Australia: Sewing Machine Needle Market 2024

Sewing Machine Needle Market Size in Australia

The Australian sewing machine needle market fell remarkably to $X in 2022, reducing by -22.5% against the previous year. Overall, consumption showed a noticeable contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Sewing Machine Needle Production in Australia

In value terms, sewing machine needle production dropped markedly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a sharp downturn. The most prominent rate of growth was recorded in 2014 with an increase of 40% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Sewing Machine Needle Exports

Exports from Australia

Sewing machine needle exports from Australia soared to X units in 2022, jumping by 22% compared with the previous year's figure. Overall, exports, however, saw a precipitous setback. The most prominent rate of growth was recorded in 2014 with an increase of 83%. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, sewing machine needle exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate a pronounced setback. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for sewing machine needle exports from Australia, with a 83% share of total exports. Moreover, sewing machine needle exports to the United States exceeded the volume sent to the second major destination, Fiji (X units), tenfold. Malaysia (X units) ranked third in terms of total exports with a 7.7% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +30.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Fiji (+41.1% per year) and Malaysia (-12.7% per year).

In value terms, the United States ($X) remains the key foreign market for sewing machine needles exports from Australia, comprising 83% of total exports. The second position in the ranking was taken by Fiji ($X), with an 8.4% share of total exports. It was followed by Malaysia, with a 7.7% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +42.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Fiji (+58.7% per year) and Malaysia (+19.5% per year).

Export Prices by Country

In 2022, the average sewing machine needle export price amounted to $X per thousand units, jumping by 39% against the previous year. Over the period under review, the export price recorded a significant expansion. The pace of growth was the most pronounced in 2018 an increase of 588%. Over the period under review, the average export prices attained the maximum at $X per thousand units in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were New Zealand ($X per thousand units) and Malaysia ($X per thousand units), while the average price for exports to Fiji ($X per thousand units) and the United States ($X per thousand units) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (+43.8%), while the prices for the other major destinations experienced more modest paces of growth.

Sewing Machine Needle Imports

Imports into Australia

After two years of growth, overseas purchases of sewing machine needles decreased by -14.2% to X units in 2022. Over the period under review, imports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2020 when imports increased by 112% against the previous year. Over the period under review, imports attained the maximum at X units in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, sewing machine needle imports shrank rapidly to $X in 2022. Overall, imports, however, posted resilient growth. The growth pace was the most rapid in 2020 with an increase of 114% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then shrank remarkably in the following year.

Imports by Country

In 2022, China (X units) constituted the largest sewing machine needle supplier to Australia, with a 64% share of total imports. Moreover, sewing machine needle imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X units), sixfold. Vietnam (X units) ranked third in terms of total imports with a 9.9% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +42.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-3.0% per year) and Vietnam (+29.8% per year).

In value terms, China ($X) constituted the largest supplier of sewing machine needles to Australia, comprising 64% of total imports. The second position in the ranking was held by Singapore ($X), with a 10% share of total imports. It was followed by Vietnam, with a 9.9% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +62.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+0.5% per year) and Vietnam (+42.7% per year).

Import Prices by Country

In 2022, the average sewing machine needle import price amounted to $X per thousand units, waning by -2.1% against the previous year. Overall, the import price, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2018 an increase of 127% against the previous year. Over the period under review, average import prices reached the maximum at $X per thousand units in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Vietnam ($X per thousand units) and India ($X per thousand units), while the price for Singapore ($X per thousand units) and Taiwan (Chinese) ($X per thousand units) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+14.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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