Cuba: Bedspread Market 2022

Bedspread Market Size in Cuba

In 2021, the Cuban bedspread market decreased by -11% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption recorded a pronounced contraction. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Bedspread Production in Cuba

In value terms, bedspread production declined to $X in 2021 estimated in export price. Overall, production showed a pronounced descent. The most prominent rate of growth was recorded in 2014 with an increase of 30% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Bedspread Exports

Exports from Cuba

In 2021, approx. X units of bedspreads (excluding eiderdowns) were exported from Cuba; approximately reflecting 2020 figures. Over the period under review, exports recorded a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, bedspread exports amounted to $X in 2021. Overall, exports saw a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Benin (X units) was the main destination for bedspread exports from Cuba, accounting for a approx. 100% share of total exports.

From 2019 to 2021, the average annual growth rate of volume to Benin was relatively modest.

From 2019 to 2021, the average annual rate of growth in terms of value to Benin was relatively modest.

Export Prices by Country

In 2021, the average bedspread export price amounted to $X per unit, flattening at the previous year. Over the period under review, the export price posted significant growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Benin.

From 2019 to 2021, the rate of growth in terms of prices for Benin amounted to 0.0% per year.

Bedspread Imports

Imports into Cuba

For the fourth year in a row, Cuba recorded decline in overseas purchases of bedspreads (excluding eiderdowns), which decreased by -5% to X units in 2021. Over the period under review, imports recorded a noticeable curtailment. The pace of growth appeared the most rapid in 2015 with an increase of 39%. Imports peaked at X units in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, bedspread imports contracted to $X in 2021. Overall, imports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2015 with an increase of 53%. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of bedspread to Cuba, with a 84% share of total imports. Moreover, bedspread imports from China exceeded the figures recorded by the second-largest supplier, Benin (X units), more than tenfold. Panama (X units) ranked third in terms of total imports with a 4.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Benin (+134.1% per year) and Panama (+7.7% per year).

In value terms, China ($X) constituted the largest supplier of bedspread to Cuba, comprising 83% of total imports. The second position in the ranking was held by Panama ($X), with an 8% share of total imports. It was followed by Spain, with a 4% share.

From 2012 to 2021, the average annual growth rate of value from China totaled -15.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (-0.5% per year) and Spain (-21.6% per year).

Import Prices by Country

In 2021, the average bedspread import price amounted to $X per unit, waning by -8.5% against the previous year. Overall, the import price showed a drastic downturn. The most prominent rate of growth was recorded in 2015 when the average import price increased by 10%. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Spain ($X per unit), while the price for Angola ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (-7.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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