Scandinavia: Video Game Console Market 2024

Video Game Console Exports

Exports in Scandinavia

In 2022, after two years of growth, there was significant decline in shipments abroad of video game consoles, when their volume decreased by -19.2% to X units. Total exports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +74.2% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 52%. As a result, the exports attained the peak of X units, and then declined markedly in the following year.

In value terms, video game console exports shrank significantly to $X in 2022. In general, exports, however, continue to indicate a pronounced increase. The most prominent rate of growth was recorded in 2017 with an increase of 65%. Over the period under review, the exports attained the maximum at $X in 2021, and then contracted significantly in the following year.

Exports by Country

Sweden prevails in exports structure, reaching X units, which was approx. 92% of total exports in 2022. It was distantly followed by Finland (X units), achieving a 6.1% share of total exports. Norway (X units) followed a long way behind the leaders.

Sweden was also the fastest-growing in terms of the video game consoles exports, with a CAGR of +4.3% from 2012 to 2022. Norway (-2.5%) and Finland (-10.4%) illustrated a downward trend over the same period. While the share of Sweden (+18 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Finland (-16.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) remains the largest video game console supplier in Scandinavia, comprising 93% of total exports. The second position in the ranking was held by Finland ($X), with a 5.3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Sweden amounted to +5.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Finland (-7.1% per year) and Norway (-0.4% per year).

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per unit, rising by 4.7% against the previous year. Export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, video game console export price decreased by -20.7% against 2020 indices. The growth pace was the most rapid in 2017 when the export price increased by 39%. The level of export peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per unit), while Norway ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+3.8%), while the other leaders experienced more modest paces of growth.

Video Game Console Imports

Imports in Scandinavia

In 2022, supplies from abroad of video game consoles decreased by -28.1% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 63%. Over the period under review, imports attained the peak figure at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, video game console imports dropped rapidly to $X in 2022. Total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 83%. Over the period under review, imports hit record highs at $X in 2021, and then dropped significantly in the following year.

Imports by Country

Sweden was the main importer of video game consoles in Scandinavia, with the volume of imports amounting to X units, which was near 70% of total imports in 2022. It was distantly followed by Norway (X units) and Finland (X units), together achieving a 30% share of total imports.

Sweden was also the fastest-growing in terms of the video game consoles imports, with a CAGR of +2.5% from 2012 to 2022. Norway experienced a relatively flat trend pattern. Finland (-9.8%) illustrated a downward trend over the same period. While the share of Sweden (+19 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Finland (-19.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) constitutes the largest market for imported video game consoles in Scandinavia, comprising 69% of total imports. The second position in the ranking was taken by Norway ($X), with a 19% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Sweden amounted to +4.2%. In the other countries, the average annual rates were as follows: Norway (+2.9% per year) and Finland (-4.8% per year).

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per unit, picking up by 7% against the previous year. Import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, video game console import price decreased by -16.9% against 2020 indices. The pace of growth was the most pronounced in 2017 an increase of 52%. Over the period under review, import prices attained the maximum at $X per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per unit), while Sweden ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+5.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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