Egypt: Knitted Fabric Market 2024

Knitted Fabric Market Size in Egypt

In 2021, the Egyptian knitted fabric market decreased by -15.2% to $X, falling for the second year in a row after four years of growth. Over the period under review, consumption, however, saw moderate growth. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Knitted Fabric Production in Egypt

In value terms, knitted fabric production stood at $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a slight descent. The most prominent rate of growth was recorded in 2017 when the production volume increased by 60% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Knitted Fabric Exports

Exports from Egypt

In 2021, exports of knitted or crocheted fabrics from Egypt soared to X tons, rising by 17% on the previous year's figure. Over the period under review, exports showed a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 1,258%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, knitted fabric exports totaled $X in 2021. Overall, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 1,133%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Turkey (X tons) was the main destination for knitted fabric exports from Egypt, with a 126% share of total exports. Moreover, knitted fabric exports to Turkey exceeded the volume sent to the second major destination, Italy (X tons), threefold. Saudi Arabia (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey amounted to +134.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+70.3% per year) and Saudi Arabia (+57.7% per year).

In value terms, Turkey ($X) emerged as the key foreign market for knitted or crocheted fabrics exports from Egypt, comprising 51% of total exports. The second position in the ranking was taken by Italy ($X), with a 15% share of total exports. It was followed by Algeria, with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Turkey totaled +86.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+56.7% per year) and Algeria (+111.0% per year).

Export Prices by Country

In 2021, the average knitted fabric export price amounted to $X per ton, falling by -12.2% against the previous year. Overall, the export price, however, continues to indicate a remarkable increase. The growth pace was the most rapid in 2020 an increase of 166%. As a result, the export price reached the peak level of $X per ton, and then reduced in the following year.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Algeria ($X per ton), while the average price for exports to Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ethiopia (+59.9%), while the prices for the other major destinations experienced more modest paces of growth.

Knitted Fabric Imports

Imports into Egypt

In 2021, supplies from abroad of knitted or crocheted fabrics decreased by -28.8% to X tons, falling for the second year in a row after two years of growth. In general, imports, however, saw a remarkable increase. The pace of growth was the most pronounced in 2013 with an increase of 66%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, knitted fabric imports shrank significantly to $X in 2021. Overall, imports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2015 when imports increased by 52% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest knitted fabric supplier to Egypt, with a 59% share of total imports. Moreover, knitted fabric imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), fivefold. Israel (X tons) ranked third in terms of total imports with a 3.8% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+10.4% per year) and Israel (+4.9% per year).

In value terms, China ($X) constituted the largest supplier of knitted or crocheted fabrics to Egypt, comprising 62% of total imports. The second position in the ranking was taken by Turkey ($X), with a 14% share of total imports. It was followed by Israel, with a 3.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +16.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+11.6% per year) and Israel (+5.5% per year).

Import Prices by Country

In 2021, the average knitted fabric import price amounted to $X per ton, picking up by 12% against the previous year. Overall, import price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, knitted fabric import price increased by +67.9% against 2019 indices. The pace of growth was the most pronounced in 2020 when the average import price increased by 50% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is likely to see steady growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from South Korea ($X per ton) and Turkey ($X per ton), while the price for Israel ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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