Iron or steel chain market in Finland

Earlier Report Observations

The market size for iron or steel chain in Finland experienced notable fluctuations between 2018 and 2022. After starting at 47 958 thousand US dollars in 2018, it contracted to 38 094 thousand in 2019 and further to 35 663 thousand in 2020. A recovery followed in 2021, bringing the market to 41 257 thousand, and then a significant expansion to 52 837 thousand in 2022.

From 2023, available trade data shows a shift in import and export volumes. Imports fell from 41 271 thousand US dollars in 2022 to 35 538 thousand in 2023 and then to 31 812 thousand in 2024. Exports remained relatively stable in 2023 at 36 222 thousand but dropped to 28 655 thousand in 2024. The introduction of the EU Carbon Border Adjustment Mechanism (CBAM) in 2024, requiring emission reporting for imported steel goods, likely contributed to the reduction in import volumes. Additionally, regulatory changes in rail freight transport highlighted in a 2023 competition authority report aimed at improving market efficiency may have influenced supply chain dynamics for metal products.

Production iron or steel chain in Finland

In value, 2017-2020, K $ US

Finland's iron or steel chain production volume declined for the second consecutive year. In 2020, output was valued at 41 293 thousand US dollars, marking a modest 5.7% year-over-year decrease. Production increased by 7.4% between 2017 and 2020, translating to an annualized growth rate of 2.4%. The peak value was recorded in 2018 at 45 893 thousand US dollars, which also saw the largest increase of 19.4%.

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

Exports iron or steel chain from Finland

Exports in kind, t

The market exhibited an unstable trend throughout the period. Import levels fluctuated significantly, with a 6.5-fold difference between the high in 2017 and the low in 2019. In 2020, Finland exported 4 759 tonnes of iron or steel chain, representing a substantial 461.6% increase compared to the previous year. The minimum value was recorded in 2019 at 847 tonnes, which also saw the largest decline of 84.0%.

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

From 2017 to 2020, Finland's iron or steel chain exports had a broad portfolio of buyers. Sweden accounted for 28.8% of exports in kind, Russia for 10.5%, and the United States for 7.9%, together contributing 47.2% of total exports. Many other countries held smaller but notable shares.

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, K $ US

After a two-year increase, Finland's iron or steel chain exports declined. In 2020, exports amounted to 26 737 thousand US dollars, reflecting a 12.6% drop compared to 2019. Over the period from 2017 to 2020, exports decreased by 2.5%, with a compound annual growth rate of 0.8%. The maximum value was recorded in 2019 at 30 599 thousand US dollars, which also saw the largest increase of 8.1%.

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

From 2017 to 2020, the partner structure for exports in value terms was balanced rather than concentrated. Sweden represented 24.9% of exports in value, Russia 10.9%, and Austria 7.8%, jointly accounting for 43.6% of total flows. Many other countries made up the remaining 56.4%.

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

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

Imports iron or steel chain to Finland

Imports in kind, t

The market showed signs of volatility over the observed period. Volumes peaked in 2018 and dropped to a minimum in 2019, with a 7.5-fold shift between these years. In 2020, Finland's iron or steel chain imports amounted to 4 047 tonnes, indicating a sharp 372.7% year-over-year increase. The minimum value was recorded in 2019 at 856 tonnes, while the maximum was in 2018 at 6 445 tonnes. The largest decline occurred in 2019 at 86.7%.

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

Throughout 2017 to 2020, China, the United Kingdom, and Germany formed the core group of markets for imports in kind. China accounted for 55.2% of imports, the United Kingdom for 12.5%, and Germany for 9.3%, together representing 77.0% of total flows.

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, K $ US

Finland's iron or steel chain import volume declined for the second consecutive year. In 2020, imports reached 21 106 thousand US dollars, showing a strong 15.2% decrease from the previous year. Between 2017 and 2020, imports fell by 20.7%, equating to an annualized decline of 7.4%. The maximum value was recorded in 2018 at 30 371 thousand US dollars. The largest decline occurred in 2019 at 18.1%, while the largest increase was in 2018 at 14.2%.

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

From 2017 to 2020, China, Germany, and the United Kingdom consistently held leading positions in the country structure of imports in value terms. China accounted for 28.1% of imports in value, Germany for 24.8%, and the United Kingdom for 9.6%, jointly making up 62.5% of total flows.

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

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