Cyprus: Hat Market 2020

Hat Market Size in Cyprus

The revenue of the hat market in Cyprus amounted to $X in 2018, growing by X% against the previous year. Overall, hat consumption, however, continues to indicate a mild contraction. The pace of growth appeared the most rapid in 2013 with an increase of X% y-o-y. In that year, the hat market reached its peak level of $X. From 2014 to 2018, the growth of the hat market failed to regain its momentum.

Hat Production in Cyprus

In value terms, hat production stood at $X in 2018 estimated in export prices. In general, hat production continues to indicate a deep deduction. The pace of growth was the most pronounced in 2014 with a decrease of -X% year-to-year. Cyprus hat production peaked at $X in 2007; however, from 2008 to 2018, production remained at a lower figure.

Hat Exports

Exports from Cyprus

In 2018, approx. X units of hats and other headgear were exported from Cyprus; reducing by -X% against the previous year. Over the period under review, hat exports continue to indicate an abrupt shrinkage. The most prominent rate of growth was recorded in 2012 when exports increased by X% year-to-year. Over the period under review, hat exports reached their peak figure at X units in 2016; however, from 2017 to 2018, exports stood at a somewhat lower figure.

In value terms, hat exports amounted to $X in 2018. In general, hat exports continue to indicate a strong increase. The pace of growth was the most pronounced in 2018 with an increase of X% year-to-year. Cyprus exports peaked at $X in 2016; however, from 2017 to 2018, exports remained at a lower figure.

Exports by Country

China prevails in hat exports structure, accounting for X units, which was near X% of total exports in 2018. Vietnam (X units), Bangladesh (X units), the Netherlands (X units) and Germany (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the hats and other headgear exports, with a CAGR of +X% from 2007 to 2018. At the same time, the Netherlands (+X%), Vietnam (+X%), Germany (+X%) and Bangladesh (+X%) displayed positive paces of growth. While the share of China (+X p.p.), Vietnam (+X p.p.) and the Netherlands (+X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest hat supplier from Cyprus, comprising X% of global exports. The second position in the ranking was occupied by Vietnam ($X), with a X% share of global exports. It was followed by Bangladesh, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value in China amounted to +X%. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+X% per year) and Bangladesh (+X% per year).

Export Prices by Country

In 2018, the hat export price in Cyprus amounted to $X per unit, growing by X% against the previous year. Over the period under review, the hat export price continues to indicate a strong expansion. The pace of growth appeared the most rapid in 2018 an increase of X% year-to-year. In that year, the export prices for hats and other headgear attained their peak level and is likely to continue its growth in the immediate term.

Prices varied noticeably by the country of origin; the country with the highest price was Germany ($X per unit), while China ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Bangladesh, while the other leaders experienced mixed trends in the export price figures.

Hat Imports

Imports into Cyprus

Hat imports into Cyprus totaled X units in 2018, jumping by X% against the previous year. Over the period under review, hat imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2008 with an increase of X% y-o-y. In that year, hat imports attained their peak of X units. From 2009 to 2018, the growth of hat imports remained at a somewhat lower figure.

In value terms, hat imports totaled $X in 2018. Overall, hat imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 when imports increased by X% against the previous year. In that year, hat imports reached their peak of $X. From 2009 to 2018, the growth of hat imports remained at a somewhat lower figure.

Imports by Country

In 2018, the U.S. (X units) represented the largest importer of hats and other headgear, committing X% of total imports. The UK (X units) held the second position in the ranking, followed by Germany (X units) and Japan (X units). All these countries together took near X% share of total imports. The following importers - France (X units), Mexico (X units), the Netherlands (X units), Spain (X units), South Africa (X units), South Korea (X units), Belgium (X units) and Australia (X units) - together made up X% of total imports.

Imports into the U.S. decreased at an average annual rate of -X% from 2007 to 2018. At the same time, Mexico (+X%), the Netherlands (+X%), South Korea (+X%), the UK (+X%), South Africa (+X%), Germany (+X%), Japan (+X%), Belgium (+X%) and France (+X%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. By contrast, Australia (-X%) and Spain (-X%) illustrated a downward trend over the same period. From 2007 to 2018, the share of Mexico, the UK and the Netherlands increased by +X%, +X% and +X% percentage points, while the U.S. (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($X) constitutes the largest market for imported hats and other headgear into Cyprus, comprising X% of global imports. The second position in the ranking was occupied by Japan ($X), with a X% share of global imports. It was followed by Germany, with a X% share.

From 2007 to 2018, the average annual growth rate of value in the U.S. amounted to +X%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (+X% per year) and Germany (+X% per year).

Import Prices by Country

The hat import price in Cyprus stood at $X per unit in 2018, falling by -X% against the previous year. In general, the hat import price continues to indicate a mild setback. The most prominent rate of growth was recorded in 2017 when the import price increased by X% y-o-y. Cyprus import price peaked at $X per unit in 2013; however, from 2014 to 2018, import prices failed to regain their momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Japan ($X per unit), while South Africa ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Australia, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform