Cuba: Jersey Market 2024

Jersey Market Size in Cuba

The Cuban jersey market contracted to $X in 2021, which is down by -11.7% against the previous year. The market value increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Jersey Production in Cuba

In value terms, jersey production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when the production volume increased by 35% against the previous year. Jersey production peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Jersey Exports

Exports from Cuba

In 2021, shipments abroad of jerseys, pullovers, cardigans and similar articles was finally on the rise to reach X units after eight years of decline. Over the period under review, exports, however, showed a dramatic decline. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, jersey exports soared to $X in 2021. In general, exports, however, faced a significant decrease. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Switzerland (X units) was the main destination for jersey exports from Cuba, accounting for a 41% share of total exports. Moreover, jersey exports to Switzerland exceeded the volume sent to the second major destination, Panama (X units), threefold. The third position in this ranking was held by Angola (X units), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to Switzerland totaled +31.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (-45.6% per year) and Angola (-2.8% per year).

In value terms, Switzerland ($X) emerged as the key foreign market for jerseys, pullovers, cardigans and similar articles exports from Cuba, comprising 71% of total exports. The second position in the ranking was taken by Sweden ($X), with a 10% share of total exports. It was followed by Poland, with a 5.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Switzerland amounted to +40.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (0.0% per year) and Poland (0.0% per year).

Export Prices by Country

In 2021, the average jersey export price amounted to $X per unit, growing by 65% against the previous year. Overall, export price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, jersey export price increased by +100.8% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Switzerland ($X per unit), while the average price for exports to Angola ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+4.8%), while the prices for the other major destinations experienced a decline.

Jersey Imports

Imports into Cuba

In 2021, supplies from abroad of jerseys, pullovers, cardigans and similar articles decreased by -27.9% to X units, falling for the fourth year in a row after two years of growth. In general, imports faced a abrupt descent. The pace of growth appeared the most rapid in 2014 when imports increased by 36% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, jersey imports contracted markedly to $X in 2021. Overall, imports saw a sharp downturn. The most prominent rate of growth was recorded in 2014 with an increase of 15%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

South Africa (X units), Mexico (X units) and Spain (X units) were the main suppliers of jersey imports to Cuba, together comprising 79% of total imports.

From 2012 to 2021, the biggest increases were recorded for South Africa (with a CAGR of +64.3%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Panama ($X), South Africa ($X) and Mexico ($X) appeared to be the largest jersey suppliers to Cuba, with a combined 82% share of total imports.

South Africa, with a CAGR of +61.3%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average jersey import price stood at $X per unit in 2021, reducing by -24.9% against the previous year. In general, the import price saw a pronounced contraction. The most prominent rate of growth was recorded in 2015 an increase of 28% against the previous year. As a result, import price attained the peak level of $X per unit. From 2016 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Panama ($X per unit), while the price for Mexico ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+13.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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