Belgium: Men Knitwear Market 2024

Men Knitwear Market Size in Belgium

The Belgian men knitwear market expanded significantly to $X in 2022, increasing by 7% against the previous year. In general, consumption enjoyed a prominent expansion. Men knitwear consumption peaked in 2022 and is likely to see steady growth in years to come.

Men Knitwear Production in Belgium

In value terms, men knitwear production expanded modestly to $X in 2022 estimated in export price. In general, production posted a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 1,171%. Men knitwear production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Men Knitwear Exports

Exports from Belgium

In 2022, approx. X units of men's or boys' clothing (knitted or crocheted) were exported from Belgium; shrinking by -26.7% compared with the year before. Over the period under review, exports, however, saw notable growth. The most prominent rate of growth was recorded in 2020 when exports increased by 1,574%. As a result, the exports reached the peak of X units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, men knitwear exports shrank rapidly to $X in 2022. In general, exports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 2,207%. Over the period under review, the exports attained the peak figure at $X in 2021, and then dropped notably in the following year.

Exports by Country

France (X units), Germany (X units) and the Netherlands (X units) were the main destinations of men knitwear exports from Belgium, together comprising 54% of total exports. Italy, Spain, Poland, Turkey, Austria, Greece and the UK lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the biggest increases were recorded for Austria (with a CAGR of +13.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and Italy ($X) were the largest markets for men knitwear exported from Belgium worldwide, together comprising 52% of total exports. The Netherlands, Spain, Poland, Turkey, Greece, Austria and the UK lagged somewhat behind, together accounting for a further 34%.

Among the main countries of destination, Poland, with a CAGR of +14.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average men knitwear export price amounted to $X per unit, picking up by 8.5% against the previous year. Over the period under review, the export price showed notable growth. The growth pace was the most rapid in 2020 when the average export price increased by 38%. The export price peaked in 2022 and is likely to continue growth in years to come.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Greece ($X per unit) and Italy ($X per unit), while the average price for exports to Turkey ($X per unit) and Austria ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.

Men Knitwear Imports

Imports into Belgium

In 2022, after two years of growth, there was significant decline in purchases abroad of men's or boys' clothing (knitted or crocheted), when their volume decreased by -72.7% to X units. In general, imports recorded a deep slump. The pace of growth was the most pronounced in 2020 with an increase of 416% against the previous year. Imports peaked at X units in 2021, and then shrank markedly in the following year.

In value terms, men knitwear imports reduced rapidly to $X in 2022. Overall, imports showed a deep setback. The most prominent rate of growth was recorded in 2020 when imports increased by 411% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then dropped markedly in the following year.

Imports by Country

The Netherlands (X units), Germany (X units) and Bangladesh (X units) were the main suppliers of men knitwear imports to Belgium, together comprising 47% of total imports. Pakistan, China, India, Spain, France, Turkey, Italy, Myanmar, Indonesia and Malaysia lagged somewhat behind, together comprising a further 43%.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +81.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Germany ($X) and China ($X) were the largest men knitwear suppliers to Belgium, with a combined 42% share of total imports. Italy, Bangladesh, France, Spain, Pakistan, Turkey, Myanmar, India, Indonesia and Malaysia lagged somewhat behind, together accounting for a further 38%.

Myanmar, with a CAGR of +92.2%, recorded 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 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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