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Cuba - Track Suits, Ski Suits and Swimwear - Market Analysis, Forecast, Size, Trends and Insights
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View PricingCuba: Sportswear Market 2024
Sportswear Market Size in Cuba
The Cuban sportswear market declined to $X in 2021, falling by -4.7% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2020, and then dropped in the following year.
Sportswear Production in Cuba
In value terms, sportswear production reduced to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a modest expansion. The pace of growth appeared the most rapid in 2017 when the production volume increased by 94% against the previous year. Sportswear production peaked at $X in 2020, and then declined in the following year.
Sportswear Exports
Exports from Cuba
In 2021, overseas shipments of track suits, ski suits and swimwear increased by 9.7% to X units, rising for the third consecutive year after two years of decline. Overall, exports, however, recorded a pronounced decrease. The most prominent rate of growth was recorded in 2019 when exports increased by 123%. The exports peaked at X units in 2016; however, from 2017 to 2021, the exports remained at a lower figure.
In value terms, sportswear exports fell to $X in 2021. Over the period under review, total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -6.7% against 2019 indices. The most prominent rate of growth was recorded in 2019 when exports increased by 45% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.
Exports by Country
Canada (X units) was the main destination for sportswear exports from Cuba, accounting for a approx. 100% share of total exports.
From 2012 to 2021, the average annual growth rate of volume to Canada amounted to +11.3%.
In value terms, Canada ($X) also remains the key foreign market for track suits, ski suits and swimwear exports from Cuba.
From 2012 to 2021, the average annual rate of growth in terms of value to Canada stood at +16.5%.
Export Prices by Country
The average sportswear export price stood at $X per unit in 2021, with a decrease of -11.9% against the previous year. In general, the export price, however, saw a buoyant increase. The growth pace was the most rapid in 2018 when the average export price increased by 456% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2021, the average export prices remained at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for Canada.
From 2012 to 2021, the rate of growth in terms of prices for Canada amounted to +4.6% per year.
Sportswear Imports
Imports into Cuba
After two years of decline, supplies from abroad of track suits, ski suits and swimwear increased by 17% to X units in 2021. In general, imports, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2018 with an increase of 106%. Over the period under review, imports hit record highs at X units in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.
In value terms, sportswear imports declined slightly to $X in 2021. Over the period under review, imports, however, recorded a abrupt decline. The pace of growth appeared the most rapid in 2014 with an increase of 75%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.
Imports by Country
In 2021, China (X units) constituted the largest supplier of sportswear to Cuba, accounting for a 60% share of total imports. Moreover, sportswear imports from China exceeded the figures recorded by the second-largest supplier, Panama (X units), threefold. Spain (X units) ranked third in terms of total imports with a 13% share.
From 2012 to 2021, the average annual growth rate of volume from China stood at +20.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (-30.8% per year) and Spain (-12.2% per year).
In value terms, China ($X) constituted the largest supplier of track suits, ski suits and swimwear to Cuba, comprising 47% of total imports. The second position in the ranking was held by Panama ($X), with a 22% share of total imports. It was followed by Spain, with a 15% share.
From 2012 to 2021, the average annual growth rate of value from China stood at +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (-23.7% per year) and Spain (-11.5% per year).
Import Prices by Country
The average sportswear import price stood at $X per unit in 2021, declining by -18.7% against the previous year. Over the period under review, import price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sportswear import price increased by +29.4% against 2018 indices. The pace of growth was the most pronounced in 2013 when the average import price increased by 66% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.
Prices varied noticeably country of origin: the country with the highest price was Mexico ($X per unit), while the price for Peru ($X per unit) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+13.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the sportswear market in Cuba. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 14191210 - Track-suits, of knitted or crocheted textiles
- Prodcom 14191230 - Ski-suits, of knitted or crocheted textiles
- Prodcom 14191240 - Men
- Prodcom 14191250 - Women
Country coverage:
- Cuba
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Cuba
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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