Scandinavia: Electronic Chip Market 2024

Electronic Chip Market Size in Scandinavia

The Scandinavia electronic chip market was finally on the rise to reach $X in 2021, after two years of decline. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Electronic Chip Production in Scandinavia

In value terms, electronic chip production contracted dramatically to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 12%. The level of production peaked at $X in 2020, and then fell significantly in the following year.

Electronic Chip Exports

Exports in Scandinavia

In 2021, the amount of electronic chips exported in Scandinavia rose remarkably to X units, with an increase of 13% on 2020 figures. In general, exports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 28%. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in the immediate term.

In value terms, electronic chip exports skyrocketed to $X in 2021. Overall, exports, however, saw a slight setback. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Denmark was the key exporter of electronic chips in Scandinavia, with the volume of exports finishing at X units, which was near 79% of total exports in 2021. Sweden (X units) ranks second in terms of the total exports with a 12% share, followed by Finland (4.7%). Norway (X units) followed a long way behind the leaders.

Denmark was also the fastest-growing in terms of the electronic chips exports, with a CAGR of +18.6% from 2012 to 2021. At the same time, Norway (+9.0%) displayed positive paces of growth. Finland experienced a relatively flat trend pattern. By contrast, Sweden (-11.0%) illustrated a downward trend over the same period. While the share of Denmark (+50 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Finland (-3 p.p.) and Sweden (-47.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest electronic chip supplying countries in Scandinavia were Sweden ($X), Finland ($X) and Denmark ($X), together comprising 95% of total exports.

In terms of the main exporting countries, Denmark, with a CAGR of +11.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per unit, growing by 36% against the previous year. Overall, the export price, however, recorded a abrupt shrinkage. Over the period under review, the export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Finland ($X per unit), while Denmark ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+8.6%), while the other leaders experienced mixed trends in the export price figures.

Electronic Chip Imports

Imports in Scandinavia

In 2021, overseas purchases of electronic chips increased by 35% to X units for the first time since 2016, thus ending a four-year declining trend. In general, imports, however, showed a perceptible descent. The volume of import peaked at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, electronic chip imports soared to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Sweden (X units) represented the major importer of electronic chips, constituting 53% of total imports. Denmark (X units) ranks second in terms of the total imports with a 25% share, followed by Finland (16%) and Norway (5.9%).

Imports into Sweden decreased at an average annual rate of -3.8% from 2012 to 2021. At the same time, Finland (+3.5%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +3.5% from 2012-2021. By contrast, Denmark (-3.1%) and Norway (-5.0%) illustrated a downward trend over the same period. Finland (+7 p.p.) significantly strengthened its position in terms of the total imports, while Sweden saw its share reduced by -5.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X), Finland ($X) and Denmark ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 91% of total imports.

Finland, with a CAGR of +10.6%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per unit, surging by 28% against the previous year. Import price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 an increase of 28%. Over the period under review, import prices attained the maximum in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Finland ($X per unit), while Denmark ($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 (+10.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform