Price for Gloves, Mittens and Mitts; Knitted or Crocheted in Singapore - 2023

Price for Gloves, Mittens and Mitts; Knitted or Crocheted in Singapore (CIF) - 2023
Price for Gloves, Mittens and Mitts; Knitted or Crocheted in Singapore (FOB) - 2023
Imports of Gloves, Mittens and Mitts; Knitted or Crocheted in Singapore
Exports of Gloves, Mittens and Mitts; Knitted or Crocheted in Singapore

Price for Gloves, Mittens and Mitts; Knitted or Crocheted in Singapore (CIF) - 2023

The average import price for gloves, mittens and mitts; knitted or crocheted stood at $14.0 per pair in June 2023, dropping by -11.7% against the previous month. Overall, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in October 2022 an increase of 31% against the previous month. As a result, import price reached the peak level of $21.1 per pair. From November 2022 to June 2023, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Vietnam ($27.4 per pair), while the price for China ($11.8 per pair) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by India (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Gloves, Mittens and Mitts; Knitted or Crocheted in Singapore (FOB) - 2023

In June 2023, the average export price for gloves, mittens and mitts; knitted or crocheted amounted to $21.0 per pair, reducing by -17.8% against the previous month. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in August 2022 an increase of 21% m-o-m. As a result, the export price attained the peak level of $28.9 per pair. From September 2022 to June 2023, the the average export prices remained at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Australia ($25.1 per pair), while the average price for exports to Saudi Arabia ($7.9 per pair) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (+4.4%), while the prices for the other major destinations experienced a decline.

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

In 2022, approx. 10M pairs of gloves, mittens and mitts; knitted or crocheted were imported into Singapore; declining by -15.5% on 2021. In general, imports recorded a pronounced slump. The pace of growth was the most pronounced in 2021 when imports increased by 15%. As a result, imports attained the peak of 12M pairs, and then dropped dramatically in the following year.

In value terms, imports of gloves, mittens and mitts; knitted or crocheted fell to $17M in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 25%. As a result, imports attained the peak of $19M, and then fell in the following year.

Import of Gloves, Mittens and Mitts; Knitted or Crocheted in Singapore (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	9.5	8.1	9.6	8.9	-2.2%
Malaysia	2.6	3.4	4.4	2.0	-8.4%
Thailand	0.3	0.2	0.5	1.2	58.7%
Pakistan	0.6	0.3	0.7	0.6	0.0%
Indonesia	0.5	0.3	0.7	0.6	6.3%
India	0.1	0.1	0.2	0.6	81.7%
Vietnam	0.8	0.7	0.9	0.6	-9.1%
Sri Lanka	0.6	0.5	0.5	0.6	0.0%
South Korea	0.5	0.5	0.5	0.6	6.3%
Others	1.9	1.5	1.3	1.8	-1.8%
Total	17.3	15.5	19.3	17.5	0.4%

Top Suppliers of Gloves, Mittens and Mitts; Knitted or Crocheted to Singapore in 2022:

China (6.4M pairs)
Malaysia (1.0M pairs)
Thailand (0.9M pairs)
Pakistan (0.3M pairs)
Sri Lanka (0.3M pairs)
Indonesia (0.2M pairs)
India (0.2M pairs)
Vietnam (0.2M pairs)
South Korea (0.2M pairs)

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

In 2022, overseas shipments of gloves, mittens and mitts; knitted or crocheted decreased by -27.7% to 2.9M pairs, falling for the second year in a row after two years of growth. Overall, exports, however, saw buoyant growth. The pace of growth was the most pronounced in 2020 with an increase of 213%. As a result, the exports reached the peak of 7.5M pairs. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of gloves, mittens and mitts; knitted or crocheted shrank rapidly to $5.4M in 2022. Over the period under review, exports recorded a deep downturn. The growth pace was the most rapid in 2020 when exports increased by 179% against the previous year. As a result, the exports reached the peak of $19M. From 2021 to 2022, the growth of the exports of remained at a lower figure.

Export of Gloves, Mittens and Mitts; Knitted or Crocheted in Singapore (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Indonesia	902	565	545	1,079	6.2%
Thailand	256	492	531	514	26.2%
Saudi Arabia	2.3	1.8	183	487	496.0%
Australia	355	394	622	456	8.7%
Malaysia	855	543	596	440	-19.9%
New Zealand	146	202	220	246	19.0%
China	57.9	237	116	212	54.1%
South Africa	158	174	195	168	2.1%
Sweden	309	61.4	12.5	141	-23.0%
Norway	1.5	150	132	98.9	304.0%
Solomon Islands	2.1	10.3	13.8	54.4	195.9%
Hong Kong SAR	160	11,981	357	36.6	-38.8%
Netherlands	52.9	1,007	971	34.2	-13.5%
Others	3,491	2,986	3,312	1,455	-25.3%
Total	6,749	18,804	7,806	5,423	-7.0%