Prepared explosives market in Finland

Earlier Report Observations

The market for prepared explosives in Finland experienced a sharp contraction from 2018 to 2020, with total volume falling from over 66 thousand tons to approximately 36 thousand tons. This period saw a significant reduction in both domestic production and import volumes.

From 2021 onward, the war in Ukraine altered the security environment, leading Finland to maintain and expand its explosives production capacity. This geopolitical shift drove a recovery in output, contributing to market growth that peaked at nearly 49 thousand tons in 2022 despite a concurrent decline in imports.

After a dip in market volume to 28 thousand tons in 2023, a resurgence occurred in 2024, with volume recovering to over 47 thousand tons. This rebound aligns with Finland's continued upkeep of its heavy ammunition production capability, an exception in Western Europe, which supported domestic manufacturing.

Production prepared explosives in Finland

In value, 2017-2020, K $ US

Finland's prepared explosives production declined after two years of growth. In 2019, output reached its peak at 55,340 thousand US dollars, but then dropped sharply to 27,914 thousand US dollars in 2020, marking a significant 49.6% decrease from the previous year. Over the period from 2017 to 2020, production fell by 43.7%, which translates to an annualized decline of 17.4%. The largest year-over-year increase occurred in 2018, with an 11.2% rise.

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

In kind, 2017-2020, t

Finland's prepared explosives production decreased for the second year in a row. In 2018, output peaked at 45,241 tonnes, but then fell to 17,377 tonnes in 2020, representing a substantial 55.3% drop compared to the previous year. From 2017 to 2020, production declined by 55.3%, equivalent to an annualized rate of 23.5%. The largest increase was recorded in 2018, at 16.5%.

Annual dynamics of production in Finland in kind, 2017-2020, t

Exports prepared explosives from Finland

Exports in kind, t

The data shows irregular fluctuations, pointing to a volatile market environment. In 2019, exports hit their lowest point at just 2 tonnes, but then surged dramatically to 4,255 tonnes in 2020, marking an extraordinary increase of 264,431.8% year-over-year. The gap between these years was 2,645-fold. The largest decline occurred in 2019, with a 100.0% drop.

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

From 2017 to 2020, Sweden and Norway were consistently the main buyers of prepared explosives from Finland, together accounting for 98.5% of total exports by volume.

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 two years of decline, Finland's prepared explosives exports rebounded. In 2019, exports reached their minimum at 8,736 thousand US dollars, but then rose to 11,841 thousand US dollars in 2020, showing a 35.5% increase from the previous year. Over the 2017-2020 period, exports grew by 31.5%, with a compound annual growth rate of 9.5%. The largest decline was recorded in 2018, at 2.3%.

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

Throughout 2017 to 2020, Sweden, Norway, and Oman formed the key group of partners for Finland's prepared explosives exports by value. Sweden accounted for 51.9% of exports, Norway for 24.2%, and Oman for 8.5%, together representing 84.6% 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 prepared explosives to Finland

Imports in kind, t

Market behavior during these years was characterized by volatility. In 2019, imports reached their lowest point at 772 tonnes, but then jumped to 22,896 tonnes in 2020, indicating a sharp increase of 2,866.0% compared to the previous year. The peak was in 2018 at 24,760 tonnes, creating a 32-fold gap with 2019. The largest decline occurred in 2019, with a 96.9% drop.

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

From 2017 to 2020, Russia dominated Finland's prepared explosives imports by volume, concentrating 86.5% of total imports, while the remaining flows were distributed among multiple smaller partners.

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 prepared explosives imports declined for the second consecutive year. In 2018, imports peaked at 17,426 thousand US dollars, but then fell to 14,529 thousand US dollars in 2020, reflecting a moderate 5.0% decrease from 2019. Over the 2017-2020 period, imports decreased by 9%, with a compound annual decline rate of 3.1%. The largest decline was in 2019 at 12.3%, while the largest increase occurred in 2018, at 9.2%.

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

Throughout 2017 to 2020, Russia, Sweden, and Germany remained the primary sources for Finland's prepared explosives imports by value. Russia accounted for 63.0% of imports, Sweden for 11.0%, and Germany for 8.4%, together making up 82.4% 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