Estonia: Interchangeable Tool Market 2024

Interchangeable Tool Market Size in Estonia

In 2022, the Estonian interchangeable tool market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2019 indices. As a result, consumption attained the peak level of $X, and then fell in the following year.

Interchangeable Tool Production in Estonia

In value terms, interchangeable tool production declined rapidly to $X in 2022 estimated in export price. Over the period under review, production faced a deep slump. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

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Interchangeable Tool Exports

Exports from Estonia

In 2022, shipments abroad of interchangeable tools for hand tools decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports, however, saw resilient growth. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, interchangeable tool exports declined rapidly to $X in 2022. Overall, exports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The exports peaked at $X in 2021, and then shrank sharply in the following year.

Exports by Country

Russia (X tons), Lithuania (X tons) and Latvia (X tons) were the main destinations of interchangeable tool exports from Estonia, with a combined X% share of total exports. Finland, Sweden, Norway and the United States lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for interchangeable tool exported from Estonia were Russia ($X), Lithuania ($X) and Latvia ($X), together accounting for X% of total exports. Finland, Sweden, the United States and Norway lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, the United States, with a CAGR of X%, recorded 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

The average interchangeable tool export price stood at $X per ton in 2022, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

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 the United States ($X per ton), while the average price for exports to Finland ($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 Latvia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Interchangeable Tool Imports

Imports into Estonia

In 2022, purchases abroad of interchangeable tools for hand tools increased by X% to X tons, rising for the third consecutive year after four years of decline. Overall, total imports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, interchangeable tool imports declined to $X in 2022. Over the period under review, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

China (X tons), Germany (X tons) and Finland (X tons) were the main suppliers of interchangeable tool imports to Estonia, with a combined X% share of total imports. Poland, Sweden, Denmark, the Netherlands, Latvia, Slovakia, Lithuania, Ukraine, Italy and Russia lagged somewhat behind, together comprising a further X%.

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

In value terms, Germany ($X), China ($X) and Finland ($X) were the largest interchangeable tool suppliers to Estonia, together accounting for X% of total imports. Sweden, Poland, the Netherlands, Italy, Latvia, Lithuania, Denmark, Slovakia, Ukraine and Russia lagged somewhat behind, together comprising a further X%.

Slovakia, with a CAGR of X%, saw the highest growth rate of 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 2022, the average interchangeable tool import price amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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