Finland: Travel Set Market 2024

Travel Set Market Size in Finland

In 2021, the Finnish travel set market decreased by -31.2% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption, however, posted a tangible increase. Travel set consumption peaked at $X in 2020, and then shrank rapidly in the following year.

Travel Set Production in Finland

In value terms, travel set production fell notably to $X in 2021 estimated in export price. In general, production, however, continues to indicate a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of 825% against the previous year. Travel set production peaked at $X in 2020, and then reduced dramatically in the following year.

Travel Set Exports

Exports from Finland

In 2021, after two years of decline, there was significant growth in shipments abroad of travel sets, when their volume increased by 57% to X units. Overall, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 1,632% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, travel set exports surged to $X in 2021. Over the period under review, exports showed a significant expansion. The pace of growth appeared the most rapid in 2015 with an increase of 684%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for travel set exports from Finland, accounting for a 82% share of total exports. Moreover, travel set exports to the United States exceeded the volume sent to the second major destination, Estonia (X units), more than tenfold. The third position in this ranking was held by Lithuania (X units), with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +55.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (-7.6% per year) and Lithuania (+12.8% per year).

In value terms, the United States ($X) emerged as the key foreign market for travel sets exports from Finland, comprising 53% of total exports. The second position in the ranking was held by Estonia ($X), with an 11% share of total exports. It was followed by Lithuania, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +60.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+4.5% per year) and Lithuania (+53.1% per year).

Export Prices by Country

In 2021, the average travel set export price amounted to $X per unit, falling by -26.6% against the previous year. In general, the export price, however, enjoyed a pronounced increase. The pace of growth was the most pronounced in 2019 when the average export price increased by 60%. The export price peaked at $X per unit in 2020, and then fell significantly 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 Norway ($X per unit), while the average price for exports to the United States ($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 Lithuania (+36.1%), while the prices for the other major destinations experienced more modest paces of growth.

Travel Set Imports

Imports into Finland

In 2021, supplies from abroad of travel sets decreased by -33.6% to X units, falling for the sixth year in a row after two years of growth. Over the period under review, imports showed a sharp slump. The pace of growth appeared the most rapid in 2014 with an increase of 23% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, travel set imports fell dramatically to $X in 2021. In general, imports recorded a deep setback. The most prominent rate of growth was recorded in 2020 when imports increased by 18% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the Netherlands (X units) constituted the largest supplier of travel set to Finland, with a 56% share of total imports. Moreover, travel set imports from the Netherlands exceeded the figures recorded by the second-largest supplier, China (X units), threefold. The third position in this ranking was taken by Sweden (X units), with a 7.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the Netherlands stood at +60.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-38.9% per year) and Sweden (-29.8% per year).

In value terms, China ($X), Germany ($X) and the Netherlands ($X) appeared to be the largest travel set suppliers to Finland, with a combined 65% share of total imports. These countries were followed by Sweden, Denmark, the UK and Taiwan (Chinese), which together accounted for a further 24%.

Taiwan (Chinese), with a CAGR of +81.9%, recorded 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 2021, the average travel set import price amounted to $X per unit, rising by 12% against the previous year. Over the period under review, the import price posted a remarkable increase. The growth pace was the most rapid in 2020 when the average import price increased by 96%. The import price peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+45.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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