Iceland: Hat Market 2020

Hat Market Size in Iceland

The revenue of the hat market in Iceland amounted to $X in 2018, declining by -X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, hat consumption continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of X% year-to-year. Over the period under review, the hat market attained its maximum level at $X in 2017, and then declined slightly in the following year.

Hat Exports

Exports from Iceland

In 2018, the hat exports from Iceland totaled X units, dropping by -X% against the previous year. Overall, hat exports continue to indicate a measured slump. The most prominent rate of growth was recorded in 2016 with an increase of X% y-o-y. In that year, hat exports attained their peak of X units. From 2017 to 2018, the growth of hat exports remained at a lower figure.

In value terms, hat exports amounted to $X in 2018. Overall, hat exports continue to indicate a mild increase. The pace of growth was the most pronounced in 2016 with an increase of X% year-to-year. Over the period under review, hat exports attained their peak figure in 2018 and are likely to see steady growth in the immediate term.

Exports by Country

China dominates hat exports structure, reaching X units, which was near X% of total exports in 2018. Vietnam (X units), Bangladesh (X units), the Netherlands (X units) and Germany (X units) held a minor share of total exports.

China was also the fastest-growing in terms of the hats and other headgear exports, with a CAGR of +X% from 2007 to 2018. At the same time, the Netherlands (+X%), Vietnam (+X%), Germany (+X%) and Bangladesh (+X%) displayed positive paces of growth. China (+X p.p.), Vietnam (+X p.p.) and the Netherlands (+X p.p.) significantly strengthened its position in terms of the global exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest hat supplier from Iceland, comprising X% of global exports. The second position in the ranking was occupied by Vietnam ($X), with a X% share of global exports. It was followed by Bangladesh, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value in China amounted to +X%. In the other countries, the average annual rates were as follows: Vietnam (+X% per year) and Bangladesh (+X% per year).

Export Prices by Country

In 2018, the hat export price in Iceland amounted to $X per unit, jumping by X% against the previous year. Overall, the export price indicated a strong increase from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, hat export price increased by +X% against 2016 indices. The growth pace was the most rapid in 2018 an increase of X% y-o-y. In that year, the export prices for hats and other headgear attained their peak level and is likely to continue its growth in the immediate term.

Prices varied noticeably by the country of origin; the country with the highest price was Germany ($X per unit), while China ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Bangladesh, while the other leaders experienced mixed trends in the export price figures.

Hat Imports

Imports into Iceland

Hat imports into Iceland amounted to X units in 2018, increasing by X% against the previous year. Overall, the total imports indicated a tangible increase from 2007 to 2018: its volume increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, hat imports increased by +X% against 2012 indices. The pace of growth appeared the most rapid in 2016 when imports increased by X% against the previous year. Over the period under review, hat imports reached their maximum in 2018 and are expected to retain its growth in the near future.

In value terms, hat imports totaled $X in 2018. Over the period under review, hat imports continue to indicate a pronounced contraction. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Iceland imports peaked at $X in 2017, and then declined slightly in the following year.

Imports by Country

In 2018, the U.S. (X units) represented the main importer of hats and other headgear, making up X% of total imports. The UK (X units) ranks second in terms of the total imports with a X% share, followed by Germany (X%) and Japan (X%). The following importers - France (X units), Mexico (X units), the Netherlands (X units), Spain (X units), South Africa (X units), South Korea (X units), Belgium (X units) and Australia (X units) - together made up X% of total imports.

Imports into the U.S. decreased at an average annual rate of -X% from 2007 to 2018. At the same time, Mexico (+X%), the Netherlands (+X%), South Korea (+X%), the UK (+X%), South Africa (+X%), Germany (+X%), Japan (+X%), Belgium (+X%) and France (+X%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. By contrast, Australia (-X%) and Spain (-X%) illustrated a downward trend over the same period. While the share of Mexico (+X p.p.), the UK (+X p.p.) and the Netherlands (+X p.p.) increased significantly in terms of the global imports from 2007-2018, the share of the U.S. (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($X) constitutes the largest market for imported hats and other headgear into Iceland, comprising X% of global imports. The second position in the ranking was occupied by Japan ($X), with a X% share of global imports. It was followed by Germany, with a X% share.

From 2007 to 2018, the average annual growth rate of value in the U.S. amounted to +X%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (+X% per year) and Germany (+X% per year).

Import Prices by Country

The hat import price in Iceland stood at $X per unit in 2018, coming down by -X% against the previous year. Over the period under review, the hat import price continues to indicate a deep decline. The pace of growth was the most pronounced in 2011 an increase of X% year-to-year. Over the period under review, the import prices for hats and other headgear reached their maximum at $X per unit in 2008; however, from 2009 to 2018, import prices failed to regain their momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Japan ($X per unit), while South Africa ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Australia, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform