Finland: Market for Machine-Tools For Working Wood 2024

Market Size for Machine-Tools For Working Wood in Finland

The Finnish machine-tool for working wood market skyrocketed to $X in 2021, rising by 48% against the previous year. Over the period under review, consumption, however, faced a deep downturn. Machine-tool for working wood consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Machine-Tools For Working Wood in Finland

In value terms, machine-tool for working wood production declined to $X in 2021 estimated in export price. Overall, production, however, saw a abrupt downturn. The most prominent rate of growth was recorded in 2019 with an increase of 126%. Machine-tool for working wood production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Machine-Tools For Working Wood

Exports from Finland

In 2021, overseas shipments of machine-tools for working wood were finally on the rise to reach X tons after two years of decline. Over the period under review, exports, however, showed a noticeable curtailment. The pace of growth was the most pronounced in 2016 with an increase of 40% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, machine-tool for working wood exports surged to $X in 2021. Overall, exports, however, continue to indicate a perceptible shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 30% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Russia (X tons) was the main destination for machine-tool for working wood exports from Finland, with a 40% share of total exports. Moreover, machine-tool for working wood exports to Russia exceeded the volume sent to the second major destination, Germany (X tons), fourfold. The United States (X tons) ranked third in terms of total exports with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Russia amounted to +5.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+4.5% per year) and the United States (+57.0% per year).

In value terms, Russia ($X) remains the key foreign market for machine-tools for working wood exports from Finland, comprising 38% of total exports. The second position in the ranking was held by Germany ($X), with a 10% share of total exports. It was followed by the United States, with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Russia totaled +3.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+10.3% per year) and the United States (+62.2% per year).

Export Prices by Country

The average machine-tool for working wood export price stood at $X per ton in 2021, dropping by -4.3% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 24% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Latvia ($X per ton), while the average price for exports to Norway ($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 (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine-Tools For Working Wood

Imports into Finland

In 2021, supplies from abroad of machine-tools for working wood increased by 17% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, recorded a pronounced contraction. The pace of growth was the most pronounced in 2018 with an increase of 89%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, machine-tool for working wood imports shrank modestly to $X in 2021. Over the period under review, imports, however, continue to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2018 when imports increased by 30% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest machine-tool for working wood supplier to Finland, accounting for a 45% share of total imports. Moreover, machine-tool for working wood imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was held by Sweden (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at -4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+0.6% per year) and Sweden (+13.2% per year).

In value terms, the largest machine-tool for working wood suppliers to Finland were China ($X), Germany ($X) and Italy ($X), together comprising 67% of total imports. Sweden, Austria, Estonia, the Netherlands, Denmark and Poland lagged somewhat behind, together accounting for a further 25%.

The Netherlands, with a CAGR of +26.7%, saw 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

In 2021, the average machine-tool for working wood import price amounted to $X per ton, dropping by -15.7% against the previous year. Overall, the import price, however, showed a mild increase. The pace of growth was the most pronounced in 2019 an increase of 31% against the previous year. The import price peaked at $X per ton in 2020, and then dropped significantly in the following year.

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 ($X per ton), while the price for Poland ($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 (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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