Finland: Leather Apparel Market 2022

Leather Apparel Market Size in Finland

The Finnish leather apparel market reduced to $X in 2021, shrinking by -13.3% against the previous year. Over the period under review, consumption, however, continues to indicate a deep contraction. The pace of growth appeared the most rapid in 2017 with an increase of 8.2% against the previous year. Leather apparel consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Leather Apparel Production in Finland

In value terms, leather apparel production totaled $X in 2021 estimated in export price. Over the period under review, production saw a mild downturn. The pace of growth appeared the most rapid in 2013 when the production volume increased by 85% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Leather Apparel Exports

Exports from Finland

In 2021, overseas shipments of apparel of leather or of composition leather increased by 68% to X units for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, recorded a pronounced descent. The exports peaked at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, leather apparel exports totaled $X in 2021. Over the period under review, exports, however, showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 38% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Sweden (X units), China (X units) and Germany (X units) were the main destinations of leather apparel exports from Finland, together comprising 58% of total exports. These countries were followed by Russia, Estonia, the Czech Republic, Latvia, Denmark, Poland, the UK, Lithuania, Oman and Iceland, which together accounted for a further 36%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Oman (with a CAGR of +472.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for leather apparel exported from Finland were Sweden ($X), Germany ($X) and Estonia ($X), together accounting for 64% of total exports. Latvia, the Czech Republic, the UK, Denmark, Russia, Poland, China, Lithuania, Iceland and Oman lagged somewhat behind, together comprising a further 25%.

China, with a CAGR of +129.9%, recorded the highest growth rate of 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

In 2021, the average leather apparel export price amounted to $X per unit, declining by -37.1% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 91% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2020 to 2021, the the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per unit), while the average price for exports to Oman ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+11.2%), while the prices for the other major destinations experienced more modest paces of growth.

Leather Apparel Imports

Imports into Finland

In 2021, supplies from abroad of apparel of leather or of composition leather increased by 12% to X units, rising for the second year in a row after two years of decline. Overall, imports, however, saw a abrupt setback. Imports peaked at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, leather apparel imports fell to $X in 2021. In general, imports, however, recorded a deep reduction. The pace of growth was the most pronounced in 2017 with an increase of 11%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Sweden (X units) constituted the largest leather apparel supplier to Finland, accounting for a 42% share of total imports. Moreover, leather apparel imports from Sweden exceeded the figures recorded by the second-largest supplier, Pakistan (X units), twofold. The third position in this ranking was held by Denmark (X units), with a 9.2% share.

From 2012 to 2021, the average annual growth rate of volume from Sweden amounted to +15.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Pakistan (-9.6% per year) and Denmark (+18.1% per year).

In value terms, Sweden ($X) constituted the largest supplier of leather apparel to Finland, comprising 32% of total imports. The second position in the ranking was taken by Germany ($X), with a 14% share of total imports. It was followed by Pakistan, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Sweden stood at +12.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-2.5% per year) and Pakistan (-12.1% per year).

Import Prices by Country

The average leather apparel import price stood at $X per unit in 2021, shrinking by -20.1% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by 35%. As a result, import price attained the peak level of $X per unit. From 2020 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Turkey ($X per unit), while the price for Pakistan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+19.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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