Slovakia: Umbrella Market 2024

Umbrella Market Size in Slovakia

The Slovak umbrella market contracted to $X in 2022, with a decrease of -4.1% against the previous year. Overall, consumption saw a perceptible decrease. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Umbrella Production in Slovakia

In value terms, umbrella production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2014 when the production volume increased by 58%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Umbrella Exports

Exports from Slovakia

Umbrella exports from Slovakia skyrocketed to X units in 2022, with an increase of 22% on 2021. In general, exports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 42% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, umbrella exports fell to $X in 2022. Over the period under review, total exports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.4% 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 +30.1% against 2016 indices. The pace of growth was the most pronounced in 2021 with an increase of 67%. As a result, the exports reached the peak of $X, and then declined in the following year.

Exports by Country

Austria (X units), Poland (X units) and the Czech Republic (X units) were the main destinations of umbrella exports from Slovakia, with a combined 66% share of total exports. Hungary, Croatia, Romania and Italy lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +127.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Austria ($X) remains the key foreign market for umbrellas exports from Slovakia, comprising 20% of total exports. The second position in the ranking was held by the Czech Republic ($X), with a 7.3% share of total exports. It was followed by Hungary, with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Austria amounted to -3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (-7.1% per year) and Hungary (+5.5% per year).

Export Prices by Country

In 2022, the average umbrella export price amounted to $X per unit, shrinking by -27.1% against the previous year. In general, the export price continues to indicate a abrupt slump. The pace of growth was the most pronounced in 2020 an increase of 41% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Austria ($X per unit), while the average price for exports to Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (-2.8%), while the prices for the other major destinations experienced a decline.

Umbrella Imports

Imports into Slovakia

In 2022, purchases abroad of umbrellas increased by 20% to X units, rising for the second consecutive year after three years of decline. Over the period under review, total imports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +41.7% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of 48%. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, umbrella imports soared to $X in 2022. Overall, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +50.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 25% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest umbrella supplier to Slovakia, accounting for a 73% share of total imports. Moreover, umbrella imports from China exceeded the figures recorded by the second-largest supplier, Poland (X units), more than tenfold. Germany (X units) ranked third in terms of total imports with a 3.9% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+38.5% per year) and Germany (+9.6% per year).

In value terms, China ($X) constituted the largest supplier of umbrellas to Slovakia, comprising 64% of total imports. The second position in the ranking was held by Poland ($X), with a 9.3% share of total imports. It was followed by the Czech Republic, with a 6.8% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+21.9% per year) and the Czech Republic (+6.2% per year).

Import Prices by Country

In 2022, the average umbrella import price amounted to $X per unit, remaining stable against the previous year. Over the period under review, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, umbrella import price increased by +67.2% against 2017 indices. The pace of growth was the most pronounced in 2018 when the average import price increased by 51% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2021, and then dropped modestly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per unit), while the price for Cambodia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform