Indonesia: Hat And Headgear Market 2024

Hat And Headgear Market Size in Indonesia

The Indonesian hat and headgear market shrank sharply to $X in 2022, which is down by -97.2% against the previous year. In general, consumption faced a precipitous slump. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Hat And Headgear Production in Indonesia

In value terms, hat and headgear production declined modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of 10%. Over the period under review, production reached the maximum level at $X in 2021, and then declined slightly in the following year.

Hat And Headgear Exports

Exports from Indonesia

After two years of decline, overseas shipments of hats and other headgear increased by 271% to X units in 2022. In general, exports recorded a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, hat and headgear exports soared to $X in 2022. Overall, exports posted a prominent expansion. The pace of growth appeared the most rapid in 2016 with an increase of 23%. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in years to come.

Exports by Country

Myanmar (X units) was the main destination for hat and headgear exports from Indonesia, accounting for a 96% share of total exports. It was followed by France (X units), with a 0.3% share of total exports. The third position in this ranking was taken by the United Arab Emirates (X units), with a 0.3% share.

From 2012 to 2022, the average annual growth rate of volume to Myanmar totaled +300.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+0.9% per year) and the United Arab Emirates (-14.7% per year).

In value terms, Myanmar ($X) emerged as the key foreign market for hats and other headgear exports from Indonesia, comprising 95% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 0.7% share of total exports. It was followed by the United States, with a 0.7% share.

From 2012 to 2022, the average annual growth rate of value to Myanmar totaled +211.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-0.8% per year) and the United States (-9.2% per year).

Export Prices by Country

The average hat and headgear export price stood at $X per unit in 2022, shrinking by -67.9% against the previous year. Overall, the export price showed a abrupt descent. The pace of growth was the most pronounced in 2018 when the average export price increased by 28%. Over the period under review, the average export prices reached the maximum at $X per unit in 2021, and then shrank dramatically in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+26.5%), while the prices for the other major destinations experienced mixed trend patterns.

Hat And Headgear Imports

Imports into Indonesia

In 2022, supplies from abroad of hats and other headgear was finally on the rise to reach X units for the first time since 2018, thus ending a three-year declining trend. Overall, imports recorded a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, hat and headgear imports skyrocketed to $X in 2022. In general, imports saw resilient growth. The growth pace was the most rapid in 2016 with an increase of 43%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Myanmar (X units) constituted the largest hat and headgear supplier to Indonesia, with a 72% share of total imports. Moreover, hat and headgear imports from Myanmar exceeded the figures recorded by the second-largest supplier, China (X units), threefold. Singapore (X units) ranked third in terms of total imports with a 1.3% share.

From 2012 to 2022, the average annual growth rate of volume from Myanmar totaled +518.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+2.4% per year) and Singapore (-0.7% per year).

In value terms, Myanmar ($X) constituted the largest supplier of hats and other headgear to Indonesia, comprising 84% of total imports. The second position in the ranking was held by China ($X), with a 10% share of total imports. It was followed by Singapore, with a 2.8% share.

From 2012 to 2022, the average annual growth rate of value from Myanmar amounted to +407.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-7.1% per year) and Singapore (-9.4% per year).

Import Prices by Country

In 2022, the average hat and headgear import price amounted to $X per unit, dropping by -34.3% against the previous year. Overall, the import price recorded a deep reduction. The most prominent rate of growth was recorded in 2014 when the average import price increased by 19% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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