Finland: Knotted Carpet Market 2024

Knotted Carpet Market Size in Finland

The Finnish knotted carpet market expanded markedly to $X in 2022, picking up by 11% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.5% 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 +142.6% against 2017 indices. Knotted carpet consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Knotted Carpet Exports

Exports from Finland

In 2022, after two years of growth, there was significant decline in overseas shipments of knotted carpets and other knotted textile floor coverings, when their volume decreased by -7% to X square meters. Overall, exports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 582%. Over the period under review, the exports hit record highs at X square meters in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, knotted carpet exports skyrocketed to $X in 2022. In general, exports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 212%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Germany (X square meters) was the main destination for knotted carpet exports from Finland, with a 62% share of total exports. Moreover, knotted carpet exports to Germany exceeded the volume sent to the second major destination, Estonia (X square meters), tenfold. The third position in this ranking was held by Sierra Leone (X square meters), with a 3% share.

From 2012 to 2022, the average annual growth rate of volume to Germany amounted to +87.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+18.1% per year) and Sierra Leone (+1,900.0% per year).

In value terms, Germany ($X) emerged as the key foreign market for knotted carpets and other knotted textile floor coverings exports from Finland, comprising 54% of total exports. The second position in the ranking was taken by Poland ($X), with a 12% share of total exports. It was followed by Estonia, with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany totaled +93.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+79.2% per year) and Estonia (+42.9% per year).

Export Prices by Country

The average knotted carpet export price stood at $X per square meter in 2022, jumping by 144% against the previous year. Overall, the export price saw a buoyant increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by 331%. The export price peaked at $X per square meter in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($X per square meter), while the average price for exports to India ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Latvia (+24.7%), while the prices for the other major destinations experienced more modest paces of growth.

Knotted Carpet Imports

Imports into Finland

In 2022, knotted carpet imports into Finland rose significantly to X square meters, growing by 9.9% against the previous year's figure. Over the period under review, total imports indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +109.2% against 2018 indices. The most prominent rate of growth was recorded in 2019 with an increase of 86% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, knotted carpet imports amounted to $X in 2022. In general, total imports indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +29.5% against 2018 indices. The pace of growth was the most pronounced in 2018 when imports increased by 27%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, India (X square meters) constituted the largest supplier of knotted carpet to Finland, with a 66% share of total imports. Moreover, knotted carpet imports from India exceeded the figures recorded by the second-largest supplier, Sweden (X square meters), sevenfold. The third position in this ranking was held by Iran (X square meters), with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from India totaled +7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+7.2% per year) and Iran (-6.0% per year).

In value terms, India ($X) constituted the largest supplier of knotted carpets and other knotted textile floor coverings to Finland, comprising 62% of total imports. The second position in the ranking was taken by Iran ($X), with a 13% share of total imports. It was followed by Turkey, with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India totaled +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Iran (-7.2% per year) and Turkey (+7.3% per year).

Import Prices by Country

The average knotted carpet import price stood at $X per square meter in 2022, stabilizing at the previous year. Overall, the import price saw a mild slump. The growth pace was the most rapid in 2018 an increase of 58% against the previous year. As a result, import price reached the peak level of $X per square meter. From 2019 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Egypt ($X per square meter), while the price for Sweden ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+40.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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