithuania, Ukraine, Ireland, Sweden and Croatia lagged somewhat behind, together comprising a further 34%.

From 2012 to 2021, the biggest increases were recorded for Brazil (with a CAGR of +132.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for knitted or crocheted fabrics exports from Finland, comprising 23% of total exports. The second position in the ranking was held by Russia ($X), with an 11% share of total exports. It was followed by Estonia, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +30.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+5.4% per year) and Estonia (-2.0% per year).

Export Prices by Country

In 2021, the average knitted fabric export price amounted to $X per ton, growing by 16% against the previous year. Overall, the export price, however, recorded a perceptible shrinkage. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Estonia ($X per ton), while the average price for exports to Ireland ($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 Estonia (+0.9%), while the prices for the other major destinations experienced a decline.

Knitted Fabric Imports

Imports into Finland

Knitted fabric imports into Finland rose markedly to X tons in 2021, picking up by 7% against the previous year. In general, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 18%. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, knitted fabric imports soared to $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Sweden (X tons), Portugal (X tons) and Malta (X tons) were the main suppliers of knitted fabric imports to Finland, together comprising 54% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sweden (with a CAGR of +16.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest knitted fabric suppliers to Finland were Portugal ($X), Sweden ($X) and Malta ($X), with a combined 47% share of total imports.

In terms of the main suppliers, Sweden, with a CAGR of +14.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average knitted fabric import price stood at $X per ton in 2021, rising by 16% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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 Italy ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :