Singapore: Men Knitwear Market 2024

Men Knitwear Market Size in Singapore

The Singaporean men knitwear market shrank to $X in 2022, declining by X% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Men Knitwear Production in Singapore

In value terms, men knitwear production soared to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a abrupt downturn. Men knitwear production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

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Men Knitwear Exports

Exports from Singapore

Men knitwear exports from Singapore reduced sharply to X units in 2022, declining by X% against the previous year. Over the period under review, exports recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, men knitwear exports declined slightly to $X in 2022. In general, exports recorded a mild setback. The growth pace was the most rapid in 2015 with an increase of X%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for men knitwear exports from Singapore, with a X% share of total exports. Moreover, men knitwear exports to the United States exceeded the volume sent to the second major destination, Malaysia (X units), threefold. The third position in this ranking was taken by Indonesia (X units), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and Indonesia (X% per year).

In value terms, the United States ($X) remains the key foreign market for men's or boys' clothing (knitted or crocheted) exports from Singapore, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with an X% share of total exports. It was followed by the United Arab Emirates, with an X% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

The average men knitwear export price stood at $X per unit in 2022, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2020 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Men Knitwear Imports

Imports into Singapore

In 2022, imports of men's or boys' clothing (knitted or crocheted) into Singapore fell rapidly to X units, declining by X% against the previous year. Over the period under review, imports showed a pronounced curtailment. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, imports hit record highs at X units in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, men knitwear imports expanded modestly to $X in 2022. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Bangladesh (X units) and Indonesia (X units) were the main suppliers of men knitwear imports to Singapore, with a combined X% share of total imports. Malaysia, Vietnam, Jordan, Pakistan, Cambodia, India and Thailand lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Jordan (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Indonesia ($X) and Bangladesh ($X) appeared to be the largest men knitwear suppliers to Singapore, together comprising X% of total imports. Malaysia, Vietnam, Jordan, Pakistan, Cambodia, India and Thailand lagged somewhat behind, together accounting for a further X%.

Jordan, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average men knitwear import price stood at $X per unit in 2022, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Jordan ($X per unit), while the price for Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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