Singapore: Non-Cotton Terry Towelling Market 2024

Non-Cotton Terry Towelling Market Size in Singapore

The Singaporean non-cotton terry towelling market expanded sharply to $X in 2023, increasing 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). Overall, consumption recorded a strong expansion. Over the period under review, the market hit record highs in 2023 and is expected to retain growth in years to come.

Non-Cotton Terry Towelling Exports

Exports from Singapore

In 2023, overseas shipments of terry towelling (excluding of cotton) decreased by X% to X square meters, falling for the second consecutive year after two years of growth. In general, exports continue to indicate a dramatic shrinkage. The pace of growth appeared the most rapid in 2015 when exports increased by X%. The exports peaked at X square meters in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, non-cotton terry towelling exports dropped to $X in 2023. Overall, exports showed a sharp decrease. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

Indonesia (X square meters) was the main destination for non-cotton terry towelling exports from Singapore, accounting for a X% share of total exports. It was followed by Malaysia (X square meters), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of volume to Indonesia stood at X%.

In value terms, Indonesia ($X) remains the key foreign market for terry towelling (excluding of cotton) exports from Singapore, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value to Indonesia amounted to X%.

Export Prices by Country

The average non-cotton terry towelling export price stood at $X per square meter in 2023, picking up by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per square meter. From 2015 to 2023, the average export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Indonesia ($X per square meter), while the average price for exports to Malaysia stood at $X per square meter.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Non-Cotton Terry Towelling Imports

Imports into Singapore

In 2023, approx. X square meters of terry towelling (excluding of cotton) were imported into Singapore; growing by X% on the previous year's figure. Overall, imports showed a strong expansion. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Imports peaked in 2023 and are likely to see steady growth in the immediate term.

In value terms, non-cotton terry towelling imports declined to $X in 2023. In general, total imports indicated a mild expansion from 2012 to 2023: its value 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 2023 figures, imports increased by X% against 2021 indices. The growth pace was the most rapid in 2022 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, China (X square meters) constituted the largest supplier of non-cotton terry towelling to Singapore, with a X% share of total imports. Moreover, non-cotton terry towelling imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X square meters), fourfold. Indonesia (X square meters) ranked third in terms of total imports with a X% share.

From 2012 to 2023, 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: Turkey (X% per year) and Indonesia (X% per year).

In value terms, China ($X) constituted the largest supplier of terry towelling (excluding of cotton) to Singapore, comprising X% of total imports. The second position in the ranking was taken by Turkey ($X), with a X% share of total imports. It was followed by Indonesia, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Indonesia (X% per year).

Import Prices by Country

In 2023, the average non-cotton terry towelling import price amounted to $X per square meter, with a decrease of X% against the previous year. Over the period under review, the import price showed a perceptible setback. The pace of growth was the most pronounced in 2022 an increase of X%. The import price peaked at $X per square meter in 2013; however, from 2014 to 2023, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the countries with the highest prices were Turkey ($X per square meter) and Indonesia ($X per square meter), while the price for the UK ($X per square meter) and Malaysia ($X per square meter) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Pakistan (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform