Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Finland - 2023

Contents:

1. Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Finland (CIF) - 2023
2. Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Finland (FOB) - 2023
3. Imports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Finland
4. Exports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Finland

Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Finland (CIF) - 2023

In November 2023, the average import price for refrigerating or freezing equipment; parts thereof, other than furniture amounted to $43.9 per unit, shrinking by -4.3% against the previous month. In general, the import price showed a mild curtailment. The most prominent rate of growth was recorded in December 2022 an increase of 51% m-o-m. As a result, import price attained the peak level of $78.0 per unit. From January 2023 to November 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 Sweden ($127 per unit), while the price for the Netherlands ($16.1 per unit) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by France (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Finland (FOB) - 2023

The average export price for refrigerating or freezing equipment; parts thereof, other than furniture stood at $101 per unit in November 2023, with an increase of 68% against the previous month. Overall, the export price saw mild growth. The pace of growth appeared the most rapid in September 2023 an increase of 126% m-o-m. The export price peaked at $163 per unit in June 2023; however, from July 2023 to November 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In November 2023, the country with the highest price was Norway ($138 per unit), while the average price for exports to Indonesia ($4.0 per unit) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+5.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Finland

For the fourth year in a row, Finland recorded growth in overseas purchases of refrigerating or freezing equipment; parts thereof, other than furniture, which increased by 0.1% to 1.3M units in 2022. The total import volume increased at an average annual rate of +6.2% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2021 with an increase of 17% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, imports of refrigerating or freezing equipment; parts thereof, other than furniture reached $55M in 2022. The total import value increased at an average annual rate of +6.4% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 28% against the previous year. Over the period under review, imports of hit record highs in 2022 and are likely to see gradual growth in the near future.

Top Suppliers of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture to Finland in 2022:

1. Estonia (375.9K units)
2. Czech Republic (282.2K units)
3. Germany (179.8K units)
4. Sweden (120.0K units)
5. Italy (93.3K units)
6. Netherlands (76.2K units)
7. Denmark (34.0K units)

Exports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Finland

In 2022, approx. 109K units of refrigerating or freezing equipment; parts thereof, other than furniture were exported from Finland; picking up by 2.4% on 2021 figures. In general, exports, however, saw a perceptible slump. The pace of growth appeared the most rapid in 2020 when exports increased by 31%. As a result, the exports reached the peak of 160K units. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of refrigerating or freezing equipment; parts thereof, other than furniture totaled $8.1M in 2022. Over the period under review, exports, however, recorded a perceptible descent. The pace of growth appeared the most rapid in 2020 with an increase of 23% against the previous year. As a result, the exports attained the peak of $11M. From 2021 to 2022, the growth of the exports of remained at a lower figure.

Top Export Markets for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture from Finland in 2022:

1. Germany (25.8K units)
2. Sweden (22.0K units)
3. Norway (7.8K units)
4. Estonia (5.4K units)
5. South Korea (5.4K units)
6. United Kingdom (5.2K units)
7. Colombia (5.2K units)
8. United States (4.6K units)
9. Denmark (4.6K units)
10. Netherlands (3.7K units)
11. Spain (3.1K units)
12. Italy (2.9K units)
13. Poland (1.9K units)

Source: IndexBox Market Intelligence Platform