Russian Federation: Sewing Machine Needle Market 2024

Sewing Machine Needle Market Size in the Russian Federation

In 2022, the Russian sewing machine needle market decreased by -38.9% to $X for the first time since 2018, thus ending a three-year rising trend. Overall, consumption showed a perceptible decline. As a result, consumption attained the peak level of $X, and then reduced remarkably in the following year.

Sewing Machine Needle Exports

Exports from the Russian Federation

Sewing machine needle exports from Russia surged to X units in 2022, increasing by 34% against the previous year. Overall, exports saw a significant increase. The pace of growth appeared the most rapid in 2019 when exports increased by 215% against the previous year. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, sewing machine needle exports shrank to $X in 2022. In general, exports showed a remarkable increase. The most prominent rate of growth was recorded in 2015 when exports increased by 98% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then contracted in the following year.

Exports by Country

Belarus (X units) was the main destination for sewing machine needle exports from Russia, accounting for a 75% share of total exports. Moreover, sewing machine needle exports to Belarus exceeded the volume sent to the second major destination, Kazakhstan (X units), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Belarus amounted to +38.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (+88.2% per year) and Ukraine (+14.4% per year).

In value terms, Kazakhstan ($X), Belarus ($X) and Ukraine ($X) were the largest markets for sewing machine needle exported from Russia worldwide, together accounting for 94% of total exports.

In terms of the main countries of destination, Kazakhstan, with a CAGR of +53.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average sewing machine needle export price amounted to $X per thousand units, falling by -34.3% against the previous year. Overall, the export price showed a abrupt contraction. The most prominent rate of growth was recorded in 2020 when the average export price increased by 138%. Over the period under review, the average export prices hit record highs at $X per thousand units in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ukraine ($X per thousand units), while the average price for exports to Belarus ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+25.2%), while the prices for the other major destinations experienced more modest paces of growth.

Sewing Machine Needle Imports

Imports into the Russian Federation

In 2022, approx. X units of sewing machine needles were imported into Russia; with a decrease of -45.8% compared with 2021 figures. In general, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 103%. As a result, imports attained the peak of X units, and then declined sharply in the following year.

In value terms, sewing machine needle imports declined to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 44% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then dropped in the following year.

Imports by Country

China (X units), Poland (X units) and India (X units) were the main suppliers of sewing machine needle imports to Russia, together accounting for 54% of total imports. Lithuania, Turkey and Hong Kong SAR lagged somewhat behind, together accounting for a further 3.6%.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of +35.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X) constituted the largest supplier of sewing machine needles to Russia, comprising 32% of total imports. The second position in the ranking was taken by China ($X), with a 6.1% share of total imports. It was followed by Lithuania, with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Poland amounted to +19.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+5.4% per year) and Lithuania (+35.6% per year).

Import Prices by Country

The average sewing machine needle import price stood at $X per thousand units in 2022, rising by 68% against the previous year. Overall, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Lithuania ($X per thousand units), while the price for China ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+15.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :