Mexico: Hat Market Overview 2020

Hat Market Size in Mexico

The revenue of the hat market in Mexico amounted to $X in 2018, surging by X% against the previous year. In general, hat consumption, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the market value increased by X% y-o-y. In that year, the hat market reached its peak level of $X. From 2016 to 2018, the growth of the hat market failed to regain its momentum.

Hat Production in Mexico

In value terms, hat production stood at $X in 2018 estimated in export prices. Over the period under review, hat production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2010 with an increase of X% year-to-year. In that year, hat production reached its peak level of $X. From 2011 to 2018, hat production growth failed to regain its momentum.

Hat Exports

Exports from Mexico

Hat exports from Mexico totaled X units in 2018, rising by X% against the previous year. Over the period under review, hat exports continue to indicate a remarkable expansion. The growth pace was the most rapid in 2009 with an increase of X% y-o-y. Over the period under review, hat exports reached their maximum at X units in 2014; however, from 2015 to 2018, exports failed to regain their momentum.

In value terms, hat exports amounted to $X in 2018. Overall, hat exports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. Over the period under review, hat exports attained their maximum in 2018 and are expected to retain its growth in the near future.

Exports by Country

The U.S. (X units) was the main destination for hat exports from Mexico, accounting for a X% share of total exports. Moreover, hat exports to the U.S. exceeded the volume sent to the second major destination, Indonesia (X units), more than tenfold.

From 2007 to 2018, the average annual growth rate of volume to the U.S. stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+X% per year) and Costa Rica (+X% per year).

In value terms, the U.S. ($X) remains the key foreign market for hat exports from Mexico, comprising X% of total hat exports. The second position in the ranking was occupied by Costa Rica ($X), with a X% share of total exports.

From 2007 to 2018, the average annual growth rate of value to the U.S. totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+X% per year) and Indonesia (+X% per year).

Export Prices by Country

The average hat export price stood at $X per unit in 2018, going up by X% against the previous year. Overall, the hat export price, however, continues to indicate a mild downturn. The growth pace was the most rapid in 2017 an increase of X% against the previous year. The export price peaked at $X per unit in 2007; however, from 2008 to 2018, export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2018, the country with the highest price was Costa Rica ($X per unit), while the average price for exports to Indonesia ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Costa Rica, while the prices for the other major destinations experienced a decline.

Hat Imports

Imports into Mexico

In 2018, the amount of hats and other headgear imported into Mexico totaled X units, jumping by X% against the previous year. In general, hat imports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2010 when imports increased by X% year-to-year. Imports peaked at X units in 2015; however, from 2016 to 2018, imports failed to regain their momentum.

In value terms, hat imports amounted to $X in 2018. In general, hat imports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2010 with an increase of X% y-o-y. Imports peaked at $X in 2017, and then declined slightly in the following year.

Imports by Country

In 2018, China (X units) constituted the largest hat supplier to Mexico, accounting for a X% share of total imports. Moreover, hat imports from China exceeded the figures recorded by the second-largest supplier, the U.S. (X units), fourfold. The third position in this ranking was occupied by Viet Nam (X units), with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of volume from China stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the U.S. (+X% per year) and Viet Nam (+X% per year).

In value terms, China ($X) constituted the largest supplier of hat to Mexico, comprising X% of total hat imports. The second position in the ranking was occupied by the U.S. ($X), with a X% share of total imports. It was followed by Viet Nam, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value from China amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the U.S. (+X% per year) and Viet Nam (+X% per year).

Import Prices by Country

In 2018, the average hat import price amounted to $X per unit, falling by -X% against the previous year. In general, the hat import price continues to indicate an abrupt contraction. The most prominent rate of growth was recorded in 2014 when the average import price increased by X% year-to-year. The import price peaked at $X per unit in 2008; however, from 2009 to 2018, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2018, the country with the highest price was Bangladesh ($X per unit), while the price for Taiwan, Chinese ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Viet Nam, while the prices for the other major suppliers experienced a decline.

Source: IndexBox AI Platform