The import of parts of hydraulic turbines and water wheels to Finland has seen significant fluctuations over the years. In 2013, imports stood at 1.955 million USD, reaching a peak in 2016, followed by a series of declines. By 2023, the value declined to 1.2592 million USD. This period saw varying year-on-year changes, with some years experiencing double-digit increases or decreases, culminating in a five-year compound annual growth rate (CAGR) of -2.67% as of 2023.
The forecast from 2024 onward shows a continuous downward trend, with imports expected to drop to 0.85364 million USD by 2028, reflecting a five-year CAGR of -6.17% and a forecasted five-year decline of 27.28%.
Future trends to watch for:
- Technological advancements in renewable energy potentially reducing the need for imports.
- Changes in global supply chains impacting import dynamics.
- Policy changes in Finland and the EU affecting imports and industrial requirements.
