In 2023, Finland's import of iron and steel stood at a certain baseline value. According to forecasted data from 2024 to 2028, there is a noticeable declining trend in the import values. Specifically, the value drops from $671.63 million in 2024 to $318.39 million in 2028, indicating a year-on-year decrease. Key variations include a significant decrease from 2024 to 2025, followed by continuous declines each subsequent year.
Year-on-year analysis shows a reduction of approximately 13.5% from 2024 to 2025, 15.3% from 2025 to 2026, 17.7% from 2026 to 2027, and 21.2% from 2027 to 2028. The Compound Annual Growth Rate (CAGR) for this period reflects an average annual decrease, highlighting ongoing contraction in iron and steel imports.
Future trends to monitor include shifts in global steel prices, changes in Finland’s domestic steel production capabilities, and broader economic policies impacting international trade. Additionally, the development of green technologies and sustainable practices in the production of iron and steel could significantly influence future import volumes and values.