Finland: Hand Tools Market 2024

Hand Tools Market Size in Finland

In 2022, the Finnish hand tools market increased by X% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption recorded a relatively flat trend pattern. Hand tools consumption peaked in 2022 and is expected to retain growth in the immediate term.

Hand Tools Production in Finland

In value terms, hand tools production soared to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

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Hand Tools Exports

Exports from Finland

In 2022, overseas shipments of hand tools decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports saw a pronounced downturn. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, hand tools exports shrank to $X in 2022. Overall, exports continue to indicate a pronounced slump. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons), Sweden (X tons) and Estonia (X tons) were the main destinations of hand tools exports from Finland, with a combined X% share of total exports. The Netherlands, Latvia, Lithuania, Canada, Russia, Germany, Australia, Norway, Poland and France lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Estonia ($X) and Sweden ($X) appeared to be the largest markets for hand tools exported from Finland worldwide, with a combined X% share of total exports. The Netherlands, Germany, Russia, Lithuania, Latvia, Canada, Norway, Australia, Poland and France lagged somewhat behind, together accounting for a further X%.

The Netherlands, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average hand tools export price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of X%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (X%), while the prices for the other major destinations experienced more modest paces of growth.

Hand Tools Imports

Imports into Finland

In 2022, purchases abroad of hand tools increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, hand tools imports expanded modestly to $X in 2022. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest hand tools supplier to Finland, with a X% share of total imports. Moreover, hand tools imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. Sweden (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Sweden (X% per year).

In value terms, the largest hand tools suppliers to Finland were Germany ($X), Sweden ($X) and China ($X), together comprising X% of total imports. The Netherlands, Taiwan (Chinese), Poland, the United States, Switzerland, Estonia and India lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, the Netherlands, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average hand tools import price amounted to $X per ton, rising by X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of X%. As a result, import price attained the peak level of $X per ton; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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