Turkey's Knitted Fabric Price Rises Slightly to $6,972 per Ton

Turkey Knitted Fabric Export Price in January 2023

In January 2023, the knitted fabric price amounted to $6,972 per ton (FOB, Turkey), picking up by 2.3% against the previous month. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in September 2022 an increase of 4.3% month-to-month. Over the period under review, the average export prices reached the maximum at $7,246 per ton in April 2022; however, from May 2022 to January 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In January 2023, the country with the highest price was Jordan ($10,372 per ton), while the average price for exports to Serbia ($5,265 per ton) was amongst the lowest.

From January 2022 to January 2023, the most notable rate of growth in terms of prices was recorded for supplies to Jordan (+2.0%), while the prices for the other major destinations experienced more modest paces of growth.

Turkey Knitted Fabric Export Prices by Type

Prices varied noticeably by the product type; the product with the highest price was knitted or crocheted fabrics, of a width <= 30 cm, containing by weight >= 5% of elastomeric yarn or rubber thread ($17,451 per ton), while the average price for exports of knitted or crocheted fabrics, of a width <= 30 cm ($1,677 per ton) was amongst the lowest.

From January 2022 to January 2023, the most notable rate of growth in terms of prices was recorded for the following types: knitted or crocheted fabrics, of a width <= 30 cm, containing by weight >= 5% of elastomeric yarn or rubber thread (+2.1%), while the prices for the other products experienced mixed trend patterns.

Turkey Knitted Fabric Exports

In January 2023, after three months of decline, there was significant growth in shipments abroad of knitted or crocheted fabrics, when their volume increased by 5.3% to 24K tons. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2022 with an increase of 40% month-to-month.

In value terms, knitted fabric exports rose markedly to $166M (IndexBox estimates) in January 2023. Overall, exports, however, continue to indicate a mild setback. The most prominent rate of growth was recorded in June 2022 with an increase of 38% against the previous month.

Turkey Knitted Fabric Exports by Type

Fabrics, knitted or crocheted, of a width of > 30 cm (14K tons) was the largest type of knitted fabric exported from Turkey, with a 61% share of total exports. Moreover, fabrics, knitted or crocheted, of a width of > 30 cm exceeded the volume of the second product type, knitted or crocheted fabrics, of a width > 30 cm, containing by weight >= 5% of elastomeric yarn or rubber thread (7.1K tons), twofold. The third position in this ranking was taken by warp knit fabrics, incl. those made on galloon knitting machines, of a width of > 30 cm (1.5K tons), with a 6.2% share.

From January 2022 to January 2023, the average monthly rate of growth in terms of the volume of export of fabrics, knitted or crocheted, of a width of > 30 cm was relatively modest. With regard to the other exported products, the following average monthly rates of growth were recorded: knitted or crocheted fabrics, of a width > 30 cm, containing by weight >= 5% of elastomeric yarn or rubber thread (-0.8% per month) and warp knit fabrics, incl. those made on galloon knitting machines, of a width of > 30 cm (-2.1% per month).

In value terms, the most traded types of knitted or crocheted fabrics in Turkey were fabrics, knitted or crocheted, of a width of > 30 cm ($99M), knitted or crocheted fabrics, of a width > 30 cm, containing by weight >= 5% of elastomeric yarn or rubber thread ($53M) and warp knit fabrics, incl. those made on galloon knitting machines, of a width of > 30 cm ($8.8M), together comprising 97% of total exports. These products were followed by knitted or crocheted pile fabrics, knitted or crocheted fabrics, of a width <= 30 cm, containing by weight >= 5% of elastomeric yarn or rubber thread and knitted or crocheted fabrics, of a width <= 30 cm, which together accounted for a further 3.2%.

In terms of the main product categories, knitted or crocheted fabrics, of a width <= 30 cm, with a CAGR of +4.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other products experienced a decline.

Turkey Knitted Fabric Exports by Country

Belarus (4.7K tons), Italy (2.6K tons) and Bulgaria (2K tons) were the main destinations of knitted fabric exports from Turkey, together accounting for 39% of total exports. Russia, Kyrgyzstan, Serbia, Morocco, Poland, Jordan, Greece, Ukraine, Romania and Tunisia lagged somewhat behind, together accounting for a further 36%.

From January 2022 to January 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Kyrgyzstan (with a CAGR of +8.9%), while the other leaders experienced more modest paces of growth.

In value terms, Belarus ($32M), Italy ($18M) and Bulgaria ($15M) constituted the largest markets for knitted fabric exported from Turkey worldwide, together accounting for 39% of total exports. These countries were followed by Kyrgyzstan, Russia, Jordan, Morocco, Serbia, Poland, Greece, Tunisia, Romania and Ukraine, which together accounted for a further 36%.

Kyrgyzstan, with a CAGR of +9.3%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform