Price for Gloves, Mittens and Mitts; Knitted or Crocheted in Pakistan - 2023
Contents:
- Price for Gloves, Mittens and Mitts; Knitted or Crocheted in Pakistan (FOB) - 2023
- Price for Gloves, Mittens and Mitts; Knitted or Crocheted in Pakistan (CIF) - 2023
- Exports of Gloves, Mittens and Mitts; Knitted or Crocheted in Pakistan
- Imports of Gloves, Mittens and Mitts; Knitted or Crocheted in Pakistan
Price for Gloves, Mittens and Mitts; Knitted or Crocheted in Pakistan (FOB) - 2023
The average export price for gloves, mittens and mitts; knitted or crocheted stood at $20.0 per pair in December 2023, falling by -5.2% against the previous month. Overall, the export price recorded a mild contraction. The most prominent rate of growth was recorded in March 2023 when the average export price increased by 43% against the previous month. Over the period under review, the average export prices attained the maximum at $32.0 per pair in May 2023; however, from June 2023 to December 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In December 2023, the country with the highest price was Brazil ($25.6 per pair), while the average price for exports to Qatar ($9.5 per pair) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (-0.4%), while the prices for the other major destinations experienced a decline.
Price for Gloves, Mittens and Mitts; Knitted or Crocheted in Pakistan (CIF) - 2023
In December 2023, the average import price for gloves, mittens and mitts; knitted or crocheted amounted to $30.0 per pair, increasing by 6% against the previous month. Over the period under review, import price indicated noticeable growth from December 2022 to December 2023: its price increased at an average monthly rate of +3.0% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2023 figures, import price for gloves, mittens and mitts; knitted or crocheted increased by +22.2% against September 2023 indices. The growth pace was the most rapid in April 2023 an increase of 76% m-o-m. As a result, import price reached the peak level of $36.4 per pair. From May 2023 to December 2023, the average import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In December 2023, the country with the highest price was China ($30.5 per pair), while the price for Turkey totaled $21.9 per pair.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by the United States (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Gloves, Mittens and Mitts; Knitted or Crocheted in Pakistan
In 2022, the amount of gloves, mittens and mitts; knitted or crocheted exported from Pakistan surged to 184M pairs, growing by 61% compared with the previous year's figure. Over the period under review, exports recorded significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of gloves, mittens and mitts; knitted or crocheted totaled $324M in 2022. Overall, total exports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +16.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +58.4% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 30%. The exports peaked in 2022 and are expected to retain growth in the near future.
| Export of Gloves, Mittens and Mitts; Knitted or Crocheted in Pakistan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 52.4 | 74.4 | 91.8 | 75.8 | 13.1% |
| Germany | 27.6 | 41.2 | 47.8 | 52.0 | 23.5% |
| Netherlands | 18.0 | 20.8 | 23.5 | 23.6 | 9.4% |
| United Kingdom | 18.3 | 21.9 | 26.0 | 21.7 | 5.8% |
| France | 6.0 | 6.0 | 8.6 | 12.6 | 28.1% |
| Spain | 5.0 | 5.5 | 7.7 | 12.4 | 35.4% |
| United Arab Emirates | 3.1 | 5.9 | 7.1 | 10.1 | 48.2% |
| Belgium | 4.8 | 9.3 | 10.8 | 9.3 | 24.7% |
| Italy | 5.7 | 7.1 | 8.0 | 9.0 | 16.4% |
| Canada | 3.9 | 5.7 | 5.6 | 8.1 | 27.6% |
| Denmark | 3.9 | 5.5 | 8.0 | 6.6 | 19.2% |
| Sweden | 4.9 | 6.8 | 6.7 | 6.3 | 8.7% |
| Australia | 3.6 | 5.7 | 6.2 | 6.3 | 20.5% |
| Others | 47.2 | 49.4 | 60.8 | 70.2 | 14.1% |
| Total | 205 | 265 | 319 | 324 | 16.5% |
Top Export Markets for Gloves, Mittens and Mitts; Knitted or Crocheted from Pakistan in 2022:
- United States (40.7M pairs)
- Germany (34.4M pairs)
- Netherlands (12.9M pairs)
- United Kingdom (11.5M pairs)
- United Arab Emirates (7.2M pairs)
- France (7.2M pairs)
- Spain (5.9M pairs)
- Belgium (5.7M pairs)
- Italy (5.0M pairs)
- Canada (4.9M pairs)
- Denmark (3.6M pairs)
- Sweden (3.2M pairs)
- Australia (3.2M pairs)
Imports of Gloves, Mittens and Mitts; Knitted or Crocheted in Pakistan
In 2022, purchases abroad of gloves, mittens and mitts; knitted or crocheted decreased by -22.6% to 1.1M pairs for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2021 when imports increased by 594%. As a result, imports attained the peak of 1.4M pairs, and then dropped significantly in the following year.
In value terms, imports of gloves, mittens and mitts; knitted or crocheted declined rapidly to $3.7M in 2022. In general, imports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of 218%. As a result, imports attained the peak of $5M, and then dropped markedly in the following year.
| Import of Gloves, Mittens and Mitts; Knitted or Crocheted in Pakistan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1,730 | 1,288 | 4,573 | 3,232 | 23.2% |
| United States | 60.5 | 13.3 | 28.0 | 262 | 63.0% |
| Japan | 106 | 24.7 | 113 | 44.0 | -25.4% |
| Germany | 35.8 | 142 | 93.1 | 36.4 | 0.6% |
| United Arab Emirates | 164 | 7.6 | 39.7 | 13.4 | -56.6% |
| Others | 141 | 90.2 | 128 | 94.6 | -12.5% |
| Total | 2,237 | 1,567 | 4,975 | 3,682 | 18.1% |
Top Suppliers of Gloves, Mittens and Mitts; Knitted or Crocheted to Pakistan in 2022:
- China (902.6K pairs)
- United States (127.0K pairs)
- Japan (14.7K pairs)
- Germany (13.7K pairs)
- United Arab Emirates (5.6K pairs)
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