Singapore: Ski-Suit Market 2024

Ski-Suit Market Size in Singapore

In 2021, the Singaporean ski-suit market increased by 14% to $X, rising for the second consecutive year after four years of decline. Overall, consumption, however, continues to indicate a noticeable decline. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Ski-Suit Production in Singapore

In value terms, ski-suit production dropped to $X in 2021 estimated in export price. In general, production, however, saw a abrupt downturn. The growth pace was the most rapid in 2015 with an increase of 257%. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Ski-Suit Exports

Exports from Singapore

For the third consecutive year, Singapore recorded decline in overseas shipments of ski-suits (excluding of knitted or crocheted textiles), which decreased by -65.3% to X units in 2021. Over the period under review, exports showed a abrupt descent. The pace of growth was the most pronounced in 2018 with an increase of 263%. As a result, the exports reached the peak of X units. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, ski-suit exports reduced sharply to $X in 2021. In general, exports, however, showed modest growth. The most prominent rate of growth was recorded in 2018 when exports increased by 217%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The Dominican Republic (X units) was the main destination for ski-suit exports from Singapore, accounting for a 78% share of total exports. Moreover, ski-suit exports to the Dominican Republic exceeded the volume sent to the second major destination, Indonesia (X units), more than tenfold. Thailand (X units) ranked third in terms of total exports with a 3.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Dominican Republic stood at -8.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+8.8% per year) and Thailand (-15.0% per year).

In value terms, the largest markets for ski-suit exported from Singapore were the Dominican Republic ($X), Italy ($X) and Hong Kong SAR ($X), with a combined 64% share of total exports. India, Indonesia, Thailand and Maldives lagged somewhat behind, together comprising a further 16%.

Among the main countries of destination, Indonesia, with a CAGR of +16.2%, 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 2021, the average ski-suit export price amounted to $X per unit, surging by 103% against the previous year. Over the period under review, the export price recorded a resilient expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Italy ($X per unit), while the average price for exports to Maldives ($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 Italy (+24.3%), while the prices for the other major destinations experienced more modest paces of growth.

Ski-Suit Imports

Imports into Singapore

For the third year in a row, Singapore recorded growth in purchases abroad of ski-suits (excluding of knitted or crocheted textiles), which increased by 41% to X units in 2021. In general, imports continue to indicate a buoyant expansion. The growth pace was the most rapid in 2015 with an increase of 146% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in the immediate term.

In value terms, ski-suit imports skyrocketed to $X in 2021. Overall, imports, however, showed a noticeable contraction. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

India (X units), China (X units) and the UK (X units) were the main suppliers of ski-suit imports to Singapore, with a combined 93% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +19.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and the UK ($X) constituted the largest ski-suit suppliers to Singapore, with a combined 71% share of total imports.

China, with a CAGR of +6.5%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average ski-suit import price amounted to $X per unit, approximately mirroring the previous year. Overall, the import price continues to indicate a abrupt setback. The pace of growth was the most pronounced in 2014 when the average import price increased by 72%. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+25.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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