U.S.: Market for Knitted Apparel other than Hosiery, Socks, Outerwear and Undewear 2024

Market Size for Knitted Apparel other than Hosiery, Socks, Outerwear and Undewear in the U.S.

The U.S. market for knitted apparel other than hosiery, socks, outerwear and undewear soared to $X in 2022, growing by X% against the previous year. Overall, consumption recorded a relatively flat trend pattern. Consumption of peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Production of Knitted Apparel other than Hosiery, Socks, Outerwear and Undewear in the U.S.

In value terms, production of knitted apparel other than hosiery, socks, outerwear and undewear totaled $X in 2022. Over the period under review, production, however, recorded a mild descent. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. Over the period under review, production of reached the maximum level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

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Exports of Knitted Apparel other than Hosiery, Socks, Outerwear and Undewear

Exports from the U.S.

In 2022, approx. X units of knitted apparel other than hosiery, socks, outerwear and undewear were exported from the United States; dropping by X% compared with the previous year's figure. In general, exports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of X units, and then reduced remarkably in the following year.

In value terms, exports of knitted apparel other than hosiery, socks, outerwear and undewear shrank sharply to $X in 2022. Over the period under review, exports, however, posted a temperate increase. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then shrank notably in the following year.

Exports by Country

Mexico (X units) was the main destination for exports of knitted apparel other than hosiery, socks, outerwear and undewear from the United States, with a X% share of total exports. Moreover, exports of knitted apparel other than hosiery, socks, outerwear and undewear to Mexico exceeded the volume sent to the second major destination, Canada (X units), fivefold. The third position in this ranking was held by Nicaragua (X units), with an X% share.

From 2013 to 2022, the average annual rate of growth in terms of volume to Mexico stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Nicaragua (X% per year).

In value terms, Canada ($X), Mexico ($X) and Nicaragua ($X) constituted the largest markets for knitted apparel other than hosiery, socks, outerwear and undewear exported from the United States worldwide, with a combined X% share of total exports.

Nicaragua, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for knitted apparel other than hosiery, socks, outerwear and undewear stood at $X per unit in 2022, declining by X% against the previous year. In general, the export price continues to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2020 when the average export price increased by X%. The export price peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

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

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nicaragua (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Knitted Apparel other than Hosiery, Socks, Outerwear and Undewear

Imports into the U.S.

After two years of decline, supplies from abroad of knitted apparel other than hosiery, socks, outerwear and undewear increased by X% to X units in 2022. The total import volume increased at an average annual rate of X% from 2013 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 when imports increased by X%. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of knitted apparel other than hosiery, socks, outerwear and undewear surged to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2013 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of knitted apparel other than hosiery, socks, outerwear and undewear to the United States, accounting for a X% share of total imports. Moreover, imports of knitted apparel other than hosiery, socks, outerwear and undewear from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), sixfold. The third position in this ranking was held by Bangladesh (X units), with an X% share.

From 2013 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Bangladesh (X% per year).

In value terms, China ($X) constituted the largest supplier of knitted apparel other than hosiery, socks, outerwear and undewear to the United States, comprising X% of total imports. The second position in the ranking was held by Vietnam ($X), with a X% share of total imports. It was followed by Bangladesh, with a X% share.

From 2013 to 2022, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Bangladesh (X% per year).

Import Prices by Country

The average import price for knitted apparel other than hosiery, socks, outerwear and undewear stood at $X per unit in 2022, picking up by X% against the previous year. Over the period from 2013 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X%. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

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

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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