Country Report - Finland

Country Report - Finland
Product Code: GEPMCR2
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Output in the Finnish electronics industry, after increasing by a modest 1.8% in 2019, declined by an estimated 5.3% in 2020 but is forecast to recover in 2021 as the impact of the pandemic fades over the course of the second half of the year. The decision, primarily by Nokia and the former electronics manufacturing service provider Elcoteq, to transfer the production of both mobile phones and communications equipment to low-cost locations resulted in output for the communications segment to fall by 91% between 2005 and 2020 from Euro 7,111 million to Euro 603 million. Production however is expected to stabilise in 2021 and post growth of 3.2% and in the longer term to benefit from the emergence of new products related to the Internet of Things and 5G. Production of control and instrumentation after increasing by 7.2% in 2019 declined by 4.0% in 2020 as COVID-19 reduced demand in the country’s main trading partners. As with other European countries the decline in output was lower than initially expected due to a stronger recovery in the third quarter. Growth is forecast to increase by 4.0% in 2021 and then accelerate further in 2022/2023. Medical, which accounted for 18.0% of electronics output in 2020, declined by 9.9% during the year as a result of lower exports but is forecast to post growth of 3.8% in 2021. Finland is home to a number of small the medium-sized medical companies and has a strong start-up culture which should support growth over the period to 2024.

Table of Contents

Economic Overview
Industry Structure
Production Data 2018-2021
Market Data 2018-2024
Methodologies/Guide to Statistics

Product Coverage

Office Equipment
Control & Instrumentation
Medical & Industrial
Radio Communications
Passive Components
Other Components

The Finnish Electronics Industry Report provides essential market intelligence for all sizes of company from small enterprises to major global groups and for financial/management consultancies, government agencies and academia requiring a reliable overview of the electronics industry in Finland.

Last Update: May 2021


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