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The 2011 Import and Export Market for Leather Apparel and Clothing Accessories in Cyprus

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On the demand side, exporters and strategic planners focusing on leather apparel and clothing accessories in Cyprus face a number of questions. Which countries are supplying leather apparel and clothing accessories to Cyprus? How important is Cyprus compared to others in terms of the entire global and regional market? How much do the imports of leather apparel and clothing accessories vary from one country of origin to another in Cyprus? On the supply side, Cyprus also exports leather apparel and clothing accessories. Which countries receive the most exports from Cyprus? How are these exports concentrated across buyers? What is the value of these exports and which countries are the largest buyers? This report was created for strategic planners, international marketing executives and import/export managers who are concerned with the market for leather apparel and clothing accessories in Cyprus. With the globalization of this market, managers can no longer be contented with a local view. Nor can managers be contented with out-of-date statistics which appear several years after the fact. I have developed a methodology, based on macroeconomic and trade models, to estimate the market for leather apparel and clothing accessories for those countries serving Cyprus via exports, or supplying from Cyprus via imports. It does so for the current year based on a variety of key historical indicators and econometric models. In what follows, Chapter 2 begins by summarizing where Cyprus fits into the world market for imported and exported leather apparel and clothing accessories. The total level of imports and exports on a worldwide basis, and those for Cyprus in particular, is estimated using a model which aggregates across over 150 key country markets and projects these to the current year. From there, each country represents a percent of the world market. This market is served from a number of competitive countries of origin. Based on both demand- and supply-

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									   The 2011 Import and Export
   Market for Leather Apparel
   and Clothing Accessories in
             Cyprus




                                         By
                         Professor Philip M. Parker, Ph. D.
                      Chaired Professor of Management Science
                    INSEAD (Singapore & Fontainebleau, France)




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                                                                                              iii


                                About the Author
Dr. Philip M. Parker is the Eli Lilly Chaired Professor of Innovation, Business and Society at
INSEAD where he has taught courses on multivariate statistics and global competitive strategy
since 1988. He has also taught courses at MIT, Stanford University, Harvard University, UCLA,
UCSD, and the Hong Kong University of Science and Technology. He is the author of six books
on the economic convergence of nations. These books introduce the notion of “physioeconomics”
which foresees a lack of global convergence in economic behaviors due to physiological and
physiographic forces. His latest book is "Physioeconomics: The Basis for Long-Run Economic
Growth" (MIT Press 2000). He has also published numerous articles in academic journals,
including The Rand Journal of Economics, Marketing Science, the Journal of International
Business Studies, Technological Forecasting and Social Change, International Journal of
Forecasting, the European Management Journal, the European Journal of Operational
Research, Journal of Marketing, International Journal of Research in Marketing, and Journal of
Marketing Research. He is also on the editorial boards of several academic journals.

Dr. Parker received his Ph.D. in Business Economics from the Wharton School of the University
of Pennsylvania and has Masters degrees in Finance and Banking (University of Aix-Marseille)
and Managerial Economics (Wharton). His undergraduate degrees are in mathematics, biology
and economics (minor in aeronautical engineering). He has consulted and/or taught courses in
Africa, the Middle East, Asia, Latin America, North America and Europe.



                                 About this Series
This series was created for international firms who rely on foreign export markets for a
substantial portion of their business or who might be threatened by foreign trade competition.
The estimates given in this report were created using a methodology developed by and under the
direct supervision of Professor Philip M. Parker, the Eli Lilly Chaired Professor of Innovation,
Business and Society, at INSEAD. The methodology, relying on historical figures of economic
growth and trade flows, estimates the market shares of some 150 countries for over 500 industrial
or product categories. The figures should be seen as market estimates, as opposed to historical
records, as these are projected for the current year of trade.



                               Acknowledgements
Some of the methodologies and research approaches used in this report have benefited from the
R&D Committee at INSEAD, whose research support is gratefully acknowledged. Additional
editorial assistance from Tiffany LaRochelle, ICON Group International, Inc., is also
acknowledged.



