Leather Apparel Market Overview in Estonia
Market Overview
In 2019, the Estonian leather apparel market was finally on the rise to reach $
for the first time since 2016, thus ending a two-year declining trend. Overall, consumption, however, showed a perceptible slump. The pace of growth was the most pronounced in 2012 with an increase of % year-to-year. Over the period under review, the market attained the peak level at $ in 2013; however, from 2014 to 2019, consumption stood at a somewhat lower figure.
In value terms, leather apparel production declined markedly to $ in 2019 estimated in export prices. Over the period under review, production saw a sharp shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of % against the previous year. Over the period under review, production hit record highs at $ in 2007; however, from 2008 to 2019, production stood at a somewhat lower figure.
for the first time since 2016, thus ending a two-year declining trend. Overall, consumption, however, showed a perceptible slump. The pace of growth was the most pronounced in 2012 with an increase of % year-to-year. Over the period under review, the market attained the peak level at $ in 2013; however, from 2014 to 2019, consumption stood at a somewhat lower figure.In value terms, leather apparel production declined markedly to $
in 2019 estimated in export prices. Over the period under review, production saw a sharp shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of % against the previous year. Over the period under review, production hit record highs at $ in 2007; however, from 2008 to 2019, production stood at a somewhat lower figure.Consumption
In 2019, consumption of apparel of leather or of composition leather increased by % to units, rising for the third consecutive year after three years of decline. Overall, consumption, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2012 with an increase of % y-o-y. Over the period under review, consumption hit record highs at units in 2013; however, from 2014 to 2019, consumption failed to regain the momentum.
The value of the leather apparel market in Estonia stood at $ in 2019, stabilizing at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, recorded a pronounced descent. The most prominent rate of growth was recorded in 2012 with an increase of % against the previous year. Leather apparel consumption peaked at $ in 2013; however, from 2014 to 2019, consumption remained at a lower figure.
% to units, rising for the third consecutive year after three years of decline. Overall, consumption, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2012 with an increase of % y-o-y. Over the period under review, consumption hit record highs at units in 2013; however, from 2014 to 2019, consumption failed to regain the momentum.The value of the leather apparel market in Estonia stood at $
in 2019, stabilizing at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, recorded a pronounced descent. The most prominent rate of growth was recorded in 2012 with an increase of % against the previous year. Leather apparel consumption peaked at $ in 2013; however, from 2014 to 2019, consumption remained at a lower figure.Market Forecast
Depressed by shrinking demand for leather apparel in Estonia, the market is expected to continue its downward consumption trend over the next decade. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from 2019 to , which is projected to depress the market volume to units by the end of .
% for the period from 2019 to , which is projected to depress the market volume to units by the end of .Market Structure
Leather apparel market in Estonia consists almost entirely of imported products.
Trade Balance
Estonia remains a net importer of leather apparel; in physical and value terms, imports consistently exceeded exports from 2007 to 2019. In 2019, there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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