Finland: Data Storage Device Market 2024

Data Storage Device Market Size in Finland

The Finnish data storage device market dropped significantly to $X in 2022, waning by -31.1% against the previous year. Over the period under review, consumption showed a abrupt shrinkage. Data storage device consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Data Storage Device Production in Finland

In value terms, data storage device production shrank remarkably to $X in 2022 estimated in export price. In general, production, however, recorded a strong increase. The growth pace was the most rapid in 2021 with an increase of 1,466% against the previous year. As a result, production reached the peak level of $X, and then reduced rapidly in the following year.

Data Storage Device Exports

Exports from Finland

Data storage device exports from Finland soared to X units in 2022, increasing by 18% against the previous year's figure. In general, exports showed a resilient expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 187% against the previous year. Over the period under review, the exports hit record highs at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, data storage device exports dropped to $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when exports increased by 65%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X units) was the main destination for data storage device exports from Finland, accounting for a 82% share of total exports. Moreover, data storage device exports to the Netherlands exceeded the volume sent to the second major destination, Slovakia (X units), more than tenfold. The third position in this ranking was taken by Lithuania (X units), with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands amounted to +32.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+187.8% per year) and Lithuania (+16.1% per year).

In value terms, the Netherlands ($X) remains the key foreign market for data storage devices exports from Finland, comprising 70% of total exports. The second position in the ranking was taken by Germany ($X), with a 7.7% share of total exports. It was followed by Russia, with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands totaled +23.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+25.3% per year) and Russia (-26.3% per year).

Export Prices by Country

The average data storage device export price stood at $X per unit in 2022, declining by -27.9% against the previous year. Overall, the export price showed a deep slump. The pace of growth appeared the most rapid in 2015 when the average export price increased by 24%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, 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 Germany ($X per unit), while the average price for exports to Slovakia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+10.2%), while the prices for the other major destinations experienced a decline.

Data Storage Device Imports

Imports into Finland

In 2022, the amount of data storage devices imported into Finland shrank slightly to X units, dropping by -4.9% on the previous year's figure. In general, imports recorded a slight slump. The growth pace was the most rapid in 2021 when imports increased by 35%. Imports peaked at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, data storage device imports reduced to $X in 2022. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 +38.2% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 42%. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

In 2022, Thailand (X units) constituted the largest supplier of data storage device to Finland, with a 49% share of total imports. Moreover, data storage device imports from Thailand exceeded the figures recorded by the second-largest supplier, the Philippines (X units), fivefold. The third position in this ranking was taken by China (X units), with a 7.6% share.

From 2012 to 2022, the average annual growth rate of volume from Thailand totaled +20.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (+15.2% per year) and China (-15.5% per year).

In value terms, Thailand ($X) constituted the largest supplier of data storage devices to Finland, comprising 46% of total imports. The second position in the ranking was taken by China ($X), with an 8.7% share of total imports. It was followed by the Philippines, with a 6.8% share.

From 2012 to 2022, the average annual growth rate of value from Thailand stood at +25.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-4.2% per year) and the Philippines (+18.5% per year).

Import Prices by Country

In 2022, the average data storage device import price amounted to $X per unit, with an increase of 2.5% against the previous year. Over the period under review, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, data storage device import price increased by +8.0% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the average import price increased by 21%. The import price peaked in 2022 and is likely to continue growth in the near future.

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 the Czech Republic ($X per unit), while the price for Mexico ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+25.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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