Price for Gloves, Mittens and Mitts; Knitted or Crocheted in China - 2024

Price for Gloves, Mittens and Mitts; Knitted or Crocheted in China (FOB) - 2024

The average export price for gloves, mittens and mitts; knitted or crocheted stood at $406 per thousand pairs in May 2024, with an increase of 6.8% against the previous month. Over the period under review, the export price, however, saw a relatively flat trend pattern. The export price peaked at $506 per thousand pairs in August 2023; however, from September 2023 to May 2024, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In May 2024, the country with the highest price was the United States ($843 per thousand pairs), while the average price for exports to Vietnam ($130 per thousand pairs) was amongst the lowest.

From May 2023 to May 2024, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+2.7%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Gloves, Mittens and Mitts; Knitted or Crocheted in China (CIF) - 2024

In May 2024, the average import price for gloves, mittens and mitts; knitted or crocheted amounted to $940 per thousand pairs, shrinking by -21.5% against the previous month. Over the period under review, the import price continues to indicate a abrupt setback. The growth pace was the most rapid in August 2023 an increase of 258% against the previous month. As a result, import price attained the peak level of $3.2 per pair. From September 2023 to May 2024, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In May 2024, the country with the highest price was Cambodia ($8.7 per pair), while the price for Malaysia ($215 per thousand pairs) was amongst the lowest.

From May 2023 to May 2024, the most notable rate of growth in terms of prices was attained by Japan (+6.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Exports of Gloves, Mittens and Mitts; Knitted or Crocheted in China

In 2022, exports of gloves, mittens and mitts; knitted or crocheted from China rose modestly to 6.6B pairs, picking up by 3.2% against 2021. Overall, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2021 when exports increased by 59% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, exports of gloves, mittens and mitts; knitted or crocheted rose significantly to $3.3B in 2022. The total export value increased at an average annual rate of +5.1% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 20%. Over the period under review, the exports of hit record highs in 2022 and are likely to see gradual growth in years to come.

Export of Gloves, Mittens and Mitts; Knitted or Crocheted in China (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	608	546	606	685	4.1%
Japan	267	258	269	284	2.1%
Germany	142	127	171	177	7.6%
South Korea	143	122	148	170	5.9%
Russia	95.9	72.2	99.1	157	17.9%
United Kingdom	108	94.4	121	119	3.3%
Poland	83.7	75.2	94.8	108	8.9%
France	77.7	78.1	90.3	94.8	6.9%
Canada	65.5	64.2	73.2	83.5	8.4%
Brazil	51.6	39.1	63.9	68.4	9.9%
India	79.3	74.3	56.2	65.4	-6.2%
Vietnam	38.5	37.0	45.1	54.2	12.1%
Saudi Arabia	31.3	36.9	31.5	41.3	9.7%
Others	1,067	833	1,072	1,212	4.3%
Total	2,858	2,457	2,941	3,319	5.1%

Top Export Markets for Gloves, Mittens and Mitts; Knitted or Crocheted from China in 2022:

United States (868.1M pairs)
Japan (844.1M pairs)
South Korea (593.0M pairs)
Poland (355.0M pairs)
Germany (272.2M pairs)
Vietnam (201.5M pairs)
United Kingdom (186.7M pairs)
India (183.9M pairs)
Brazil (174.7M pairs)
Russia (169.7M pairs)
France (152.9M pairs)
Saudi Arabia (137.3M pairs)
Canada (125.1M pairs)

Imports of Gloves, Mittens and Mitts; Knitted or Crocheted in China

For the fourth year in a row, China recorded growth in supplies from abroad of gloves, mittens and mitts; knitted or crocheted, which increased by 33% to 14M pairs in 2022. In general, total imports indicated significant growth from 2019 to 2022: its volume increased at an average annual rate of +23.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +86.3% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of gloves, mittens and mitts; knitted or crocheted totaled $24M in 2022. The total import value increased at an average annual rate of +8.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 30% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

Import of Gloves, Mittens and Mitts; Knitted or Crocheted in China (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Vietnam	4.6	5.1	7.5	7.8	19.2%
Sri Lanka	2.0	1.3	1.9	2.3	4.8%
South Korea	1.7	1.9	2.4	2.2	9.0%
Cambodia	0.5	0.8	2.6	2.0	58.7%
Indonesia	2.5	1.4	0.8	1.7	-12.1%
Pakistan	0.7	0.6	0.7	1.1	16.3%
United States	0.5	0.4	0.5	0.8	17.0%
Malaysia	1.0	0.7	0.7	0.8	-7.2%
Japan	2.4	1.0	0.6	0.7	-33.7%
Bangladesh	0.4	0.1	0.2	0.4	0.0%
Others	2.4	4.1	4.7	3.8	16.6%
Total	18.6	17.4	22.6	23.6	8.3%