Nepal: Mannequin Market 2024

Mannequin Market Size in Nepal

The Nepalese mannequin market shrank rapidly to $X in 2022, falling by -21.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2021, and then reduced remarkably in the following year.

Mannequin Exports

Exports from Nepal

In 2022, the amount of mannequins exported from Nepal surged to X kg, picking up by 468% on the year before. In general, exports, however, recorded a deep slump. The exports peaked at X kg in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, mannequin exports surged to $X in 2022. Over the period under review, exports, however, saw a pronounced reduction. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X kg) was the main destination for mannequin exports from Nepal, with a 66% share of total exports. Moreover, mannequin exports to the United Arab Emirates exceeded the volume sent to the second major destination, India (X kg), fourfold. The third position in this ranking was taken by the United States (X kg), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates stood at +42.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-13.9% per year) and the United States (-19.4% per year).

In value terms, the United States ($X) remains the key foreign market for mannequins exports from Nepal, comprising 58% of total exports. The second position in the ranking was taken by India ($X), with a 24% share of total exports. It was followed by the United Arab Emirates, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-4.2% per year) and the United Arab Emirates (+41.6% per year).

Export Prices by Country

In 2022, the average mannequin export price amounted to $X per ton, which is down by -15.6% against the previous year. Over the period under review, the export price, however, saw a resilient increase. The growth pace was the most rapid in 2021 when the average export price increased by 79%. As a result, the export price attained the peak level of $X per ton, and then dropped remarkably 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 ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+27.3%), while the prices for the other major destinations experienced more modest paces of growth.

Mannequin Imports

Imports into Nepal

In 2022, approx. X tons of mannequins were imported into Nepal; falling by -18% against the previous year's figure. Overall, imports saw a noticeable descent. The pace of growth was the most pronounced in 2014 with an increase of 129% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, mannequin imports reduced notably to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 152% against the previous year. Imports peaked at $X in 2021, and then contracted notably in the following year.

Imports by Country

India (X tons), Israel (X tons) and China (X kg) were the main suppliers of mannequin imports to Nepal, with a combined 75% share of total imports. The United States, Qatar, Germany and the Philippines lagged somewhat behind, together comprising a further 16%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Qatar (with a CAGR of +37.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Israel ($X) and China ($X) appeared to be the largest mannequin suppliers to Nepal, with a combined 77% share of total imports. The Philippines, Germany, the United States and Qatar lagged somewhat behind, together accounting for a further 15%.

In terms of the main suppliers, Qatar, with a CAGR of +60.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average mannequin import price stood at $X per ton in 2022, dropping by -3.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.1%. The pace of growth was the most pronounced in 2018 when the average import price increased by 17%. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then shrank slightly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Philippines ($X per ton), while the price for Qatar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+16.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform