Finland: Wooden Office Furniture Market 2024

Wooden Office Furniture Market Size in Finland

In 2021, the Finnish wooden office furniture market increased by 14% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Wooden Office Furniture Production in Finland

In value terms, wooden office furniture production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when the production volume increased by 27% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Wooden Office Furniture Exports

Exports from Finland

In 2021, overseas shipments of wooden furniture of a kind used in offices decreased by -12.8% to X units, falling for the second year in a row after six years of growth. Overall, exports, however, showed a resilient increase. The pace of growth appeared the most rapid in 2017 when exports increased by 193% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, wooden office furniture exports soared to $X in 2021. In general, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 157%. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for wooden office furniture exports from Finland, accounting for a 24% share of total exports. Moreover, wooden office furniture exports to the United States exceeded the volume sent to the second major destination, Germany (X units), threefold. The third position in this ranking was taken by Switzerland (X units), with a 6.9% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +50.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+56.6% per year) and Switzerland (+49.7% per year).

In value terms, the United States ($X) remains the key foreign market for wooden furniture of a kind used in offices exports from Finland, comprising 24% of total exports. The second position in the ranking was taken by Germany ($X), with a 7.3% share of total exports. It was followed by Switzerland, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +66.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+72.8% per year) and Switzerland (+65.3% per year).

Export Prices by Country

The average wooden office furniture export price stood at $X per unit in 2021, rising by 38% against the previous year. Over the period under review, the export price posted resilient growth. The pace of growth was the most pronounced in 2020 an increase of 38%. Over the period under review, the average export prices reached the peak figure in 2021 and is expected to retain growth in the near future.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Australia ($X per unit) and Switzerland ($X per unit), while the average price for exports to Canada ($X per unit) and the UK ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+11.8%), while the prices for the other major destinations experienced more modest paces of growth.

Wooden Office Furniture Imports

Imports into Finland

In 2021, purchases abroad of wooden furniture of a kind used in offices increased by 12% to X units, rising for the second year in a row after two years of decline. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 35%. Imports peaked in 2021 and are likely to continue growth in the near future.

In value terms, wooden office furniture imports expanded modestly to $X in 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 27%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Sweden (X units) constituted the largest supplier of wooden office furniture to Finland, accounting for a 57% share of total imports. Moreover, wooden office furniture imports from Sweden exceeded the figures recorded by the second-largest supplier, Estonia (X units), fourfold. Poland (X units) ranked third in terms of total imports with a 9.8% share.

From 2012 to 2021, the average annual growth rate of volume from Sweden stood at +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (+6.8% per year) and Poland (-1.0% per year).

In value terms, Sweden ($X) constituted the largest supplier of wooden furniture of a kind used in offices to Finland, comprising 50% of total imports. The second position in the ranking was taken by Lithuania ($X), with a 20% share of total imports. It was followed by Estonia, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Sweden was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+24.0% per year) and Estonia (+3.0% per year).

Import Prices by Country

The average wooden office furniture import price stood at $X per unit in 2021, waning by -6.2% against the previous year. In general, the import price recorded a mild shrinkage. The most prominent rate of growth was recorded in 2015 when the average import price increased by 13%. As a result, import price attained the peak level of $X per unit. From 2016 to 2021, the average import prices failed to regain momentum.

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 Lithuania ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+15.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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