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                                                                                                   iv


                           About ICON Group Ltd.
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                                                           Contents        v


Table of Contents
1     INTRODUCTION AND METHODOLOGY                                     6
2     CYPRUS AND THE WORLD MARKET                                      8
    2.1    Imports in Cyprus in 2011                                   8
    2.2    Exports from Cyprus in 2011                                 8
3     IMPORTS IN CYPRUS                                                9
    3.1      Europe                                                    9
       3.1.1   Greece                                                  9
       3.1.2   Spain                                                  10
       3.1.3   Switzerland                                            11
       3.1.4   the United Kingdom                                     12
4     EXPORTS FROM CYPRUS                                             13
    4.1      Europe                                                   13
       4.1.1   Greece                                                 13
       4.1.2   Spain                                                  14
5     DISCLAIMERS, WARRANTEES, AND USER AGREEMENT PROVISIONS          15
    5.1    Disclaimers & Safe Harbor                                  15
    5.2    ICON Group Ltd. User Agreement Provisions                  16




www.icongrouponline.com                                ©2011 ICON Group Ltd.
                                         Leather Apparel and Clothing Accessories in Cyprus     6


1      INTRODUCTION AND METHODOLOGY
On the demand side, exporters and strategic planners focusing on leather apparel and clothing
accessories in Cyprus face a number of questions. Which countries are supplying leather apparel
and clothing accessories to Cyprus? How important is Cyprus compared to others in terms of the
entire global and regional market? How much do the imports of leather apparel and clothing
accessories vary from one country of origin to another in Cyprus? On the supply side, Cyprus
also exports leather apparel and clothing accessories. Which countries receive the most exports
from Cyprus? How are these exports concentrated across buyers? What is the value of these
exports and which countries are the largest buyers?

This report was created for strategic planners, international marketing executives and
import/export managers who are concerned with the market for leather apparel and clothing
accessories in Cyprus. With the globalization of this market, managers can no longer be
contented with a local view. Nor can managers be contented with out-of-date statistics which
appear several years after the fact. I have developed a methodology, based on macroeconomic
and trade models, to estimate the market for leather apparel and clothing accessories for those
countries serving Cyprus via exports, or supplying from Cyprus via imports. It does so for the
current year based on a variety of key historical indicators and econometric models.

In what follows, Chapter 2 begins by summarizing where Cyprus fits into the world market for
imported and exported leather apparel and clothing accessories. The total level of imports and
exports on a worldwide basis, and those for Cyprus in particular, is estimated using a model
which aggregates across over 150 key country markets and projects these to the current year.
From there, each country represents a percent of the world market. This market is served from a
number of competitive countries of origin. Based on both demand- and supply-side dynamics,
market shares by country of origin are then calculated across each country market destination.
These shares lead to a volume of import and export values for each country and are aggregated to
regional and world totals. In doing so, we are able to obtain maximum likelihood estimates of
both the value of each market and the share that Cyprus is likely to receive this year. From these
figures, rankings are calculated to allow managers to prioritize Cyprus compared to other major
country markets. In this way, all the figures provided in this report are forecasts that can be
combined with internal information sources for strategic planning purposes.

After the worldwide summary in Chapter 2 of both imports and exports of leather apparel and
clothing accessories, Chapter 3 goes into detail on imports, but for each major country of origin
serving Cyprus. A “major” market is defined as a country where Cyprus represents a
substantially large share of either imports or exports. For each major country exporting to
Cyprus, one can thus observe how important Cyprus is to that exporting country compared to
other countries of the world. Chapter 4 does the same, but for exports of leather apparel and
clothing accessories originating from Cyprus, for each major country of destination. In doing so,
one can discover the share that Cyprus has in each major market; this share value is often used as
a measure of competitiveness for Cyprus. In all cases, the total dollar volume and percentage


www.icongrouponline.com                                                      ©2011 ICON Group Ltd.
                                           Leather Apparel and Clothing Accessories in Cyprus       7

share values by major trading partner are provided. Combined, Chapters 3 and 4 present a the
total picture for imports and exports of leather apparel and clothing accessories to and from
Cyprus to and from all other major countries in the world. "Leather Apparel and Clothing
Accessories" as a category is defined in this report following the definition given by the United
Nations Statistics Division Classification Registry using the Standard International Trade
Classification, Revision 3 (SITC, Rev. 3). The SITC code that defined "leather apparel and
clothing accessories" is 8481 . For more information on this definition, please refer to the
following web site:
http://unstats.un.org/unsd/cr/registry/regcs.asp?Cl=14&Lg=1&Co=848 .

This report is updated on an annual basis. To ensure that you have the most current version,
please check the web site of ICON Group at www.icongrouponline.com.

