Thailand: Hat Market Overview 2020

Hat Market Size in Thailand

The revenue of the hat market in Thailand amounted to $X in 2018, growing by X% against the previous year. Over the period under review, hat consumption, however, continues to indicate a drastic decrease. The growth pace was the most rapid in 2010 when the market value increased by X% year-to-year. Hat consumption peaked at $X in 2007; however, from 2008 to 2018, consumption remained at a lower figure.

Hat Production in Thailand

In value terms, hat production stood at $X in 2018 estimated in export prices. Overall, hat production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X% year-to-year. Hat production peaked at $X in 2007; however, from 2008 to 2018, production stood at a somewhat lower figure.

Hat Exports

Exports from Thailand

Hat exports from Thailand stood at X units in 2018, remaining relatively unchanged against the previous year. Overall, hat exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 when exports increased by X% against the previous year. Exports peaked at X units in 2012; however, from 2013 to 2018, exports stood at a somewhat lower figure.

In value terms, hat exports totaled $X in 2018. Over the period under review, the total exports 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. Based on 2018 figures, hat exports increased by +X% against 2016 indices. The pace of growth was the most pronounced in 2017 when exports increased by X% y-o-y. Over the period under review, hat exports attained their maximum in 2018 and are likely to continue its growth in the immediate term.

Exports by Country

Japan (X units) was the main destination for hat exports from Thailand, with a X% share of total exports. Moreover, hat exports to Japan exceeded the volume sent to the second major destination, Portugal (X units), sixfold. China (X units) ranked third in terms of total exports with a X% share.

From 2007 to 2018, the average annual growth rate of volume to Japan totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+X% per year) and China (+X% per year).

In value terms, Japan ($X) remains the key foreign market for hat exports from Thailand, comprising X% of total hat exports. The second position in the ranking was occupied by Germany ($X), with a X% share of total exports. It was followed by the U.S., with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value to Japan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+X% per year) and the U.S. (+X% per year).

Export Prices by Country

In 2018, the average hat export price amounted to $X per unit, increasing by X% against the previous year. Over the period from 2007 to 2018, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2017 an increase of X% y-o-y. Over the period under review, the average export prices for hats and other headgear attained their maximum in 2018 and is expected to retain its growth in the near future.

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

Hat Imports

Imports into Thailand

In 2018, the amount of hats and other headgear imported into Thailand amounted to X units, going up by X% against the previous year. Over the period under review, hat imports continue to indicate resilient growth. The pace of growth was the most pronounced in 2014 with an increase of X% year-to-year. Over the period under review, hat imports attained their peak figure at X units in 2016; however, from 2017 to 2018, imports remained at a lower figure.

In value terms, hat imports totaled $X in 2018. Overall, hat imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2016 with an increase of X% year-to-year. Imports peaked in 2018 and are expected to retain its growth in the near future.

Imports by Country

In 2018, China (X units) was the main hat supplier to Thailand, accounting for a X% share of total imports. It was followed by the U.S. (X units), with a X% share of total imports.

From 2007 to 2018, the average annual growth rate of volume from China stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the U.S. (+X% per year) and Taiwan, Chinese (+X% per year).

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

From 2007 to 2018, the average annual growth rate of value from China stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan, Chinese (+X% per year) and the U.S. (+X% per year).

Import Prices by Country

In 2018, the average hat import price amounted to $X per unit, rising by X% against the previous year. Overall, the import price indicated prominent growth 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 2014 indices. The pace of growth appeared the most rapid in 2008 when the average import price increased by X% year-to-year. The import price peaked in 2018 and is expected to retain its growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2018, the country with the highest price was Taiwan, Chinese ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Taiwan, Chinese, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox AI Platform