Finland: Sewing Machine Needle Market 2024

Sewing Machine Needle Market Size in Finland

The Finnish sewing machine needle market fell notably to $X in 2022, dropping by -34% 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). Over the period under review, consumption saw a abrupt contraction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Sewing Machine Needle Exports

Exports from Finland

In 2022, after two years of growth, there was significant decline in overseas shipments of sewing machine needles, when their volume decreased by -19% to X units. In general, exports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 1,642%. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, sewing machine needle exports reduced sharply to $X in 2022. Over the period under review, exports, however, showed strong growth. The pace of growth appeared the most rapid in 2016 with an increase of 4,143%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Norway (X units), Denmark (X units) and Sweden (X units) were the main destinations of sewing machine needle exports from Finland, with a combined 79% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of +26.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sewing machine needle exported from Finland were Denmark ($X), Norway ($X) and Sweden ($X), with a combined 89% share of total exports.

Sweden, with a CAGR of +43.2%, recorded the highest growth rate of the value of exports, in terms of 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

In 2022, the average sewing machine needle export price amounted to $X per thousand units, shrinking by -9.2% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average export price increased by 144% against the previous year. The export price peaked at $X per thousand units in 2021, and then dropped in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.

Sewing Machine Needle Imports

Imports into Finland

In 2022, sewing machine needle imports into Finland dropped markedly to X units, reducing by -34.3% against the year before. Overall, imports faced a deep slump. The pace of growth appeared the most rapid in 2021 with an increase of 103% against the previous year. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, sewing machine needle imports declined markedly to $X in 2022. In general, imports recorded a perceptible downturn. The pace of growth appeared the most rapid in 2017 when imports increased by 47%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Brazil (X units), Vietnam (X units) and India (X units) were the main suppliers of sewing machine needle imports to Finland, with a combined 90% share of total imports. Sweden, China, Germany and Japan lagged somewhat behind, together comprising a further 9.6%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sweden (with a CAGR of +46.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sewing machine needle suppliers to Finland were Vietnam ($X), India ($X) and Brazil ($X), with a combined 93% share of total imports. China, Sweden, Germany and Japan lagged somewhat behind, together comprising a further 6.8%.

Among the main suppliers, Sweden, with a CAGR of +31.6%, recorded the highest growth rate of 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 sewing machine needle import price stood at $X per thousand units in 2022, increasing by 15% against the previous year. Over the period under review, the import price recorded a strong increase. The pace of growth appeared the most rapid in 2013 an increase of 186% against the previous year. Over the period under review, average import prices hit record highs at $X per thousand units in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per thousand units), while the price for Germany ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+52.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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