Finland: Telecommunications Instrument Market 2024

Telecommunications Instrument Market Size in Finland

The Finnish telecommunications instrument market shrank to $X in 2021, with a decrease of -9.5% against the previous year. In general, consumption, however, showed a perceptible increase. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Telecommunications Instrument Production in Finland

In value terms, telecommunications instrument production shrank modestly to $X in 2021 estimated in export price. Over the period under review, production, however, showed prominent growth. The most prominent rate of growth was recorded in 2019 when the production volume increased by 55% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Telecommunications Instrument Exports

Exports from Finland

In 2021, overseas shipments of telecommunications instruments were finally on the rise to reach X units after three years of decline. Over the period under review, exports, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2016 when exports increased by 69%. Over the period under review, the exports attained the peak figure at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, telecommunications instrument exports reached $X in 2021. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when exports increased by 43%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for telecommunications instrument exports from Finland, accounting for a 45% share of total exports. Moreover, telecommunications instrument exports to the United States exceeded the volume sent to the second major destination, Mexico (X units), threefold. China (X units) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +14.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+25.2% per year) and China (-12.0% per year).

In value terms, the United States ($X) remains the key foreign market for telecommunications instruments exports from Finland, comprising 35% of total exports. The second position in the ranking was held by Mexico ($X), with a 6.1% share of total exports. It was followed by India, with a 5.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +15.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+30.3% per year) and India (+1.8% per year).

Export Prices by Country

The average telecommunications instrument export price stood at $X per unit in 2021, which is down by -23.1% against the previous year. Overall, the export price, however, showed a strong expansion. The pace of growth appeared the most rapid in 2020 an increase of 105% against the previous year. As a result, the export price reached the peak level of $X per unit, and then dropped remarkably in the following year.

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 Malaysia ($X per unit), while the average price for exports to Mexico ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+25.7%), while the prices for the other major destinations experienced more modest paces of growth.

Telecommunications Instrument Imports

Imports into Finland

In 2021, supplies from abroad of telecommunications instruments increased by 47% to X units for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, continue to indicate a deep contraction. Imports peaked at X units in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, telecommunications instrument imports skyrocketed to $X in 2021. Overall, total imports indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +142.4% against 2016 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 34% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, the UK (X units) constituted the largest telecommunications instrument supplier to Finland, accounting for a 46% share of total imports. Moreover, telecommunications instrument imports from the UK exceeded the figures recorded by the second-largest supplier, the United States (X units), fourfold. The third position in this ranking was held by South Korea (X units), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the UK stood at +32.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-13.6% per year) and South Korea (-1.2% per year).

In value terms, the UK ($X) constituted the largest supplier of telecommunications instruments to Finland, comprising 66% of total imports. The second position in the ranking was taken by the United States ($X), with a 9.6% share of total imports. It was followed by Germany, with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the UK stood at +46.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-4.4% per year) and Germany (-3.5% per year).

Import Prices by Country

The average telecommunications instrument import price stood at $X per unit in 2021, declining by -11.2% against the previous year. Overall, the import price, however, showed buoyant growth. The most prominent rate of growth was recorded in 2020 an increase of 101%. As a result, import price reached the peak level of $X per unit, and then reduced 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 Germany ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+35.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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