Eastern Asia: Knitted Fabric Market 2025

Knitted Fabric Market Size in Eastern Asia

In 2021, the East Asian knitted fabric market decreased by -2.6% to $X, falling for the third year in a row after seven years of growth. The total consumption indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -16.8% against 2018 indices. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Knitted Fabric Production in Eastern Asia

In value terms, knitted fabric production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 15% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Knitted Fabric Exports

Exports in Eastern Asia

Knitted fabric exports reached X tons in 2021, with an increase of 6% compared with the previous year's figure. The total export volume increased at an average annual rate of +2.3% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2014 when exports increased by 9%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, knitted fabric exports rose rapidly to $X in 2021. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 7.4% against the previous year. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

China was the major exporter of knitted or crocheted fabrics in Eastern Asia, with the volume of exports recording X tons, which was approx. 75% of total exports in 2021. South Korea (X tons) held a 10% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (7.8%) and Hong Kong SAR (5.4%).

China was also the fastest-growing in terms of the knitted or crocheted fabrics exports, with a CAGR of +6.1% from 2012 to 2021. Taiwan (Chinese) (-2.7%), South Korea (-4.6%) and Hong Kong SAR (-6.6%) illustrated a downward trend over the same period. While the share of China (+21 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Taiwan (Chinese) (-4.5 p.p.), Hong Kong SAR (-6.9 p.p.) and South Korea (-9.2 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest knitted fabric supplier in Eastern Asia, comprising 61% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 14% share of total exports. It was followed by South Korea, with a 13% share.

From 2012 to 2021, the average annual growth rate of value in China amounted to +4.4%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+0.2% per year) and South Korea (-5.6% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, remaining stable against the previous year. Over the period under review, the export price recorded a mild decrease. The most prominent rate of growth was recorded in 2017 when the export price increased by 4.2% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.0%), while the other leaders experienced mixed trends in the export price figures.

Knitted Fabric Imports

Imports in Eastern Asia

After three years of decline, overseas purchases of knitted or crocheted fabrics increased by 12% to X tons in 2021. Over the period under review, imports, however, saw a abrupt shrinkage. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, knitted fabric imports surged to $X in 2021. Overall, imports, however, continue to indicate a noticeable decrease. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Hong Kong SAR represented the largest importer of knitted or crocheted fabrics in Eastern Asia, with the volume of imports amounting to X tons, which was near 54% of total imports in 2021. China (X tons) took a 31% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (8.3%). Japan (X tons) took a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +2.0%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Hong Kong SAR ($X), China ($X) and South Korea ($X) were the countries with the highest levels of imports in 2021, with a combined 94% share of total imports.

In terms of the main importing countries, South Korea, with a CAGR of -1.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, increasing by 5.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2014 when the import price increased by 11% against the previous year. As a result, import price reached the peak level of $X per ton; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+2.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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