China Household Sewing Machine Exports
In June 2023, the amount of household sewing machines exported from China fell to 713K units, dropping by -10.7% against the month before. In general, exports showed a perceptible setback. The most prominent rate of growth was recorded in March 2023 with an increase of 120% month-to-month. The exports peaked at 987K units in June 2022; however, from July 2022 to June 2023, the exports stood at a somewhat lower figure.
In value terms, household sewing machine exports soared to $24M (IndexBox estimates) in June 2023. Overall, total exports indicated a slight increase from June 2022 to June 2023: its value increased at an average monthly rate of +1.8% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on June 2023 figures, exports decreased by -17.2% against March 2023 indices. The pace of growth appeared the most rapid in March 2023 when exports increased by 133% month-to-month. As a result, the exports attained the peak of $29M. From April 2023 to June 2023, the growth of the exports remained at a somewhat lower figure.
Exports by Country
The United States (83K units), Indonesia (47K units) and Australia (30K units) were the main destinations of household sewing machine exports from China, together comprising 22% of total exports.
From June 2022 to June 2023, the biggest increases were in the United States (with a CAGR of +9.0%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, the United States ($2M) remains the key foreign market for household sewing machine exports from China, comprising 8.4% of total exports. The second position in the ranking was taken by Nigeria ($856K), with a 3.5% share of total exports. It was followed by Indonesia, with a 2.4% share.
From June 2022 to June 2023, the average monthly rate of growth in terms of value to the United States totaled -1.3%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Nigeria (-3.5% per month) and Indonesia (-0.8% per month).
Export Prices by Country
In June 2023, the household sewing machine price amounted to $34.2 per unit (FOB, China), jumping by 41% against the previous month. Over the period under review, export price indicated a notable expansion from June 2022 to June 2023: its price increased at an average monthly rate of +4.6% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on June 2023 figures, household sewing machine export price decreased by -13.7% against March 2023 indices. The growth pace was the most rapid in July 2022 when the average export price increased by 103% against the previous month. As a result, the export price attained the peak level of $40,244 per thousand units. From August 2022 to June 2023, the the average export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Russia ($63.2 per unit), while the average price for exports to India ($10.1 per unit) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.
