Singapore: Hand-Made Lace Market 2024

Hand-Made Lace Market Size in Singapore

The Singaporean hand-made lace market rose slightly to $X in 2022, surging by 3% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Hand-Made Lace Production in Singapore

In value terms, hand-made lace production totaled $X in 2022 estimated in export price. In general, production, however, continues to indicate a dramatic decrease. The pace of growth appeared the most rapid in 2018 with an increase of 603%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Hand-Made Lace Exports

Exports from Singapore

After two years of growth, shipments abroad of hand-made lace in the piece, in strips or in motifs decreased by -11.3% to X tons in 2022. Over the period under review, exports saw a deep contraction. The growth pace was the most rapid in 2018 when exports increased by 203% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, hand-made lace exports skyrocketed to $X in 2022. In general, exports saw a deep contraction. The most prominent rate of growth was recorded in 2018 with an increase of 185% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Indonesia (X tons) was the main destination for hand-made lace exports from Singapore, with a 73% share of total exports. Moreover, hand-made lace exports to Indonesia exceeded the volume sent to the second major destination, Canada (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Indonesia stood at -14.9%.

In value terms, Indonesia ($X) remains the key foreign market for hand-made lace in the piece, in strips or in motifs exports from Singapore, comprising 73% of total exports. The second position in the ranking was held by Canada ($X), with a 27% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Indonesia stood at -18.0%.

Export Prices by Country

The average hand-made lace export price stood at $X per ton in 2022, growing by 44% against the previous year. In general, the export price, however, showed a pronounced curtailment. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Canada stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (+33.0%), while the prices for the other major destinations experienced a decline.

Hand-Made Lace Imports

Imports into Singapore

In 2022, approx. X tons of hand-made lace in the piece, in strips or in motifs were imported into Singapore; reducing by -59.4% on the previous year. Over the period under review, imports saw a abrupt decline. The pace of growth appeared the most rapid in 2016 with an increase of 239%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, hand-made lace imports reduced sharply to $X in 2022. Overall, imports faced a sharp decrease. The most prominent rate of growth was recorded in 2016 when imports increased by 167% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Myanmar (X kg), India (X kg) and China (X kg) were the main suppliers of hand-made lace imports to Singapore, together accounting for 70% of total imports. Italy, France, Malaysia, Spain and Hong Kong SAR lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +47.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hand-made lace suppliers to Singapore were Myanmar ($X), India ($X) and China ($X), with a combined 70% share of total imports. Italy, France, Malaysia, Spain and Hong Kong SAR lagged somewhat behind, together comprising a further 27%.

Italy, with a CAGR of +43.7%, saw the highest rates of growth with regard to 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

The average hand-made lace import price stood at $X per ton in 2022, reducing by -6.9% against the previous year. In general, the import price showed a slight downturn. The growth pace was the most rapid in 2014 an increase of 55%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Malaysia ($X per ton) and France ($X per ton), while the price for Spain ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (+3.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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