Plugs and Socket Price in Finland - 2024
Contents:
- Plugs and Socket Price in Finland (CIF) - 2024
- Plugs and Socket Price in Finland (FOB) - 2022
- Plugs and Socket Imports in Finland
- Plugs and Socket Exports in Finland
Plugs and Socket Price in Finland (CIF) - 2024
The average plugs and socket import price stood at $645 per thousand units in August 2023, dropping by -7.3% against the previous month. Over the period under review, the import price showed a pronounced decline. The most prominent rate of growth was recorded in April 2023 when the average import price increased by 10% m-o-m. As a result, import price attained the peak level of $0.8 per unit. From May 2023 to August 2023, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Switzerland ($2.0 per unit), while the price for Turkey ($231 per thousand units) was amongst the lowest.
From February 2023 to August 2023, the most notable rate of growth in terms of prices was attained by Austria (+7.3%), while the prices for the other major suppliers experienced a decline.
Plugs and Socket Price in Finland (FOB) - 2022
In 2022, the average plugs and socket export price amounted to $0.7 per unit, increasing by 14% against the previous year. Overall, export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plugs and socket export price increased by +17.7% against 2020 indices. The pace of growth was the most pronounced in 2017 when the average export price increased by 27% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Kazakhstan ($3 per unit), while the average price for exports to Lithuania ($0.3 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+12.4%), while the prices for the other major destinations experienced more modest paces of growth.
Plugs and Socket Imports in Finland
In 2022, plugs and socket imports into Finland soared to 175M units, jumping by 25% on the previous year. In general, total imports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +11.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +59.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 27% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.
In value terms, plugs and socket imports reached $91M in 2022. Overall, total imports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +10.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +50.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 34%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in years to come.
| Import of Plugs and Socket in Finland (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 14.9 | 21.6 | 24.7 | 29.2 | 25.1% |
| China | 16.6 | 9.5 | 19.9 | 10.9 | -13.1% |
| Sweden | 1.5 | 5.7 | 8.7 | 10.2 | 89.5% |
| Netherlands | 0.4 | 4.3 | 5.3 | 5.6 | 141.0% |
| Hong Kong SAR | 0.1 | 0.3 | 0.6 | 5.6 | 282.6% |
| France | 1.0 | 1.5 | 3.9 | 4.0 | 58.7% |
| Taiwan (Chinese) | 2.2 | 1.1 | 1.9 | 1.5 | -12.0% |
| Czech Republic | 1.8 | 1.6 | 1.5 | 1.4 | -8.0% |
| Estonia | 1.7 | 1.2 | 1.2 | 1.3 | -8.6% |
| Austria | 0.7 | 0.8 | 0.9 | 1.2 | 19.7% |
| Lithuania | 0.5 | 0.6 | 0.9 | 1.1 | 30.1% |
| Italy | 0.7 | 0.6 | 0.7 | 0.7 | 0.0% |
| Denmark | 2.9 | 0.3 | 0.5 | 0.6 | -40.9% |
| Others | 23.4 | 11.1 | 10.1 | 17.8 | -8.7% |
| Total | 68.3 | 60.3 | 81.0 | 91.0 | 10.0% |
Top Suppliers of Plugs and Socket to Finland in 2022:
- Germany (54.2M units)
- China (31.3M units)
- Sweden (28.5M units)
- Netherlands (11.2M units)
- Hong Kong SAR (6.5M units)
- Austria (6.4M units)
- Czech Republic (6.0M units)
- France (5.4M units)
- Lithuania (4.6M units)
- Estonia (3.6M units)
- Italy (3.1M units)
- Taiwan (Chinese) (1.8M units)
- Denmark (1.3M units)
Plugs and Socket Exports in Finland
In 2022, overseas shipments of electrical plugs and sockets for under 1000 v decreased by -2.5% to 37M units for the first time since 2018, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +11.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 21% against the previous year. As a result, the exports reached the peak of 38M units, and then declined in the following year.
In value terms, plugs and socket exports reached $26M in 2022. Over the period under review, total exports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +12.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +42.3% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 26%. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the near future.
| Export of Plugs and Socket in Finland (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Estonia | 4.3 | 4.1 | 4.7 | 5.3 | 7.2% |
| Sweden | 2.5 | 3.8 | 3.3 | 3.0 | 6.3% |
| Germany | 0.5 | 0.7 | 2.9 | 2.3 | 66.3% |
| Vietnam | N/A | N/A | 0.6 | 2.1 | 250.0% |
| Netherlands | 0.8 | 0.8 | 2.5 | 1.9 | 33.4% |
| Kazakhstan | N/A | N/A | N/A | 1.8 | 0% |
| India | 2.0 | 0.7 | 1.1 | 1.4 | -11.2% |
| China | 1.2 | 1.4 | 1.8 | 1.4 | 5.3% |
| Poland | 0.5 | 0.5 | 0.8 | 1.1 | 30.1% |
| Lithuania | 0.2 | 0.1 | 0.2 | 0.5 | 35.7% |
| Russia | 2.1 | 2.0 | 1.3 | 0.4 | -42.5% |
| Norway | 1.0 | 1.2 | 0.6 | 0.1 | -53.6% |
| Others | 3.1 | 3.4 | 3.7 | 4.8 | 15.7% |
| Total | 18.3 | 18.7 | 23.5 | 26.0 | 12.4% |
Top Export Markets for Plugs and Socket from Finland in 2022:
- Sweden (9.0M units)
- Estonia (5.9M units)
- Germany (5.4M units)
- Netherlands (4.8M units)
- Poland (1.7M units)
- Lithuania (1.6M units)
- India (1.0M units)
- China (1.0M units)
- Vietnam (0.8M units)
- Kazakhstan (0.6M units)
- Norway (0.3M units)
- Russia (0.3M units)
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