Slovakia: Sewing Machine Needle Market 2024

Sewing Machine Needle Market Size in Slovakia

In 2022, the Slovak sewing machine needle market decreased by -35.4% to $X, falling for the second year in a row after two years of growth. In general, consumption saw a drastic downturn. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Sewing Machine Needle Exports

Exports from Slovakia

In 2022, shipments abroad of sewing machine needles decreased by -40.5% to X units, falling for the second year in a row after six years of growth. Overall, exports, however, recorded significant growth. The growth pace was the most rapid in 2013 with an increase of 322% against the previous year. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, sewing machine needle exports contracted sharply to $X in 2022. Over the period under review, exports, however, showed a strong increase. The most prominent rate of growth was recorded in 2017 with an increase of 287%. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Tunisia (X units), Morocco (X units) and the Czech Republic (X units) were the main destinations of sewing machine needle exports from Slovakia, together comprising 97% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Tunisia (with a CAGR of +103.4%), while the other leaders experienced more modest paces of growth.

In value terms, Tunisia ($X) emerged as the key foreign market for sewing machine needles exports from Slovakia, comprising 61% of total exports. The second position in the ranking was held by Morocco ($X), with a 23% share of total exports. It was followed by the Czech Republic, with a 16% share.

From 2012 to 2022, the average annual growth rate of value to Tunisia amounted to +101.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Morocco (+27.3% per year) and the Czech Republic (-9.8% per year).

Export Prices by Country

In 2022, the average sewing machine needle export price amounted to $X per thousand units, surging by 19% against the previous year. In general, the export price, however, continues to indicate a pronounced decrease. The pace of growth appeared the most rapid in 2017 when the average export price increased by 95%. The export price peaked at $X per thousand units in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Tunisia ($X per thousand units), while the average price for exports to Poland ($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 Morocco (+1.3%), while the prices for the other major destinations experienced mixed trend patterns.

Sewing Machine Needle Imports

Imports into Slovakia

In 2022, purchases abroad of sewing machine needles decreased by -38.5% to X units, falling for the second consecutive year after two years of growth. Over the period under review, imports saw a abrupt decrease. The most prominent rate of growth was recorded in 2015 when imports increased by 112%. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, sewing machine needle imports declined markedly to $X in 2022. In general, imports saw a deep contraction. The most prominent rate of growth was recorded in 2020 with an increase of 21%. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), the Czech Republic (X units) and India (X units) were the main suppliers of sewing machine needle imports to Slovakia, with a combined 66% share of total imports. Poland, Germany, Hungary, Vietnam and Italy lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +34.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and the Czech Republic ($X) constituted the largest sewing machine needle suppliers to Slovakia, together comprising 70% of total imports.

In terms of the main suppliers, China, with a CAGR of +33.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average sewing machine needle import price amounted to $X per thousand units, with an increase of 21% against the previous year. Overall, the import price continues to indicate perceptible growth. The most prominent rate of growth was recorded in 2013 an increase of 229%. As a result, import price attained the peak level of $X per thousand units. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per thousand units), while the price for Poland ($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 China (+14.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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