Finland: Cotton Bag Market 2024

Cotton Bag Market Size in Finland

The Finnish cotton bag market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption continues to indicate a perceptible expansion. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Cotton Bag Production in Finland

In value terms, cotton bag production rose rapidly to $X in 2021 estimated in export price. In general, production enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2018 with an increase of 128% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Cotton Bag Exports

Exports from Finland

In 2021, overseas shipments of sacks and bags of cotton decreased by -20.3% to X kg, falling for the sixth year in a row after two years of growth. Over the period under review, exports showed a abrupt contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 142%. The exports peaked at X kg in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, cotton bag exports contracted to $X in 2021. In general, exports, however, posted perceptible growth. The most prominent rate of growth was recorded in 2018 with an increase of 174% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Russia (X kg), the Philippines (X kg) and the Netherlands (X kg) were the main destinations of cotton bag exports from Finland, with a combined 53% share of total exports. Moreover, cotton bag exports in Russia exceeded the figures recorded by the second-largest exporter, the Philippines, twofold.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +287.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Russia ($X) and the UK ($X) appeared to be the largest markets for cotton bag exported from Finland worldwide, with a combined 52% share of total exports. These countries were followed by the Netherlands, Sweden, Estonia and the Philippines, which together accounted for a further 34%.

The Philippines, with a CAGR of +456.0%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cotton bag export price stood at $X per ton in 2021, surging by 20% against the previous year. In general, the export price showed significant growth. The pace of growth appeared the most rapid in 2018 when the average export price increased by 190%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat 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 the United States ($X per ton), while the average price for exports to the Philippines ($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 the UK (+35.0%), while the prices for the other major destinations experienced more modest paces of growth.

Cotton Bag Imports

Imports into Finland

In 2021, after two years of decline, there was significant growth in purchases abroad of sacks and bags of cotton, when their volume increased by 25% to X tons. In general, imports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2016 with an increase of 127%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, cotton bag imports rose notably to $X in 2021. Over the period under review, imports recorded a resilient expansion. The pace of growth appeared the most rapid in 2014 with an increase of 95%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

India (X tons), Sweden (X tons) and China (X tons) were the main suppliers of cotton bag imports to Finland, together comprising 77% of total imports. Portugal, Denmark, Poland and Germany lagged somewhat behind, together comprising a further 19%.

From 2012 to 2021, the biggest increases were recorded for Portugal (with a CAGR of +88.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Sweden ($X) and China ($X) constituted the largest cotton bag suppliers to Finland, together accounting for 73% of total imports. These countries were followed by Portugal, Denmark, Poland and Germany, which together accounted for a further 16%.

Portugal, with a CAGR of +90.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cotton bag import price stood at $X per ton in 2021, declining by -13.6% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average import price increased by 53%. The import price peaked at $X per ton in 2020, and then shrank 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 Poland ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+1.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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