Price for Electric Motors; of an Output Not Exceeding 37.5W in Finland - 2023
Contents:
- Price for Electric Motors; of an Output Not Exceeding 37.5W in Finland (CIF) - 2022
- Price for Electric Motors; of an Output Not Exceeding 37.5W in Finland (FOB) - 2022
- Imports of Electric Motors; of an Output Not Exceeding 37.5W in Finland
- Exports of Electric Motors; of an Output Not Exceeding 37.5W in Finland
Price for Electric Motors; of an Output Not Exceeding 37.5W in Finland (CIF) - 2022
In 2022, the average import price for electric motors amounted to $30 per unit, remaining relatively unchanged against the previous year. In general, the import price recorded a perceptible slump. The pace of growth appeared the most rapid in 2013 when the average import price increased by 18%. The import price peaked at $55 per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.
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 the Netherlands ($100 per unit), while the price for Hong Kong SAR ($3.3 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+12.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Electric Motors; of an Output Not Exceeding 37.5W in Finland (FOB) - 2022
In 2022, the average export price for electric motors amounted to $48 per unit, reducing by -8.4% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 47%. As a result, the export price reached the peak level of $99 per unit. From 2019 to 2022, the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($145 per unit), while the average price for exports to Lithuania ($15 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 France (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Electric Motors; of an Output Not Exceeding 37.5W in Finland
In 2022, the amount of electric motors imported into Finland fell to 1.3M units, with a decrease of -5.1% compared with the year before. The total import volume increased at an average annual rate of +3.3% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 31% against the previous year. As a result, imports attained the peak of 1.4M units, and then fell in the following year.
In value terms, imports of electric motors declined to $39M in 2022. The total import value increased at an average annual rate of +2.3% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 31%. As a result, imports attained the peak of $41M, and then fell in the following year.
| Import of Electric Motors; of an Output Not Exceeding 37.5W in Finland (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 6.1 | 14.3 | 16.1 | 15.4 | 36.2% |
| China | 6.9 | 5.9 | 9.7 | 8.4 | 6.8% |
| Netherlands | 0.2 | 0.4 | 0.7 | 2.7 | 138.1% |
| Sweden | 1.3 | 2.9 | 2.4 | 1.6 | 7.2% |
| Switzerland | 12.4 | 1.3 | 1.3 | 1.2 | -54.1% |
| India | 1.2 | 0.9 | 1.9 | 0.8 | -12.6% |
| Vietnam | 0.7 | 0.4 | 0.5 | 0.8 | 4.6% |
| Estonia | 1.0 | 0.8 | 1.0 | 0.7 | -11.2% |
| Thailand | 0.3 | 0.3 | 0.5 | 0.4 | 10.1% |
| Japan | 0.7 | 0.2 | 0.4 | 0.3 | -24.6% |
| Hong Kong SAR | N/A | N/A | N/A | 0.2 | 0% |
| Others | 5.3 | 4.0 | 6.9 | 6.0 | 4.2% |
| Total | 36.0 | 31.5 | 41.2 | 38.6 | 2.4% |
Top Suppliers of Electric Motors; of an Output Not Exceeding 37.5W to Finland in 2022:
- China (490.9K units)
- Germany (330.0K units)
- Vietnam (162.8K units)
- Hong Kong SAR (46.7K units)
- India (27.5K units)
- Netherlands (26.7K units)
- Japan (24.3K units)
- Estonia (24.1K units)
- Thailand (23.9K units)
- Sweden (19.6K units)
- Switzerland (17.2K units)
Exports of Electric Motors; of an Output Not Exceeding 37.5W in Finland
In 2022, exports of electric motors from Finland rose rapidly to 116K units, surging by 15% on the year before. Over the period under review, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 71% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.
In value terms, exports of electric motors rose rapidly to $5.5M in 2022. The total export value increased at an average annual rate of +10.9% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 23%. Over the period under review, the exports of attained the peak figure in 2022 and are likely to continue growth in years to come.
| Export of Electric Motors; of an Output Not Exceeding 37.5W in Finland (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Poland | 294 | 358 | 502 | 777 | 38.3% |
| Estonia | 674 | 476 | 649 | 683 | 0.4% |
| Russia | 533 | 1,171 | 633 | 417 | -7.9% |
| China | 413 | 277 | 422 | 333 | -6.9% |
| Lithuania | 123 | 193 | 360 | 330 | 39.0% |
| France | 97.1 | 73.9 | 73.3 | 261 | 39.0% |
| Sweden | 197 | 205 | 279 | 252 | 8.6% |
| Singapore | 173 | 227 | 379 | 151 | -4.4% |
| Others | 1,556 | 1,307 | 1,966 | 2,342 | 14.6% |
| Total | 4,061 | 4,288 | 5,263 | 5,546 | 10.9% |
Top Export Markets for Electric Motors; of an Output Not Exceeding 37.5W from Finland in 2022:
- Lithuania (21.3K units)
- Estonia (20.3K units)
- China (19.8K units)
- Poland (16.8K units)
- Russia (10.2K units)
- Singapore (7.6K units)
- France (3.0K units)
- Sweden (2.4K units)
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