Singapore: Household Sewing Machine Market 2024

Household Sewing Machine Market Size in Singapore

The Singaporean household sewing machine market fell remarkably to $X in 2022, reducing by X% against the previous year. Overall, consumption showed a perceptible curtailment. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Household Sewing Machine Production in Singapore

In value terms, household sewing machine production shrank rapidly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a resilient increase. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Household Sewing Machine Exports

Exports from Singapore

In 2022, household sewing machine exports from Singapore dropped markedly to X units, which is down by X% against 2021 figures. Over the period under review, exports, however, saw perceptible growth. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, household sewing machine exports expanded rapidly to $X in 2022. In general, exports recorded a deep setback. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Vietnam (X units) was the main destination for household sewing machine exports from Singapore, accounting for a X% share of total exports. Moreover, household sewing machine exports to Vietnam exceeded the volume sent to the second major destination, Hong Kong SAR (X units), twofold. Cambodia (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Vietnam totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (X% per year) and Cambodia (X% per year).

In value terms, Hong Kong SAR ($X) emerged as the key foreign market for household sewing machines exports from Singapore, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with an X% share of total exports. It was followed by Bangladesh, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Hong Kong SAR amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Bangladesh (X% per year).

Export Prices by Country

The average household sewing machine export price stood at $X per unit in 2022, surging by X% against the previous year. In general, the export price, however, saw a deep contraction. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to Timor-Leste ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (X%), while the prices for the other major destinations experienced a decline.

Household Sewing Machine Imports

Imports into Singapore

In 2022, supplies from abroad of household sewing machines decreased by X% to X units, falling for the third year in a row after two years of growth. In general, imports, however, recorded slight growth. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Imports peaked at X units in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, household sewing machine imports shrank dramatically to $X in 2022. Over the period under review, imports showed a deep setback. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Japan (X units) and Vietnam (X units) were the main suppliers of household sewing machine imports to Singapore, together comprising X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Vietnam ($X) and Taiwan (Chinese) ($X) constituted the largest household sewing machine suppliers to Singapore, with a combined X% share of total imports.

Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average household sewing machine import price stood at $X per unit in 2022, increasing by X% against the previous year. In general, the import price, however, showed a abrupt descent. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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