Important Caveat. The figures should be seen as market estimates, as opposed to historical
records, as these are forecasted for the current year of trade. More importantly, in light of the fact
that unforeseeable factors might interrupt markets in achieving their reported levels, the figures
should be seen as estimates of potential. For example, "mad cow" disease, foot-and-mouth
disease, trade embargoes, military conflicts, acts of terrorism and other events will certainly
affect the actual trade flows recorded for a variety of industry or product categories. In such
cases, the difference between the numbers given in this report and the numbers actually observed
might be interpreted as the "net loss" or "net gain" due to these exogenous events affecting
regular trade flows that would have occurred had these events not have taken place.




www.icongrouponline.com                                                        ©2011 ICON Group Ltd.
                                            Leather Apparel and Clothing Accessories in Cyprus          8


2        CYPRUS AND THE WORLD MARKET
2.1         IMPORTS IN CYPRUS IN 2011
         Imported Leather Apparel and Clothing Accessories in Cyprus, 2011
                              (Structure of Foreign Import Competition)

Country of Origin             Rank         Value (000 US$)              % Share        Cumulative %
_________________________________________________________________________________________________________
Italy                             1                     1,667               26.76                 26.76
Greece                            2                     1,524               24.46                 51.22
China                             3                     1,087               17.45                 68.67
Spain                             4                       614                9.86                 78.52
the United Kingdom                5                       512                8.22                 86.74
Germany                           6                       218                3.50                 90.24
Pakistan                          7                       184                2.95                 93.19
France                            8                       177                2.84                 96.04
Switzerland                       9                       124                1.99                 98.03
the Netherlands                  10                        68                1.09                 99.12
India                            11                        54                0.87                 99.98
Romania                          12                         1                0.02                100.00
Total                                                   6,230              100.00                100.00
_________________________________________________________________________________________________________
    Source: Philip M. PARKER, Professor, INSEAD, copyright 2011, www.icongrouponline.com



2.2         EXPORTS FROM CYPRUS IN 2011
         Leather Apparel and Clothing Accessories Exports from Cyprus, 2011
Country of Destination        Rank         Value (000 US$)              % Share        Cumulative %
_________________________________________________________________________________________________________
Greece                             1                    1,046               57.03                 57.03
Spain                              2                      788               42.97                100.00
Total                                                   1,834              100.00                100.00
_________________________________________________________________________________________________________
    Source: Philip M. PARKER, Professor, INSEAD, copyright 2011, www.icongrouponline.com




www.icongrouponline.com                                                          ©2011 ICON Group Ltd.
                                            Leather Apparel and Clothing Accessories in Cyprus          9


3       IMPORTS IN CYPRUS
3.1         EUROPE
3.1.1          Greece
         Leather Apparel and Clothing Accessories Exports from Greece, 2011
Country of Destination        Rank         Value (000 US$)              % Share        Cumulative %
_________________________________________________________________________________________________________
Cyprus                            1                     1,524               45.97                 45.97
Bulgaria                          2                       261                7.87                 53.85
Spain                             3                       237                7.15                 61.00
Romania                           4                       229                6.91                 67.90
Germany                           5                       182                5.49                 73.39
Turkey                            6                       141                4.25                 77.65
France                            7                       117                3.53                 81.18
Switzerland                       8                       110                3.32                 84.49
Singapore                         9                       105                3.17                 87.66
the United States                10                        95                2.87                 90.53
Belgium                          11                        77                2.32                 92.85
Austria                          12                        66                1.99                 94.84
Macedonia                        13                        60                1.81                 96.65
Italy                            14                        54                1.63                 98.28
Hungary                          15                        26                0.78                 99.06
the United Kingdom               16                        13                0.39                 99.46
Poland                           17                         8                0.24                 99.70
Israel                           18                         7                0.21                 99.91
Russia                           19                         3                0.09                100.00
Total                                                   3,315              100.00                100.00
_________________________________________________________________________________________________________
    Source: Philip M. PARKER, Professor, INSEAD, copyright 2011, www.icongrouponline.com




www.icongrouponline.com                                                          ©2011 ICON Group Ltd.
                                            Leather Apparel and Clothing Accessories in Cyprus        10


3.1.2          Spain
          Leather Apparel and Clothing Accessories Exports from Spain, 2011
Country of Destination        Rank         Value (000 US$)              % Share        Cumulative %
_________________________________________________________________________________________________________
France                            1                    15,708               17.94                 17.94
Japan                             2                    10,102               11.54                 29.48
the United States                 3                     8,070                9.22                 38.69
Belgium                           4                     5,375                6.14                 44.83
the United Kingdom                5                     5,162                5.90                 50.73
Hong Kong                         6                     5,034                5.75                 56.48
Greece                            7                     4,887                5.58                 62.06
Germany                           8                     4,883                5.58                 67.63
Italy                             9
								
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