Finland: Watch Market 2024

Watch Market Size in Finland

The Finnish watch market reduced remarkably to $X in 2022, which is down by X% against the previous year. In general, consumption saw a significant curtailment. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Watch Production in Finland

In value terms, watch production contracted dramatically to $X in 2022 estimated in export price. Over the period under review, production recorded a precipitous curtailment. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Watch production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Watch Exports

Exports from Finland

In 2022, the amount of watches exported from Finland fell rapidly to X units, waning by X% on the previous year's figure. Overall, exports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X units, and then shrank notably in the following year.

In value terms, watch exports contracted markedly to $X in 2022. Over the period under review, exports saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then declined remarkably in the following year.

Exports by Country

Estonia (X units) was the main destination for watch exports from Finland, with a X% share of total exports. It was followed by Sweden (X units), with a X% share of total exports. Turkey (X units) ranked third in terms of total exports with a X% share.

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

In value terms, Estonia ($X) emerged as the key foreign market for watches exports from Finland, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with an X% share of total exports. It was followed by Sweden, with a X% share.

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

Export Prices by Country

In 2022, the average watch export price amounted to $X per unit, which is down by X% against the previous year. In general, the export price recorded a drastic downturn. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (X%), while the prices for the other major destinations experienced more modest paces of growth.

Watch Imports

Imports into Finland

Watch imports into Finland shrank to X units in 2022, with a decrease of X% against 2021 figures. In general, imports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Imports peaked at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, watch imports skyrocketed to $X in 2022. Overall, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

The Netherlands (X units), Hong Kong SAR (X units) and Germany (X units) were the main suppliers of watch imports to Finland, with a combined X% share of total imports.

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

In value terms, the largest watch suppliers to Finland were Switzerland ($X), Germany ($X) and the United States ($X), with a combined X% share of total imports. The Netherlands, Hong Kong SAR, Sweden, Denmark and China lagged somewhat behind, together comprising a further X%.

The Netherlands, with a CAGR of X%, recorded 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 watch import price stood at $X per unit in 2022, surging by X% against the previous year. Over the period under review, the import price saw resilient growth. The pace of growth appeared the most rapid in 2019 when the average import price increased by X%. The import price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Switzerland ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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