Russian Federation: Knitting Machines Market 2024

Knitting Machines Market Size in the Russian Federation

In 2021, the Russian knitting machines market increased by 18% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, showed a noticeable downturn. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Knitting Machines Exports

Exports from the Russian Federation

In 2021, exports of knitting machineses from Russia surged to X units, with an increase of 139% against 2020 figures. Overall, exports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2019 with an increase of 273%. The exports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, knitting machines exports skyrocketed to $X in 2021. In general, exports showed a perceptible increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Uzbekistan (X units) was the main destination for knitting machines exports from Russia, with a 66% share of total exports. Moreover, knitting machines exports to Uzbekistan exceeded the volume sent to the second major destination, Armenia (X units), fourfold. The third position in this ranking was held by Kazakhstan (X units), with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Uzbekistan amounted to +35.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Armenia (+59.6% per year) and Kazakhstan (+22.9% per year).

In value terms, Uzbekistan ($X) emerged as the key foreign market for knitting machineses exports from Russia, comprising 44% of total exports. The second position in the ranking was held by Belarus ($X), with a 10% share of total exports. It was followed by Ukraine, with a 9.8% share.

From 2012 to 2021, the average annual growth rate of value to Uzbekistan amounted to +23.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (+5.7% per year) and Ukraine (+2.9% per year).

Export Prices by Country

The average knitting machines export price stood at $X per unit in 2021, which is down by -32.3% against the previous year. In general, the export price saw a abrupt curtailment. The pace of growth was the most pronounced in 2014 an increase of 93% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Ukraine ($X per unit), while the average price for exports to Armenia ($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 Lithuania (+61.8%), while the prices for the other major destinations experienced a decline.

Knitting Machines Imports

Imports into the Russian Federation

For the third year in a row, Russia recorded growth in overseas purchases of knitting machineses, which increased by 7.3% to X units in 2021. In general, imports, however, saw a deep slump. The pace of growth appeared the most rapid in 2017 when imports increased by 42% against the previous year. Imports peaked at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, knitting machines imports surged to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 76% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest knitting machines supplier to Russia, accounting for a 48% share of total imports. Moreover, knitting machines imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), twofold. Taiwan (Chinese) (X units) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -11.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+0.3% per year) and Taiwan (Chinese) (-5.3% per year).

In value terms, China ($X), Germany ($X) and Japan ($X) were the largest knitting machines suppliers to Russia, together comprising 80% of total imports. These countries were followed by Italy, Taiwan (Chinese), Armenia, Belarus, Vietnam and South Korea, which together accounted for a further 18%.

Armenia, with a CAGR of +509.2%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average knitting machines import price amounted to $X per unit, increasing by 23% against the previous year. In general, the import price continues to indicate prominent growth. The pace of growth was the most pronounced in 2016 when the average import price increased by 47%. The import price peaked at $X per unit in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per unit), while the price for Belarus ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Armenia (+41.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform