Hat and Headgear Prices in China

China Hat and Headgear Export Price in September 2022

In September 2022, the hat and headgear price stood at $16.9 per unit (FOB, China), reducing by -10.1% against the previous month. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in February 2022 an increase of 15% m-o-m. Over the period under review, the average export prices hit record highs at $18.8 per unit in August 2022, and then fell in the following month.

There were significant differences in the average prices for the major overseas markets. In September 2022, the country with the highest price was Australia ($29.0 per unit), while the average price for exports to India ($11.2 per unit) was amongst the lowest.

From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.

China Hat and Headgear Export Prices by Type

Average prices varied somewhat for the major types of exported product. In September 2022, the products with the highest prices were hats and headgear, knitted or crocheted, or made up from lace, felt or other textile fabric in the piece (not in strips), whether or not lined or trimmed ($17.5 per unit) and hats and other headgear, plaited or made by assembling strips of any material, whether or not lined or trimmed ($15.4 per unit), while the average price for exports of head-bands, linings, covers, hat foundations, hat frames, peaks and chinstraps, for headgear ($13.6 per unit) and headgear, other than safety headgear, of materials other than rubber, plastic or furskin, whether or not lined or trimmed ($15.1 per unit) were amongst the lowest.

From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for the following types: head-bands, linings, covers, hat foundations, hat frames, peaks and chinstraps, for headgear (+1.4%), while the prices for the other products experienced more modest paces of growth.

China Hat and Headgear Exports

In September 2022, shipments abroad of hats and other headgear decreased by -0.6% to 27M units, falling for the second month in a row after five months of growth. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in May 2022 with an increase of 27% m-o-m. The exports peaked at 31M units in July 2022; however, from August 2022 to September 2022, the exports remained at a lower figure.

In value terms, hat and headgear exports contracted to $450M (IndexBox estimates) in September 2022. Over the period under review, total exports indicated mild growth from January 2022 to September 2022: its value increased at an average monthly rate of +1.3% over the last eight months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2022 figures, exports decreased by -21.3% against July 2022 indices. The most prominent rate of growth was recorded in May 2022 with an increase of 31% m-o-m. Over the period under review, the exports attained the maximum at 572M units in July 2022; however, from August 2022 to September 2022, the exports remained at a lower figure.

China Hat and Headgear Exports by Type

Hats and headgear, knitted or crocheted, or made up from lace, felt or other textile fabric in the piece (not in strips), whether or not lined or trimmed (21M units) was the largest type of hat and headgear exported from China, with a 77% share of total exports. Moreover, hats and headgear, knitted or crocheted, or made up from lace, felt or other textile fabric in the piece (not in strips), whether or not lined or trimmed exceeded the volume of the second product type, headgear, other than safety headgear, of materials other than rubber, plastic or furskin, whether or not lined or trimmed (3.9M units), fivefold. The third position in this ranking was held by head-bands, linings, covers, hat foundations, hat frames, peaks and chinstraps, for headgear (1.2M units), with a 4.3% share.

From January 2022 to September 2022, the average monthly rate of growth in terms of the volume of export of hats and headgear, knitted or crocheted, or made up from lace, felt or other textile fabric in the piece (not in strips), whether or not lined or trimmed totaled +2.9%. With regard to the other exported products, the following average monthly rates of growth were recorded: headgear, other than safety headgear, of materials other than rubber, plastic or furskin, whether or not lined or trimmed (-3.1% per month) and head-bands, linings, covers, hat foundations, hat frames, peaks and chinstraps, for headgear (-2.2% per month).

In value terms, hats and headgear, knitted or crocheted, or made up from lace, felt or other textile fabric in the piece (not in strips), whether or not lined or trimmed ($360M) remains the largest type of hat and headgear exported from China, comprising 80% of total exports. The second position in the ranking was taken by headgear, other than safety headgear, of materials other than rubber, plastic or furskin, whether or not lined or trimmed ($59M), with a 13% share of total exports. It was followed by head-bands, linings, covers, hat foundations, hat frames, peaks and chinstraps, for headgear, with a 3.5% share.

From January 2022 to September 2022, the average monthly growth rate of the export volume of hats and headgear, knitted or crocheted, or made up from lace, felt or other textile fabric in the piece (not in strips), whether or not lined or trimmed stood at +3.5%. With regard to the other exported products, the following average monthly rates of growth were recorded: headgear, other than safety headgear, of materials other than rubber, plastic or furskin, whether or not lined or trimmed (-2.9% per month) and head-bands, linings, covers, hat foundations, hat frames, peaks and chinstraps, for headgear (-0.9% per month).

China Hat and Headgear Exports by Country

The United States (5.7M units) was the main destination for hat and headgear exports from China, with a 21% share of total exports. Moreover, hat and headgear exports to the United States exceeded the volume sent to the second major destination, India (1.8M units), threefold. Mexico (1.2M units) ranked third in terms of total exports with a 4.3% share.

From January 2022 to September 2022, the average monthly growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average monthly rates of exports growth: India (+20.8% per month) and Mexico (+0.3% per month).

In value terms, the United States ($119M) remains the key foreign market for hat and headgear exports from China, comprising 26% of total exports. The second position in the ranking was held by Japan ($27M), with a 6% share of total exports. It was followed by the UK, with a 4.5% share.

From January 2022 to September 2022, the average monthly growth rate of value to the United States was relatively modest. Exports to the other major destinations recorded the following average monthly rates of exports growth: Japan (-1.8% per month) and the UK (+3.8% per month).

Source: IndexBox Market Intelligence Platform