Singapore: Women Hosiery Market 2024

Women Hosiery Market Size in Singapore

In 2022, the Singaporean women hosiery market increased by 11% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +4.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Women Hosiery Production in Singapore

In value terms, women hosiery production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production enjoyed resilient growth. The growth pace was the most rapid in 2014 when the production volume increased by 275%. Women hosiery production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Women Hosiery Exports

Exports from Singapore

In 2022, overseas shipments of socks, stockings and other women's hosiery increased by 22% to X pairs, rising for the second year in a row after two years of decline. Overall, exports, however, saw a noticeable curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 42% against the previous year. Over the period under review, the exports attained the maximum at X pairs in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, women hosiery exports skyrocketed to $X in 2022. Over the period under review, total exports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +139.6% against 2016 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Malaysia (X pairs) was the main destination for women hosiery exports from Singapore, accounting for a 24% share of total exports. Moreover, women hosiery exports to Malaysia exceeded the volume sent to the second major destination, the United Arab Emirates (X pairs), threefold. The third position in this ranking was held by the Philippines (X pairs), with a 7.5% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia totaled +7.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+69.1% per year) and the Philippines (+39.5% per year).

In value terms, the largest markets for women hosiery exported from Singapore were China ($X), Malaysia ($X) and the United Arab Emirates ($X), together accounting for 44% of total exports.

China, with a CAGR of +109.0%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average women hosiery export price stood at $X per pair in 2022, growing by 12% against the previous year. Over the period under review, the export price posted strong growth. The most prominent rate of growth was recorded in 2019 an increase of 39% against the previous year. The export price peaked at $X per pair in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+20.3%), while the prices for the other major destinations experienced more modest paces of growth.

Women Hosiery Imports

Imports into Singapore

In 2022, approx. X pairs of socks, stockings and other women's hosiery were imported into Singapore; jumping by 44% against the previous year. Overall, imports, however, recorded a slight setback. Imports peaked at X pairs in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, women hosiery imports surged to $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 25% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X pairs) constituted the largest supplier of women hosiery to Singapore, with a 57% share of total imports. Moreover, women hosiery imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X pairs), sevenfold. Turkey (X pairs) ranked third in terms of total imports with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+45.0% per year) and Turkey (+10.7% per year).

In value terms, China ($X) constituted the largest supplier of socks, stockings and other women's hosiery to Singapore, comprising 50% of total imports. The second position in the ranking was taken by Vietnam ($X), with an 8.1% share of total imports. It was followed by Turkey, with a 5.5% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+44.5% per year) and Turkey (+10.8% per year).

Import Prices by Country

In 2022, the average women hosiery import price amounted to $X per pair, which is down by -14.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2014 an increase of 26%. Over the period under review, average import prices reached the peak figure at $X per pair in 2021, and then declined in the following year.

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 Italy ($X per pair), while the price for Indonesia ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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