Finland: Microwave Oven Market Overview 2021

Microwave Oven Market Size in Finland

In 2020, after four years of growth, there was significant decline in the Finnish microwave oven market, when its value decreased by -X% to $X. Over the period under review, consumption saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. As a result, consumption reached the peak level of $X, and then dropped significantly in the following year.

Microwave Oven Exports

Exports from Finland

In 2020, approx. X units of microwave ovens were exported from Finland; growing by X% compared with the previous year's figure. In general, exports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2012 when exports increased by X% against the previous year. Over the period under review, exports reached the maximum at X units in 2010; however, from 2011 to 2020, exports failed to regain the momentum.

In value terms, microwave oven exports skyrocketed to $X in 2020. Overall, exports, however, saw a noticeable downturn. The pace of growth appeared the most rapid in 2012 when exports increased by X% year-to-year. Over the period under review, exports reached the peak figure at $X in 2009; however, from 2010 to 2020, exports stood at a somewhat lower figure.

Exports by Country

Estonia (X units), Denmark (X units) and Sweden (X units) were the main destinations of microwave oven exports from Finland, together accounting for X% of total exports. The U.S., Gambia, Russia and Tanzania lagged somewhat behind, together accounting for a further X 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Gambia (+X% per year), while exports for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X) remains the key foreign market for microwave oven exports from Finland, comprising X% of total exports. The second position in the ranking was occupied by Denmark ($X), with a X% share of total exports. It was followed by Estonia, with a X% share.

From 2007 to 2020, the average annual growth rate of value to Sweden amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+X% per year) and Estonia (+X% per year).

Export Prices by Country

The average microwave oven export price stood at $X per unit in 2020, rising by X% against the previous year. Overall, the export price continues to indicate measured growth. The most prominent rate of growth was recorded in 2017 when the average export price increased by X% year-to-year. Over the period under review, average export prices reached the peak figure in 2020 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2020, the country with the highest price was Sweden ($X per unit), while the average price for exports to Tanzania ($X per unit) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the U.S., while the prices for the other major destinations experienced more modest paces of growth.

Microwave Oven Imports

Imports into Finland

In 2020, the amount of microwave ovens imported into Finland reduced notably to X units, with a decrease of -X% against 2019. Overall, imports recorded a noticeable setback. The most prominent rate of growth was recorded in 2019 with an increase of X% year-to-year. Imports peaked at X units in 2007; however, from 2008 to 2020, imports failed to regain the momentum.

In value terms, microwave oven imports reduced remarkably to $X in 2020. The total import value increased at an average annual rate of +X% from 2007 to 2020; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2019 with an increase of X% y-o-y. As a result, imports reached the peak of $X, and then contracted rapidly in the following year.

Imports by Country

In 2020, China (X units) constituted the largest supplier of microwave oven to Finland, with a X% share of total imports. Moreover, microwave oven imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X units), threefold. The third position in this ranking was occupied by the UK (X units), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume from China stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+X% per year) and the UK (+X% per year).

In value terms, China ($X) constituted the largest supplier of microwave oven to Finland, comprising X% of total imports. The second position in the ranking was occupied by the UK ($X), with a X% share of total imports. It was followed by Malaysia, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value from China stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-X% per year) and Malaysia (+X% per year).

Import Prices by Country

The average microwave oven import price stood at $X per unit in 2020, growing by X% against the previous year. In general, import price indicated noticeable growth from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, microwave oven import price increased by +X% against 2015 indices. The pace of growth appeared the most rapid in 2018 an increase of X% y-o-y. Over the period under review, average import prices reached the peak figure in 2020 and is likely to see steady growth in the immediate term.

Prices varied noticeably by the country of origin; the country with the highest price was the UK ($X per unit), while the price for Singapore ($X per unit) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform