Singapore: Flax Fabric Market 2024

Flax Fabric Market Size in Singapore

In 2022, the Singaporean flax fabric market decreased by X% to $X for the first time since 2011, thus ending a ten-year rising trend. Overall, consumption continues to indicate a abrupt downturn. As a result, consumption reached the peak level of $X, and then dropped notably in the following year.

Flax Fabric Production in Singapore

In value terms, flax fabric production skyrocketed to $X in 2022 estimated in export price. Overall, production saw a drastic downturn. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

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Flax Fabric Exports

Exports from Singapore

In 2022, approx. X square meters of woven fabrics of flax were exported from Singapore; which is down by X% compared with the previous year's figure. Overall, exports continue to indicate a abrupt setback. The smallest decline of X% was in 2021. The exports peaked at X square meters in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, flax fabric exports plummeted to $X in 2022. In general, exports, however, recorded a pronounced expansion. The pace of growth appeared the most rapid in 2020 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2021, and then contracted significantly in the following year.

Exports by Country

Australia (X square meters) was the main destination for flax fabric exports from Singapore, accounting for a X% share of total exports. Moreover, flax fabric exports to Australia exceeded the volume sent to the second major destination, Indonesia (X square meters), fourfold. Malaysia (X square meters) ranked third in terms of total exports with a X% share.

From 2020 to 2022, the average annual growth rate of volume to Australia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and Malaysia (X% per year).

In value terms, Australia ($X) remains the key foreign market for woven fabrics of flax exports from Singapore, comprising X% of total exports. The second position in the ranking was held by Indonesia ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

From 2020 to 2022, the average annual growth rate of value to Australia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and Malaysia (X% per year).

Export Prices by Country

The average flax fabric export price stood at $X per square meter in 2022, shrinking by X% against the previous year. In general, the export price showed a abrupt slump. The pace of growth was the most pronounced in 2021 when the average export price increased by X%. As a result, the export price attained the peak level of $X per square meter, and then contracted sharply in the following year.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to India ($X per square meter) and Malaysia ($X per square meter), while the average price for exports to Australia ($X per square meter) and New Zealand ($X per square meter) were amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (X%), while the prices for the other major destinations experienced a decline.

Flax Fabric Imports

Imports into Singapore

In 2022, supplies from abroad of woven fabrics of flax decreased by X% to X square meters for the first time since 2011, thus ending a ten-year rising trend. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X square meters, and then declined significantly in the following year.

In value terms, flax fabric imports reduced sharply to $X in 2022. Over the period under review, imports, however, posted slight growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Imports peaked at $X in 2021, and then dropped rapidly in the following year.

Imports by Country

Italy (X square meters), Belgium (X square meters) and India (X square meters) were the main suppliers of flax fabric imports to Singapore, with a combined X% share of total imports.

From 2020 to 2022, the biggest increases were recorded for Belgium (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), India ($X) and Belgium ($X) appeared to be the largest flax fabric suppliers to Singapore, together accounting for X% of total imports.

Among the main suppliers, India, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average flax fabric import price stood at $X per square meter in 2022, standing approx. at the previous year. Over the period from 2020 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, import price attained the peak level of $X per square meter, leveling off in the following year.

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 Spain ($X per square meter), while the price for the Netherlands ($X per square meter) was amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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