Updated Jan 16, 2023 12:29

Blanket Market in Cuba

Market Overview
The Cuban blanket market declined to $ in , reducing by -% against 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). Overall, consumption showed a perceptible descent. Blanket consumption peaked at $ in 2007; however, from 2008 to , consumption remained at a lower figure.

In value terms, blanket production contracted to $ in estimated in export price. In general, production saw a pronounced setback. The most prominent rate of growth was recorded in 2012 when the production volume increased by %. Blanket production peaked at $ in 2007; however, from 2008 to , production failed to regain momentum.


Consumption
In , approx. units of blankets and traveling rugs (except electric blankets) were consumed in Cuba; waning by -% against figures. Over the period under review, consumption showed a relatively flat trend pattern. Blanket consumption peaked at units in 2019; however, from to , consumption failed to regain momentum.

The revenue of the blanket market in Cuba fell to $ in , waning by -% against 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). Overall, consumption saw a noticeable descent. Over the period under review, the market reached the peak level at $ in 2007; however, from 2008 to , consumption failed to regain momentum.


Market Forecast
Driven by rising demand for blanket in Cuba, the market is expected to start an upward consumption trend over the next eight years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to units by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Over the period under review, the share of imports in terms of total blanket consumption in Cuba was relatively small in physical terms, fluctuating under an % figure. In value terms the share of imports also stood at a low figure, which means that the Cuba blanket market is largely supplied by domestic manufacturers. The growth in the share of Cuba imports of in the blanket market structure from % in 2007 to % in is explained by a more substantial reduction in output, compared with a decrease in imports. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Cuba remains a net importer of blanket; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of units, which was equal to $.