ASEAN: Knitted Fabric Market 2024

Knitted Fabric Market Size in ASEAN

In 2023, after two years of growth, there was significant decline in the ASEAN knitted fabric market, when its value decreased by X% to $X. The total consumption indicated perceptible growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2022, and then fell in the following year.

Knitted Fabric Production in ASEAN

In value terms, knitted fabric production totaled $X in 2023 estimated in export price. The total production indicated a prominent expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2021; afterwards, it flattened through to 2023.

Knitted Fabric Exports

Exports in ASEAN

In 2023, shipments abroad of knitted or crocheted fabrics decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Over the period under review, exports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2022, and then fell slightly in the following year.

In value terms, knitted fabric exports contracted to $X in 2023. In general, exports, however, posted prominent growth. The pace of growth appeared the most rapid in 2018 when exports increased by X%. The level of export peaked at $X in 2022, and then reduced in the following year.

Exports by Country

Vietnam represented the largest exporter of knitted or crocheted fabrics in ASEAN, with the volume of exports accounting for X tons, which was near X% of total exports in 2023. Malaysia (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (X%) and Indonesia (X%). The following exporters - Cambodia (X tons) and Singapore (X tons) - together made up X% of total exports.

Vietnam was also the fastest-growing in terms of the knitted or crocheted fabrics exports, with a CAGR of X% from 2012 to 2023. At the same time, Cambodia (X%), Malaysia (X%), Indonesia (X%) and Thailand (X%) displayed positive paces of growth. By contrast, Singapore (X%) illustrated a downward trend over the same period. Vietnam (X p.p.) and Cambodia (X p.p.) significantly strengthened its position in terms of the total exports, while Singapore, Indonesia and Thailand saw its share reduced by X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest knitted fabric supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Thailand ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Vietnam totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (X% per year) and Malaysia (X% per year).

Export Prices by Country

In 2023, the export price in ASEAN amounted to $X per ton, with a decrease of X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced more modest paces of growth.

Knitted Fabric Imports

Imports in ASEAN

In 2023, after two years of growth, there was significant decline in overseas purchases of knitted or crocheted fabrics, when their volume decreased by X% to X tons. Total imports indicated prominent growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2012 indices. The pace of growth was the most pronounced in 2022 when imports increased by X%. As a result, imports attained the peak of X tons, and then fell in the following year.

In value terms, knitted fabric imports fell to $X in 2023. Total imports indicated a resilient expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2022 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

Vietnam was the largest importing country with an import of about X tons, which finished at X% of total imports. Cambodia (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (X%) and Myanmar (X%). The following importers - Thailand (X tons), Malaysia (X tons) and the Philippines (X tons) - together made up X% of total imports.

Imports into Vietnam increased at an average annual rate of X% from 2012 to 2023. At the same time, Myanmar (X%), Cambodia (X%), Malaysia (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2023. Thailand experienced a relatively flat trend pattern. By contrast, the Philippines (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Myanmar, Cambodia and Vietnam increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) constitutes the largest market for imported knitted or crocheted fabrics in ASEAN, comprising X% of total imports. The second position in the ranking was taken by Cambodia ($X), with a X% share of total imports. It was followed by Indonesia, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Vietnam totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Cambodia (X% per year) and Indonesia (X% per year).

Import Prices by Country

In 2023, the import price in ASEAN amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Myanmar (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform