Estonia: Men Knitwear Market 2024

Men Knitwear Market Size in Estonia

In 2022, the Estonian men knitwear market increased by 31% to $X, rising for the second year in a row after three years of decline. In general, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +60.1% against 2020 indices. Men knitwear consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Men Knitwear Production in Estonia

In value terms, men knitwear production expanded rapidly to $X in 2022 estimated in export price. In general, production, however, saw a perceptible downturn. Men knitwear production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Men Knitwear Exports

Exports from Estonia

Men knitwear exports from Estonia contracted modestly to X units in 2022, declining by -3% compared with the previous year. Over the period under review, exports recorded a drastic downturn. The most prominent rate of growth was recorded in 2013 with an increase of 31%. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, men knitwear exports contracted modestly to $X in 2022. Overall, exports continue to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2017 with an increase of 18%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Norway (X units), Sweden (X units) and Finland (X units) were the main destinations of men knitwear exports from Estonia, together accounting for 61% of total exports. Russia, Latvia, Kazakhstan, Lithuania and the Czech Republic lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the biggest increases were recorded for Kazakhstan (with a CAGR of +85.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for men knitwear exported from Estonia were Norway ($X), Sweden ($X) and Finland ($X), with a combined 65% share of total exports. Latvia, Russia, Lithuania, the Czech Republic and Kazakhstan lagged somewhat behind, together accounting for a further 18%.

Kazakhstan, with a CAGR of +50.1%, 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.

Export Prices by Country

In 2022, the average men knitwear export price amounted to $X per unit, approximately reflecting the previous year. Over the period under review, export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, men knitwear export price increased by +33.8% against 2020 indices. The pace of growth appeared the most rapid in 2015 an increase of 38% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2021, and then shrank slightly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Latvia ($X per unit), while the average price for exports to Kazakhstan ($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 Norway (+6.3%), while the prices for the other major destinations experienced more modest paces of growth.

Men Knitwear Imports

Imports into Estonia

In 2022, the amount of men's or boys' clothing (knitted or crocheted) imported into Estonia surged to X units, increasing by 28% on 2021. Over the period under review, total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +7.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.6% against 2018 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 35%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, men knitwear imports soared to $X in 2022. Overall, total imports indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +63.0% against 2020 indices. The growth pace was the most rapid in 2016 when imports increased by 53% against the previous year. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

Bangladesh (X units), China (X units) and India (X units) were the main suppliers of men knitwear imports to Estonia, together accounting for 63% of total imports. Poland, Pakistan, Myanmar, Cambodia, Turkey, Vietnam and Latvia lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Myanmar (with a CAGR of +135.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest men knitwear suppliers to Estonia were China ($X), Bangladesh ($X) and Cambodia ($X), together comprising 44% of total imports. India, Pakistan, Turkey, Vietnam, Myanmar, Poland and Latvia lagged somewhat behind, together accounting for a further 27%.

Among the main suppliers, Myanmar, with a CAGR of +132.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average men knitwear import price amounted to $X per unit, approximately mirroring the previous year. In general, the import price showed a deep setback. The most prominent rate of growth was recorded in 2018 an increase of 25% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Latvia ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform