Estonia: Women Knitwear Market 2024

Women Knitwear Market Size in Estonia

The Estonian women knitwear market totaled $X in 2022, with an increase of 9.2% against the previous year. Overall, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +7.5% 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 +36.2% against 2020 indices. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in years to come.

Women Knitwear Production in Estonia

In value terms, women knitwear production dropped to $X in 2022 estimated in export price. Over the period under review, production saw a slight shrinkage. The pace of growth was the most pronounced in 2013 with an increase of 44% against the previous year. Women knitwear production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Women Knitwear Exports

Exports from Estonia

In 2022, shipments abroad of women's or girls' clothing (knitted or crocheted) increased by 43% to X units, rising for the second consecutive year after four years of decline. In general, exports, however, showed a deep contraction. Over the period under review, the exports attained the maximum at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, women knitwear exports stood at $X in 2022. Overall, exports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2021 with an increase of 27%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Kazakhstan (X units), Finland (X units) and the Czech Republic (X units) were the main destinations of women knitwear exports from Estonia, with a combined 48% share of total exports. Georgia, Sweden, Latvia, Norway, Italy, Lithuania and Russia lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2022, the biggest increases were recorded for Georgia (with a CAGR of +2,465.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for women knitwear exported from Estonia were Finland ($X), the Czech Republic ($X) and Latvia ($X), with a combined 46% share of total exports. Norway, Sweden, Lithuania, Kazakhstan, Italy, Russia and Georgia lagged somewhat behind, together accounting for a further 34%.

Georgia, with a CAGR of +268.3%, saw the highest growth rate of the value of exports, among 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 women knitwear export price amounted to $X per unit, which is down by -23.6% against the previous year. In general, the export price saw a noticeable contraction. The most prominent rate of growth was recorded in 2017 when the average export price increased by 42%. The export price peaked at $X per unit in 2021, and then fell rapidly in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Norway ($X per unit), while the average price for exports to Georgia ($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 Finland (+5.0%), while the prices for the other major destinations experienced more modest paces of growth.

Women Knitwear Imports

Imports into Estonia

Women knitwear imports into Estonia skyrocketed to X units in 2022, with an increase of 21% on the year before. In general, total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +7.0% 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 +41.0% against 2017 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 56%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, women knitwear imports expanded rapidly to $X in 2022. Over the period under review, total imports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.7% 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 +56.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 44%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Bangladesh (X units), China (X units) and India (X units) were the main suppliers of women knitwear imports to Estonia, together comprising 63% of total imports. Myanmar, Cambodia, Turkey, Poland and Latvia lagged somewhat behind, together comprising a further 24%.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +110.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Bangladesh ($X) and Turkey ($X) constituted the largest women knitwear suppliers to Estonia, with a combined 53% share of total imports. Cambodia, Myanmar, India, Poland and Latvia lagged somewhat behind, together accounting for a further 18%.

Among the main suppliers, Myanmar, with a CAGR of +101.6%, 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 more modest paces of growth.

Import Prices by Country

The average women knitwear import price stood at $X per unit in 2022, which is down by -9.8% against the previous year. In general, the import price recorded a pronounced slump. The most prominent rate of growth was recorded in 2021 when the average import price increased by 28%. 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.

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 Turkey (+2.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform