Finland: Cotton Fabric Market 2024

Cotton Fabric Market Size in Finland

In 2021, the Finnish cotton fabric market decreased by -7.7% to $X, falling for the third year in a row after two years of growth. Over the period under review, consumption saw a abrupt shrinkage. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Cotton Fabric Production in Finland

In value terms, cotton fabric production dropped slightly to $X in 2021 estimated in export price. In general, production faced a abrupt setback. The pace of growth was the most pronounced in 2020 with an increase of 6.2% against the previous year. Cotton fabric production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Cotton Fabric Exports

Exports from Finland

In 2021, approx. X tons of woven fabrics of cotton were exported from Finland; jumping by 16% against the year before. In general, total exports indicated a slight increase from 2012 to 2021: its volume increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +63.2% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 41%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, cotton fabric exports reached $X in 2021. Over the period under review, exports, however, showed a perceptible shrinkage. The pace of growth was the most pronounced in 2018 when exports increased by 9.2%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Estonia (X tons) was the main destination for cotton fabric exports from Finland, with a 56% share of total exports. Moreover, cotton fabric exports to Estonia exceeded the volume sent to the second major destination, Vietnam (X tons), fivefold. Latvia (X tons) ranked third in terms of total exports with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Estonia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+129.4% per year) and Latvia (+17.2% per year).

In value terms, Estonia ($X) remains the key foreign market for woven fabrics of cotton exports from Finland, comprising 40% of total exports. The second position in the ranking was taken by Japan ($X), with a 10% share of total exports. It was followed by Lithuania, with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Estonia stood at -1.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-9.0% per year) and Lithuania (+2.4% per year).

Export Prices by Country

The average cotton fabric export price stood at $X per ton in 2021, falling by -12.7% against the previous year. Overall, the export price showed a noticeable curtailment. The pace of growth was the most pronounced in 2019 when the average export price increased by 100% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+0.5%), while the prices for the other major destinations experienced more modest paces of growth.

Cotton Fabric Imports

Imports into Finland

In 2021, approx. X tons of woven fabrics of cotton were imported into Finland; increasing by 3.1% on the year before. Over the period under review, imports, however, recorded a abrupt descent. The growth pace was the most rapid in 2020 with an increase of 8.8% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, cotton fabric imports reduced slightly to $X in 2021. Overall, imports, however, recorded a deep setback. The growth pace was the most rapid in 2018 when imports increased by 15% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), Turkey (X tons) and Pakistan (X tons) were the main suppliers of cotton fabric imports to Finland, together accounting for 65% of total imports. China, Italy, Spain, Portugal, the Netherlands, Belgium, the UK and France lagged somewhat behind, together comprising a further 24%.

From 2012 to 2021, the biggest increases were recorded for Portugal (with a CAGR of +17.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Turkey ($X) and Italy ($X) constituted the largest cotton fabric suppliers to Finland, together comprising 59% of total imports. Pakistan, China, Portugal, Spain, Belgium, the Netherlands, the UK and France lagged somewhat behind, together comprising a further 30%.

Portugal, with a CAGR of +20.0%, recorded the highest growth rate of the value of imports, in terms of 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 cotton fabric import price amounted to $X per ton, reducing by -3.6% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 16% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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