Singapore: Woolen Fabric Market 2024

Woolen Fabric Market Size in Singapore

In 2022, the Singaporean woolen fabric market increased by X% to $X for the first time since 2018, thus ending a three-year declining trend. In general, consumption, however, saw a abrupt setback. Woolen fabric consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Woolen Fabric Production in Singapore

In value terms, woolen fabric production stood at $X in 2022 estimated in export price. In general, production, however, recorded a deep slump. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

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Woolen Fabric Exports

Exports from Singapore

Woolen fabric exports from Singapore dropped dramatically to X square meters in 2022, with a decrease of X% on the previous year's figure. Over the period under review, exports saw a deep reduction. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X square meters in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, woolen fabric exports fell significantly to $X in 2022. Overall, exports showed a abrupt decrease. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

India (X square meters) was the main destination for woolen fabric exports from Singapore, accounting for a X% share of total exports. Moreover, woolen fabric exports to India exceeded the volume sent to the second major destination, Vietnam (X square meters), fourfold. The third position in this ranking was taken by Thailand (X square meters), with a X% share.

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

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

From 2012 to 2022, the average annual rate of growth in terms of value to India stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Vietnam (X% per year).

Export Prices by Country

The average woolen fabric export price stood at $X per square meter in 2022, shrinking by X% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per square meter. From 2021 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per square meter), while the average price for exports to India ($X per square meter) was amongst the lowest.

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

Woolen Fabric Imports

Imports into Singapore

In 2022, purchases abroad of woven woolen fabrics increased by X% to X square meters for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, showed a deep downturn. Over the period under review, imports hit record highs at X square meters in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, woolen fabric imports surged to $X in 2022. In general, imports, however, recorded a abrupt slump. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

China (X square meters), Italy (X square meters) and the UK (X square meters) were the main suppliers of woolen fabric imports to Singapore, with a combined X% share of total imports. Germany, the United States, India, Lithuania, Chile, Hong Kong SAR, Belgium and Switzerland lagged somewhat behind, together accounting for a further X%.

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

In value terms, China ($X), Italy ($X) and the UK ($X) were the largest woolen fabric suppliers to Singapore, together comprising X% of total imports. Germany, the United States, India, Chile, Lithuania, Hong Kong SAR, Belgium and Switzerland lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Chile, with a CAGR of X%, saw the highest rates of growth with regard to 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 woolen fabric import price stood at $X per square meter in 2022, falling by X% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per square meter. From 2021 to 2022, the average import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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