Republic of Korea: Hat Market Overview 2020

Hat Market Size in Republic of Korea

The revenue of the hat market in South Korea amounted to $X in 2018, picking up by X% against the previous year. Overall, the total market indicated a resilient increase from 2007 to 2018: its value 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. The most prominent rate of growth was recorded in 2018 when the market value increased by X% against the previous year. In that year, the hat market attained its peak level and is likely to continue its growth in the immediate term.

Hat Production in Republic of Korea

In value terms, hat production totaled $X in 2018 estimated in export prices. Overall, hat production, however, continues to indicate a slight descent. The most prominent rate of growth was recorded in 2018 when production volume increased by X% against the previous year. Over the period under review, hat production reached its peak figure level at $X in 2014; however, from 2015 to 2018, production remained at a lower figure.

Hat Exports

Exports from Republic of Korea

In 2018, the exports of hats and other headgear from South Korea totaled X units, growing by X% against the previous year. In general, the total exports indicated prominent growth 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 exports decreased by -X% against 2016 indices. The most prominent rate of growth was recorded in 2016 with an increase of X% y-o-y. In that year, hat exports reached 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, the total exports indicated a prominent increase from 2007 to 2018: its value 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 exports increased by +X% against 2014 indices. The pace of growth was the most pronounced in 2014 with an increase of X% y-o-y. Over the period under review, hat exports reached their maximum in 2018 and are likely to continue its growth in the immediate term.

Exports by Country

Viet Nam (X units), Nigeria (X units) and China (X units) were the main destinations of hat exports from South Korea, together accounting for X% of total exports. The U.S., the Philippines, Japan and Bangladesh lagged somewhat behind, together accounting for a further X 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main countries of destination, was attained by the Philippines, while exports for the other leaders experienced more modest paces of growth.

In value terms, Viet Nam ($X), the U.S. ($X) and China ($X) constituted the largest markets for hat exported from South Korea worldwide, with a combined X% share of total exports. Japan, Bangladesh, Nigeria and the Philippines lagged somewhat behind, together comprising a further X the main countries of destination, the Philippines experienced the highest growth rate of market size, over the period under review, while exports for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average hat export price stood at $X per unit in 2018, going up by X% against the previous year. In general, the hat export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average export price increased by X% year-to-year. Over the period under review, the average export prices for hats and other headgear reached their peak figure at $X per unit in 2014; however, from 2015 to 2018, export prices failed to regain their momentum.

There were significant differences in the average prices for the major foreign markets. In 2018, the country with the highest price was the U.S. ($X per unit), while the average price for exports to Nigeria ($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 China, while the prices for the other major destinations experienced more modest paces of growth.

Hat Imports

Imports into Republic of Korea

Hat imports into South Korea totaled X units in 2018, going up by X% against the previous year. In general, hat imports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Imports peaked in 2018 and are expected to retain its growth in the immediate term.

In value terms, hat imports totaled $X in 2018. In general, hat imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Imports peaked in 2018 and are expected to retain its growth in the near future.

Imports by Country

In 2018, China (X units) constituted the largest hat supplier to South Korea, with a X% share of total imports. Moreover, hat imports from China exceeded the figures recorded by the second-largest supplier, Viet Nam (X units), fourfold.

From 2007 to 2018, the average annual growth rate of volume from China totaled +X%.

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

From 2007 to 2018, the average annual growth rate of value from China totaled +X%.

Import Prices by Country

The average hat import price stood at $X per unit in 2018, jumping by X% against the previous year. Overall, the import price indicated a resilient increase from 2007 to 2018: its price 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 import price increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2014 an increase of X% y-o-y. The import price peaked in 2018 and is expected to retain its growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2018, the country with the highest price was Viet Nam ($X per unit), while the price for China amounted to $X per unit.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China.

Source: IndexBox AI Platform