Estonia: Market for Iron or Steel Wire Products 2024

Market Size for Iron or Steel Wire Products in Estonia

In 2022, after two years of growth, there was decline in the Estonian market for iron or steel wire products, when its value decreased by X% to $X. In general, consumption continues to indicate a perceptible slump. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Iron or Steel Wire Products in Estonia

In value terms, iron or steel wire product production reached $X in 2022 estimated in export price. Overall, production, however, saw a buoyant expansion. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, production hit record highs in 2022 and is expected to retain growth in the near future.

Exports of Iron or Steel Wire Products

Exports from Estonia

After three years of growth, overseas shipments of iron or steel wire products decreased by X% to X tons in 2022. Over the period under review, exports, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons, and then shrank dramatically in the following year.

In value terms, iron or steel wire product exports contracted sharply to $X in 2022. Overall, exports, however, saw prominent growth. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Finland (X tons) was the main destination for iron or steel wire product exports from Estonia, with a X% share of total exports. Moreover, iron or steel wire product exports to Finland exceeded the volume sent to the second major destination, Sweden (X tons), more than tenfold. The third position in this ranking was taken by Denmark (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Finland stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (X% per year) and Denmark (X% per year).

In value terms, Finland ($X) remains the key foreign market for iron or steel wire products exports from Estonia, comprising X% of total exports. The second position in the ranking was held by Denmark ($X), with an X% share of total exports. It was followed by Sweden, with an X% share.

From 2012 to 2022, the average annual growth rate of value to Finland amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (X% per year) and Sweden (X% per year).

Export Prices by Country

The average export price for iron or steel wire products stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Finland ($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 Spain (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Wire Products

Imports into Estonia

After two years of growth, overseas purchases of iron or steel wire products decreased by X% to X tons in 2022. In general, imports saw a perceptible decrease. The pace of growth was the most pronounced in 2013 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, iron or steel wire product imports contracted to $X in 2022. Overall, imports continue to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Egypt (X tons) constituted the largest supplier of iron or steel wire product to Estonia, accounting for a X% share of total imports. Moreover, iron or steel wire product imports from Egypt exceeded the figures recorded by the second-largest supplier, Latvia (X tons), twofold. Ukraine (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 Egypt was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Latvia (X% per year) and Ukraine (X% per year).

In value terms, the largest iron or steel wire product suppliers to Estonia were Egypt ($X), Germany ($X) and Ukraine ($X), together accounting for X% of total imports. Latvia, Sweden, China, Russia and Lithuania lagged somewhat behind, together accounting for a further X%.

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

Import Prices by Country

The average import price for iron or steel wire products stood at $X per ton in 2022, surging by X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by X%. The import price peaked in 2022 and is likely to continue growth in years to come.

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

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

Source: IndexBox Platform

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