Industry revenue of »retail sale of hardware, paints and glass« in Finland 2011-2023

Industry revenues of the Finnish hardware, paints and glass industry are projected to fall from 3.6 billion U.S. dollars in 2011 to 2.1 billion U.S. dollars by 2023. Lack of industrial innovation, high raw material prices and high labour costs have resulted in majority of the manufacturing processes being shifted to low cost bases. As a result, indigenous enterprises manufacturing products such as glass have been steadily declining. In fact, according to latest projections, manufacturing of flat glass in the country is expected to be defunct in the short to medium term. In 2018, the country imported glass mirrors worth 41 million U.S. dollars, compared to just 950 thousand U.S. dollars’ worth of exports, as per data from trend

Additionally, the country’s paints and coating market has also witnessed a decline in revenues, despite the growth in household construction activities, owing to the growing import penetration.

Industry revenue of »retail sale of hardware, paints and glass« in Finland from 2011 to 2023

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Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Finland. The industry “retail sale of hardware, paints and glass in specialised stores“ has the code “G4752“.

Details on the methodology can be found here.

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Statistics on "Economic Outlook Finland"

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