Finland: Silk Fabric Market 2024

Silk Fabric Market Size in Finland

The Finnish silk fabric market soared to $X in 2021, picking up by 23% against the previous year. Overall, consumption enjoyed noticeable growth. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Silk Fabric Production in Finland

In value terms, silk fabric production soared to $X in 2021 estimated in export price. Over the period under review, production recorded a buoyant increase. The growth pace was the most rapid in 2019 when the production volume increased by 99%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Silk Fabric Exports

Exports from Finland

In 2021, exports of woven fabrics of silk or of silk waste from Finland dropped sharply to X square meters, reducing by -28.7% on 2020. Overall, exports continue to indicate a abrupt descent. The growth pace was the most rapid in 2016 with an increase of 58%. As a result, the exports attained the peak of X square meters. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, silk fabric exports fell markedly to $X in 2021. In general, exports faced a deep setback. The growth pace was the most rapid in 2013 with an increase of 44% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Russia (X square meters) was the main destination for silk fabric exports from Finland, accounting for a 83% share of total exports. Moreover, silk fabric exports to Russia exceeded the volume sent to the second major destination, Switzerland (X square meters), more than tenfold. Denmark (X square meters) ranked third in terms of total exports with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Russia stood at -13.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+13.2% per year) and Denmark (0.0% per year).

In value terms, Russia ($X) remains the key foreign market for woven fabrics of silk or of silk waste exports from Finland, comprising 92% of total exports. The second position in the ranking was held by Denmark ($X), with a 2.9% share of total exports. It was followed by the UK, with a 1.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Russia amounted to -16.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (0.0% per year) and the UK (+7.0% per year).

Export Prices by Country

The average silk fabric export price stood at $X per square meter in 2021, rising by 8.6% against the previous year. In general, the export price, however, saw a perceptible downturn. The pace of growth appeared the most rapid in 2018 when the average export price increased by 51%. Over the period under review, the average export prices reached the maximum at $X per square meter in 2013; however, from 2014 to 2021, 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 Russia ($X per square meter), while the average price for exports to Norway ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Norway (-1.0%), while the prices for the other major destinations experienced a decline.

Silk Fabric Imports

Imports into Finland

In 2021, purchases abroad of woven fabrics of silk or of silk waste decreased by -23.4% to X square meters, falling for the second consecutive year after four years of growth. Over the period under review, imports faced a precipitous decrease. The pace of growth was the most pronounced in 2018 when imports increased by 196%. Over the period under review, imports reached the maximum at X square meters in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, silk fabric imports totaled $X in 2021. In general, imports recorded a abrupt descent. The most prominent rate of growth was recorded in 2018 when imports increased by 172% 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, Taiwan (Chinese) (X square meters) constituted the largest supplier of silk fabric to Finland, with a 52% share of total imports. Moreover, silk fabric imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, China (X square meters), threefold. The UK (X square meters) ranked third in terms of total imports with a 5.2% share.

From 2012 to 2021, the average annual growth rate of volume from Taiwan (Chinese) stood at +66.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+30.0% per year) and the UK (+17.4% per year).

In value terms, the largest silk fabric suppliers to Finland were Taiwan (Chinese) ($X), China ($X) and the UK ($X), together accounting for 72% of total imports.

Taiwan (Chinese), with a CAGR of +45.0%, recorded the highest rates of growth with regard to 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 silk fabric import price amounted to $X per square meter, growing by 47% against the previous year. Over the period under review, the import price showed a significant increase. The most prominent rate of growth was recorded in 2014 an increase of 694%. Over the period under review, average import prices reached the maximum at $X per square meter in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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 France ($X per square meter), while the price for Poland ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+24.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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