Builders’ joinery and carpentry of wood market in Finland

Earlier Report Observations

The market for builders' joinery and carpentry of wood in Finland saw fluctuating volumes from 2018 to 2024. Starting at 755 million USD in 2018, it dipped slightly to 724 million USD in 2019 before entering a growth phase. The Wood Construction Program launched in 2018, providing 8 million euros in grants for experimental development and research, likely fostering innovation and demand in the sector. Major industry players like Metsä Board, UPM-Kymmene, and Stora Enso maintained significant influence. Market size then rose to 783 million USD in 2020 and surged to 907 million USD in 2021.

Growth continued into 2022, with the market reaching 955 million USD. However, that year also saw challenges: the wood products industry reported a 6% drop in production and a 32% fall in export value, signaling sector-wide headwinds. A collective labor agreement for the joinery industry was in effect from March 2022 to March 2024, shaping labor conditions. In 2023, market size fell sharply to 815 million USD amid ongoing collective agreement negotiations and the expiration of the previous pact. By 2024, the market declined further to 784 million USD as brisk timber trade drove up wood purchase volumes by 18% and significantly increased prices, raising input costs. New company-specific collective agreements were concluded in several firms, and the Wood Construction Program's development projects continued to influence the industry.

Production builders’ joinery and carpentry of wood in Finland

In value, 2017-2020, M $ US

After two consecutive years of decline, Finland's production of builders' joinery and carpentry of wood has rebounded. In 2020, output reached 913 million US dollars, marking a moderate 7.3% increase from 2019. Over the period from 2017 to 2020, production decreased by 9.4%, which translates to an average annual decline of 3.2%. The lowest value was recorded in 2019 at 851 million US dollars, while the largest drop occurred in 2018 with a 10.5% decrease.

Annual dynamics of production in Finland in value, 2017-2020, M $ US

Exports builders’ joinery and carpentry of wood from Finland

Exports in kind, K t

The market exhibited volatility during the observed period. Exports peaked in 2017 and hit their lowest point in 2019, with a 1.9-fold difference between these years. In 2020, Finland exported 214.0 thousand tons of builders' joinery and carpentry of wood, representing an 82.8% increase compared to the previous year. The minimum volume was recorded in 2019 at 117.0 thousand tons, which also saw the largest decline of 39.3%.

Annual dynamics of product's exports from Finland in kind, 2017-2020, K t

From 2017 to 2020, Japan was the primary destination for exports in kind, accounting for 76.9% of total flows. Other markets contributed smaller shares, forming a long tail of minor partners.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Finland in kind, 2017-2020

Exports in value, M $ US

Following a two-year decline, Finland's exports of builders' joinery and carpentry of wood have increased. In 2020, exports amounted to 227.4 million US dollars, showing a slight 2.8% rise compared to the previous year. Between 2017 and 2020, exports decreased by 18.5%, equivalent to an average annual decline of 6.6%. The lowest value was recorded in 2019 at 221.2 million US dollars, while the largest drop occurred in 2018 with a 12.6% decrease.

Annual dynamics of product's exports from Finland in value, 2017-2020, M $ US

From 2017 to 2020, Japan, Sweden, and Norway stood out as the main markets for exports in value terms. Japan accounted for 61.2% of exports, Sweden for 11.8%, and Norway for 5.0%. Together, these three countries represented 78.0% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Finland in value, 2017-2020

Imports builders’ joinery and carpentry of wood to Finland

Imports in kind, K t

The import market showed significant volatility over the observed period. Imports peaked in 2017 and reached their lowest point in 2019, with a 3.9-fold gap between these years. In 2020, Finland imported 48.6 thousand tons of builders' joinery and carpentry of wood, marking a sharp 283.4% increase compared to 2019. The minimum volume was recorded in 2019 at 12.7 thousand tons, which also experienced the largest decline of 73.8%.

Annual dynamics of product's imports to Finland in kind, 2017-2020, K t

From 2017 to 2020, Estonia, Sweden, and Latvia were the top suppliers of builders' joinery and carpentry of wood to Finland in kind. Estonia accounted for 60.9% of imports, Sweden for 13.3%, and Latvia for 4.7%. Their combined share reached 78.9% of total imports in kind.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Finland in kind, 2017-2020

Imports in value, M $ US

In 2020, Finland's imports of builders' joinery and carpentry of wood totaled 97.5 million US dollars, representing a 2.7% increase from the previous year. Over the period from 2017 to 2020, imports grew by 8.9%, with a compound annual growth rate of 2.9%. The largest decline was recorded in 2019 at 1.6%, while the largest increase occurred in 2018 with a 7.7% rise.

Annual dynamics of product's imports to Finland in value, 2017-2020, M $ US

From 2017 to 2020, Estonia, Sweden, and Latvia formed the main cluster of markets for imports in value terms. Estonia accounted for 50.5% of imports, Sweden for 21.6%, and Latvia for 6.4%. Together, these three countries represented 78.5% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Finland in value, 2017-2020