Finland: Rum Market 2024

Rum Market Size in Finland

The Finnish rum market dropped to $X in 2022, therefore, remained relatively stable against the previous year. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. Over the period under review, the market reached the maximum level at $X in 2021, and then reduced slightly in the following year.

Rum Production in Finland

In value terms, rum production shrank modestly to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 40% against the previous year. Over the period under review, production reached the peak level at $X in 2021, and then declined in the following year.

Rum Exports

Exports from Finland

Rum exports from Finland soared to X litres in 2022, picking up by 19% compared with the previous year's figure. Overall, exports, however, continue to indicate a mild curtailment. The most prominent rate of growth was recorded in 2017 when exports increased by 49% against the previous year. As a result, the exports reached the peak of X litres. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, rum exports expanded sharply to $X in 2022. Over the period under review, exports, however, recorded a pronounced reduction. The most prominent rate of growth was recorded in 2017 when exports increased by 212% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Estonia (X litres), Sweden (X litres) and Norway (X litres) were the main destinations of rum exports from Finland, together accounting for 86% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Norway (with a CAGR of +89.1%), while the other leaders experienced more modest paces of growth.

In value terms, Estonia ($X), Sweden ($X) and Germany ($X) appeared to be the largest markets for rum exported from Finland worldwide, together comprising 78% of total exports. These countries were followed by Norway, Russia and Latvia, which together accounted for a further 20%.

Among the main countries of destination, Norway, with a CAGR of +64.0%, saw the highest growth rate of 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 2022, the average rum export price amounted to $X per litre, dropping by -5.9% against the previous year. Over the period under review, the export price saw a pronounced decline. The most prominent rate of growth was recorded in 2017 when the average export price increased by 110%. As a result, the export price reached the peak level of $X per litre. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+5.3%), while the prices for the other major destinations experienced mixed trend patterns.

Rum Imports

Imports into Finland

In 2022, approx. X litres of rum were imported into Finland; flattening at the previous year. The total import volume increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 with an increase of 22%. Over the period under review, imports reached the maximum at X litres in 2021, and then declined slightly in the following year.

In value terms, rum imports expanded slightly to $X in 2022. The total import value increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The growth pace was the most rapid in 2018 with an increase of 21%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

Imports by Country

France (X litres), Guyana (X litres) and Barbados (X litres) were the main suppliers of rum imports to Finland, with a combined 54% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Barbados (with a CAGR of +41.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Barbados ($X) and Jamaica ($X) were the largest rum suppliers to Finland, with a combined 49% share of total imports.

Barbados, with a CAGR of +31.9%, 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 2022, the average rum import price amounted to $X per litre, rising by 2.4% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 12% against the previous year. The import price peaked at $X per litre in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per litre), while the price for the Netherlands ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :