Knitted gloves and mittens market in Finland

Earlier Report Observations

The market for knitted gloves and mittens in Finland experienced significant fluctuations between 2018 and 2024. After a period of growth that saw the market size increase from 32.8 million US dollars in 2018 to a peak of 41.2 million dollars in 2022, a sharp contraction followed, bringing the market down to 30.4 million dollars by 2024.

The decline in the later years coincided with a reduction in marketing and communication resources within companies, which likely impacted sales channels and market visibility. Concurrently, industry-wide trends such as digitalization and a growing emphasis on sustainability began to influence production methods and consumer expectations in the craft and textile sector.

Production knitted gloves and mittens in Finland

In value, 2017-2020, K $ US

Finland's production of knitted gloves and mittens has increased for the third consecutive year. In 2020, the output was valued at 3 355 thousand US dollars, which is 4.5% higher than in 2019. Between 2017 and 2020, production grew by 38.4%, representing an annualized growth rate of 11.4%.

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

In kind, 2017-2020, K 2u

In 2020, Finland produced 354.9 thousand units of knitted gloves and mittens, which is 8.0% lower than the previous year. Over the period from 2017 to 2020, production decreased by 2.9%, with a compound annual growth rate of -1.0%. The lowest production volume was recorded in 2018 at 306.9 thousand units, while the highest was in 2019 at 385.6 thousand units. The largest decline occurred in 2018, with a drop of 16.0%, and the largest increase was in 2019, with a rise of 25.7%.

Annual dynamics of production in Finland in kind, 2017-2020, K 2u

Exports knitted gloves and mittens from Finland

Exports in kind, K 2u

The market exhibited significant volatility during these years. Exports reached their peak in 2017 and fell to their lowest point in 2019, with a 57-fold difference between these years. In 2020, the volume of knitted gloves and mittens exported from Finland stood at 758 thousand units, marking a sharp increase of 439.2% compared to 2019. The minimum value was recorded in 2019 at 141 thousand units, and the largest decline occurred in 2018, with a drop of 92.2%.

Annual dynamics of product's exports from Finland in kind, 2017-2020, K 2u

From 2017 to 2020, Estonia, Hungary, and Russia were the main markets for exports in kind, accounting for 44.1%, 11.5%, and 10.1% of exports, respectively. Together, these three countries represented 65.7% of total export flows.

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

Finland's exports of knitted gloves and mittens in value terms declined for the third consecutive year. In 2020, exports amounted to 2 408 thousand US dollars, reflecting a gradual year-on-year decrease of 8.1%. Between 2017 and 2020, exports fell by 28.7%, equating to an annualized decline of 10.7%.

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

From 2017 to 2020, Russia, Estonia, and Sweden were the primary buyers of knitted gloves and mittens from Finland in value terms, accounting for 45.7%, 26.1%, and 6.8% of exports, respectively. Together, these three markets represented 78.6% of total export value.

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

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

Imports knitted gloves and mittens to Finland

Imports in kind, K 2u

The market showed signs of volatility over the observed period. Imports peaked in 2020 and reached their lowest point in 2019, with a 1 094-fold difference between these years. In 2020, Finland imported 30 441 thousand units of knitted gloves and mittens, equivalent to an increase of 109,304.3% compared to the prior year. The minimum value was recorded in 2019 at 28 thousand units, and the largest decline occurred in 2019, with a drop of 99.8%.

Annual dynamics of product's imports to Finland in kind, 2017-2020, K 2u

Throughout 2017 to 2020, China, Sri Lanka, and Pakistan formed the core group of markets for imports in kind, accounting for 50.6%, 16.3%, and 14.9% of imports, respectively. Together, these three countries represented 81.8% of total import 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

In 2020, Finland's imports of knitted gloves and mittens in value terms amounted to 33 135 thousand US dollars, which is 6.0% higher than the previous year. Over the period from 2017 to 2020, imports increased by 9.2%, with a compound annual growth rate of 3.0%. The largest decline was recorded in 2019, with a decrease of 4.4%, while the largest increase occurred in 2018, with a rise of 7.8%.

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

From 2017 to 2020, China, Sri Lanka, and South Korea led the structure of imports in value terms, accounting for 50.0%, 16.1%, and 10.4% of imports, respectively. Together, these three markets represented 76.6% 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