Between 2013 and 2023, the imports of kerosene-type jet fuel to Finland have seen significant fluctuations. The value stood at 249 thousand metric tons in 2023. The earliest recorded data shows a major decrease in 2013, followed by a sharp rise through 2014 to 2015. Post-2015, there was a drop in 2017 and relatively stable but modest growth until 2019. The year 2020 saw a notable dip, likely due to the pandemic's impact on air travel, followed by a steady recovery pattern from 2021 onwards.
In the last two years (2021-2023), the year-on-year variation indicates moderate growth, with an 11.59% increase in 2022 and a 7.79% increase in 2023. The Compound Annual Growth Rate (CAGR) over the previous five years (2019-2023) is calculated at 8.84%, showing a consistent upward trend.
Future trends to watch for:
- Continued recovery from the pandemic aftermath, stabilizing import volumes.
- Potential impacts of sustainability initiatives and alternative fuels on jet fuel imports.
- Economic factors and changes in aviation demand affecting future import needs.
- Forecasted growth rate through 2028 approximates 9.02%, with a modest compound annual growth rate of 1.74% over the next five years.