Price for Gloves, Mittens and Mitts; Knitted or Crocheted in the Philippines - 2024
Contents:
- Price for Gloves, Mittens and Mitts; Knitted or Crocheted in the Philippines (FOB) - 2024
- Price for Gloves, Mittens and Mitts; Knitted or Crocheted in the Philippines (CIF) - 2024
- Exports of Gloves, Mittens and Mitts; Knitted or Crocheted in the Philippines
- Imports of Gloves, Mittens and Mitts; Knitted or Crocheted in the Philippines
Price for Gloves, Mittens and Mitts; Knitted or Crocheted in the Philippines (FOB) - 2024
The average export price for gloves, mittens and mitts; knitted or crocheted stood at $18.2 per pair in March 2024, with a decrease of -8.5% against the previous month. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in April 2023 an increase of 45% m-o-m. Over the period under review, the average export prices hit record highs at $33.8 per pair in July 2023; however, from August 2023 to March 2024, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was the United States ($36.8 per pair), while the average price for exports to Japan stood at $14.4 per pair.
From March 2023 to March 2024, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+0.6%).
Price for Gloves, Mittens and Mitts; Knitted or Crocheted in the Philippines (CIF) - 2024
In March 2024, the average import price for gloves, mittens and mitts; knitted or crocheted amounted to $1.6 per pair, picking up by 31% against the previous month. Overall, the import price, however, faced a deep setback. The import price peaked at $18.5 per pair in April 2023; however, from May 2023 to March 2024, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Malaysia ($3.4 per pair), while the price for China ($1.2 per pair) was amongst the lowest.
From March 2023 to March 2024, the most notable rate of growth in terms of prices was attained by Vietnam (-10.4%), while the prices for the other major suppliers experienced a decline.
Exports of Gloves, Mittens and Mitts; Knitted or Crocheted in the Philippines
In 2022, shipments abroad of gloves, mittens and mitts; knitted or crocheted decreased by -9.9% to 7.5M pairs for the first time since 2018, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +9.4% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 24%. Over the period under review, the exports of attained the peak figure at 8.3M pairs in 2021, and then contracted in the following year.
In value terms, exports of gloves, mittens and mitts; knitted or crocheted shrank to $19M in 2022. The total export value increased at an average annual rate of +1.0% from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 22% against the previous year. As a result, the exports attained the peak of $21M, and then declined in the following year.
| Export of Gloves, Mittens and Mitts; Knitted or Crocheted in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 6.9 | 5.3 | 10.3 | 8.6 | 7.6% |
| Japan | 10.1 | 9.5 | 8.0 | 8.1 | -7.1% |
| United Kingdom | 0.1 | 0.3 | 0.8 | 0.4 | 58.7% |
| China | 0.1 | 0.4 | 0.2 | 0.4 | 58.7% |
| Others | 1.4 | 1.7 | 1.6 | 1.8 | 8.7% |
| Total | 18.7 | 17.2 | 21.0 | 19.2 | 0.9% |
Top Export Markets for Gloves, Mittens and Mitts; Knitted or Crocheted from the Philippines in 2022:
- Japan (3.8M pairs)
- United States (2.8M pairs)
- China (0.1M pairs)
- United Kingdom (0.1M pairs)
Imports of Gloves, Mittens and Mitts; Knitted or Crocheted in the Philippines
In 2022, the amount of gloves, mittens and mitts; knitted or crocheted imported into the Philippines contracted notably to 3M pairs, dropping by -55% on 2021. Overall, imports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by 101%. As a result, imports reached the peak of 6.6M pairs, and then fell notably in the following year.
In value terms, imports of gloves, mittens and mitts; knitted or crocheted dropped dramatically to $5.7M in 2022. In general, imports continue to indicate a mild curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 115% against the previous year. As a result, imports reached the peak of $12M, and then shrank markedly in the following year.
| Import of Gloves, Mittens and Mitts; Knitted or Crocheted in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 3,180 | 3,118 | 3,279 | 2,590 | -6.6% |
| Malaysia | 497 | 458 | 6,891 | 944 | 23.8% |
| South Korea | 483 | 866 | 689 | 658 | 10.9% |
| Vietnam | 381 | 289 | 506 | 515 | 10.6% |
| Japan | 471 | 330 | 387 | 310 | -13.0% |
| Singapore | 210 | 276 | 155 | 131 | -14.6% |
| Indonesia | 269 | 116 | 54.7 | 105 | -26.9% |
| Pakistan | 67.1 | 70.1 | 6.2 | 60.5 | -3.4% |
| Others | 429 | 211 | 347 | 392 | -3.0% |
| Total | 5,987 | 5,736 | 12,314 | 5,707 | -1.6% |
Top Suppliers of Gloves, Mittens and Mitts; Knitted or Crocheted to the Philippines in 2022:
- China (1357.6K pairs)
- Malaysia (403.5K pairs)
- Vietnam (400.7K pairs)
- South Korea (303.0K pairs)
- Japan (156.4K pairs)
- Singapore (65.5K pairs)
- Pakistan (58.3K pairs)
- Indonesia (44.8K pairs)
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This report provides an in-depth analysis of the knitted gloves market in the Philippines.
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Global Knitted Gloves Market Report 2018. This report provides an in-depth analysis of the global knitted gloves market.
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