Finland: Electronic Chip Market 2024

Electronic Chip Market Size in Finland

After four years of decline, the Finnish electronic chip market increased by X% to $X in 2023. Over the period under review, consumption, however, showed a deep downturn. As a result, consumption attained the peak level of $X. From 2019 to 2023, the growth of the market remained at a lower figure.

Electronic Chip Production in Finland

In value terms, electronic chip production soared to $X in 2023 estimated in export price. Overall, production, however, showed a mild shrinkage. The pace of growth appeared the most rapid in 2016 when the production volume increased by X% against the previous year. Electronic chip production peaked at $X in 2017; however, from 2018 to 2023, production remained at a lower figure.

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Electronic Chip Exports

Exports from Finland

In 2023, approx. X units of electronic chips were exported from Finland; which is down by X% on the previous year's figure. Overall, exports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2022 when exports increased by X%. As a result, the exports reached the peak of X units, and then fell notably in the following year.

In value terms, electronic chip exports declined rapidly to $X in 2023. Over the period under review, exports, however, enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2022 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then contracted dramatically in the following year.

Exports by Country

India (X units), China (X units) and Vietnam (X units) were the main destinations of electronic chip exports from Finland, together accounting for X% of total exports.

From 2012 to 2023, the biggest increases were recorded for Vietnam (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X) emerged as the key foreign market for electronic chips exports from Finland, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to India totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and China (X% per year).

Export Prices by Country

In 2023, the average electronic chip export price amounted to $X per unit, which is down by X% against the previous year. In general, the export price, however, continues to indicate a remarkable increase. The growth pace was the most rapid in 2021 when the average export price increased by X%. As a result, the export price reached the peak level of $X per unit. From 2022 to 2023, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to Belgium ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to India (X%), while the prices for the other major destinations experienced a decline.

Electronic Chip Imports

Imports into Finland

In 2023, purchases abroad of electronic chips decreased by X% to X units for the first time since 2017, thus ending a five-year rising trend. Over the period under review, imports, however, saw strong growth. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X units in 2022, and then fell in the following year.

In value terms, electronic chip imports expanded notably to $X in 2023. Overall, imports, however, enjoyed a resilient increase. The pace of growth appeared the most rapid in 2021 with an increase of X%. Imports peaked in 2023 and are likely to continue growth in years to come.

Imports by Country

The Netherlands (X units), Germany (X units) and Singapore (X units) were the main suppliers of electronic chip imports to Finland, together comprising X% of total imports. China, Ireland, Taiwan (Chinese), Malaysia, Belgium, Estonia and the United States lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constituted the largest supplier of electronic chips to Finland, comprising X% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total imports. It was followed by Malaysia, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from Singapore totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Malaysia (X% per year).

Import Prices by Country

The average electronic chip import price stood at $X per unit in 2023, with an increase of X% against the previous year. In general, the import price, however, continues to indicate a perceptible slump. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per unit in 2018; however, from 2019 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Singapore ($X per unit), while the price for Estonia ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform