Price for Textiles; Worn Clothing and Other Worn Articles in Singapore - 2023
Contents:
- Price for Textiles; Worn Clothing and Other Worn Articles in Singapore (FOB) - 2022
- Price for Textiles; Worn Clothing and Other Worn Articles in Singapore (CIF) - 2022
- Exports of Textiles; Worn Clothing and Other Worn Articles in Singapore
- Imports of Textiles; Worn Clothing and Other Worn Articles in Singapore
Price for Textiles; Worn Clothing and Other Worn Articles in Singapore (FOB) - 2022
In 2022, the average export price for textiles; worn clothing and other worn articleses amounted to $1,300 per ton, reducing by -12.5% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average export price increased by 35%. The export price peaked at $1,486 per ton in 2021, and then shrank in the following year.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Timor-Leste ($1,703 per ton), while the average price for exports to Cambodia ($561 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Madagascar (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Textiles; Worn Clothing and Other Worn Articles in Singapore (CIF) - 2022
The average import price for textiles; worn clothing and other worn articleses stood at $1,456 per ton in 2022, rising by 1.6% against the previous year. Over the period under review, import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for textiles; worn clothing and other worn articleses increased by +69.7% against 2016 indices. The growth pace was the most rapid in 2020 an increase of 27%. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the near future.
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 Japan ($1,934 per ton), while the price for South Korea ($868 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Textiles; Worn Clothing and Other Worn Articles in Singapore
For the third consecutive year, Singapore recorded decline in shipments abroad of textiles; worn clothing and other worn articleses, which decreased by -18.6% to 7.5K tons in 2022. In general, exports recorded a abrupt downturn. The smallest decline of -0.5% was in 2021.
In value terms, exports of textiles; worn clothing and other worn articleses reduced notably to $9.7M in 2022. Over the period under review, exports showed a deep slump. The most prominent rate of growth was recorded in 2021 when exports increased by 19% against the previous year.
| Export of Textiles; Worn Clothing and Other Worn Articles in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 5.1 | 4.0 | 4.5 | 3.2 | -14.4% |
| Timor-Leste | 2.7 | 2.8 | 2.7 | 2.1 | -8.0% |
| Indonesia | 2.2 | 0.9 | 2.6 | 2.0 | -3.1% |
| United Arab Emirates | 0.6 | 1.0 | 1.1 | 0.5 | -5.9% |
| Philippines | 0.6 | 1.0 | 0.8 | 0.5 | -5.9% |
| Nigeria | 0.3 | 0.5 | 0.3 | 0.3 | 0.0% |
| Bangladesh | 0.1 | 0.1 | N/A | 0.2 | 26.0% |
| Benin | 1.0 | 0.2 | 0.1 | 0.2 | -41.5% |
| Cambodia | 0.2 | 0.3 | 0.1 | 0.1 | -20.6% |
| Pakistan | 0.2 | 0.1 | N/A | N/A | -50.0% |
| Others | 1.3 | 0.7 | 1.3 | 0.5 | -27.3% |
| Total | 14.3 | 11.4 | 13.6 | 9.7 | -12.1% |
Top Export Markets for Textiles; Worn Clothing and Other Worn Articles from Singapore in 2022:
- Malaysia (2385.3 tons)
- Timor-Leste (1260.7 tons)
- Indonesia (1243.4 tons)
- Philippines (770.3 tons)
- United Arab Emirates (710.7 tons)
- Nigeria (354.8 tons)
- Cambodia (168.4 tons)
- Bangladesh (166.6 tons)
- Benin (122.4 tons)
- Pakistan (47.5 tons)
Imports of Textiles; Worn Clothing and Other Worn Articles in Singapore
In 2022, the amount of textiles; worn clothing and other worn articleses imported into Singapore dropped sharply to 5.2K tons, declining by -32.9% compared with 2021 figures. Over the period under review, imports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2021 when imports increased by 66%.
In value terms, imports of textiles; worn clothing and other worn articleses declined markedly to $7.6M in 2022. Overall, imports recorded a perceptible decline. The most prominent rate of growth was recorded in 2021 with an increase of 82% against the previous year. As a result, imports attained the peak of $11M, and then reduced dramatically in the following year.
| Import of Textiles; Worn Clothing and Other Worn Articles in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 2.1 | 0.7 | 4.1 | 3.2 | 15.1% |
| Malaysia | 2.4 | 1.6 | 3.1 | 1.9 | -7.5% |
| Taiwan (Chinese) | 1.9 | 1.0 | 1.3 | 0.9 | -22.0% |
| Italy | 0.2 | 0.4 | 0.6 | 0.3 | 14.5% |
| United States | 0.2 | 0.3 | 0.2 | 0.3 | 14.5% |
| South Korea | 0.9 | 0.4 | 0.3 | 0.1 | -51.9% |
| Others | 1.1 | 1.7 | 1.6 | 0.9 | -6.5% |
| Total | 8.8 | 6.1 | 11.1 | 7.6 | -4.8% |
Top Suppliers of Textiles; Worn Clothing and Other Worn Articles to Singapore in 2022:
- China (1964.5 tons)
- Malaysia (1612.6 tons)
- Taiwan (Chinese) (997.3 tons)
- United States (160.0 tons)
- South Korea (129.1 tons)
- Italy (71.7 tons)
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