Costa Rica: Non-Knitted Men Apparel Market 2024

Non-Knitted Men Apparel Market Size in Costa Rica

The Costa Rican non-knitted men apparel market fell sharply to $X in 2022, with a decrease of -16.7% against the previous year. Overall, consumption continues to indicate a slight curtailment. Non-knitted men apparel consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Non-Knitted Men Apparel Production in Costa Rica

In value terms, non-knitted men apparel production dropped to $X in 2022 estimated in export price. In general, production continues to indicate a slight slump. The pace of growth appeared the most rapid in 2014 with an increase of 81%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Non-Knitted Men Apparel Exports

Exports from Costa Rica

In 2022, shipments abroad of men's or boys' clothing (not knitted or crocheted) increased by 28% to X units, rising for the fifth consecutive year after four years of decline. Overall, exports, however, continue to indicate a noticeable reduction. The growth pace was the most rapid in 2019 with an increase of 182% against the previous year. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-knitted men apparel exports surged to $X in 2022. Over the period under review, exports, however, recorded a drastic downturn. The growth pace was the most rapid in 2019 with an increase of 159%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units), Panama (X units) and Guatemala (X units) were the main destinations of non-knitted men apparel exports from Costa Rica, with a combined 71% share of total exports. El Salvador, Chile, Honduras and Spain lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Chile (with a CAGR of +136.3%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for men's or boys' clothing (not knitted or crocheted) exports from Costa Rica, comprising 54% of total exports. The second position in the ranking was held by Panama ($X), with a 14% share of total exports. It was followed by Guatemala, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled -9.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+25.8% per year) and Guatemala (+48.4% per year).

Export Prices by Country

In 2022, the average non-knitted men apparel export price amounted to $X per unit, increasing by 17% against the previous year. Overall, the export price, however, showed a pronounced curtailment. The most prominent rate of growth was recorded in 2015 an increase of 37%. Over the period under review, the average export prices reached the maximum at $X per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Spain ($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 the United States (+1.9%), while the prices for the other major destinations experienced a decline.

Non-Knitted Men Apparel Imports

Imports into Costa Rica

In 2022, approx. X units of men's or boys' clothing (not knitted or crocheted) were imported into Costa Rica; falling by -65.7% on the previous year. Over the period under review, imports showed a deep downturn. The growth pace was the most rapid in 2015 when imports increased by 41%. Over the period under review, imports reached the peak figure at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, non-knitted men apparel imports dropped remarkably to $X in 2022. Overall, imports continue to indicate a deep setback. The pace of growth was the most pronounced in 2021 with an increase of 30%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest non-knitted men apparel supplier to Costa Rica, with a 44% share of total imports. Moreover, non-knitted men apparel imports from China exceeded the figures recorded by the second-largest supplier, Bangladesh (X units), fourfold. The United States (X units) ranked third in terms of total imports with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Bangladesh (+1.0% per year) and the United States (-0.7% per year).

In value terms, China ($X) constituted the largest supplier of men's or boys' clothing (not knitted or crocheted) to Costa Rica, comprising 43% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a 10% share of total imports. It was followed by the United States, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to -10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Bangladesh (+14.3% per year) and the United States (-9.6% per year).

Import Prices by Country

The average non-knitted men apparel import price stood at $X per unit in 2022, reducing by -12.3% against the previous year. Overall, the import price recorded a deep contraction. The growth pace was the most rapid in 2021 an increase of 8.7% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($X per unit) and Vietnam ($X per unit), while the price for Cambodia ($X per unit) and Pakistan ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nicaragua (+15.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform