Ethiopia: Men Knitwear Market 2024

Men Knitwear Market Size in Ethiopia

The Ethiopian men knitwear market expanded rapidly to $X in 2022, rising by 6.1% against the previous year. Over the period under review, consumption enjoyed buoyant growth. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Men Knitwear Production in Ethiopia

In value terms, men knitwear production expanded notably to $X in 2022 estimated in export price. Over the period under review, production recorded a strong increase. The most prominent rate of growth was recorded in 2016 with an increase of 61% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Men Knitwear Exports

Exports from Ethiopia

In 2022, overseas shipments of men's or boys' clothing (knitted or crocheted) decreased by -2.9% to X units, falling for the second year in a row after two years of growth. In general, exports, however, posted a modest increase. The most prominent rate of growth was recorded in 2019 with an increase of 545%. Over the period under review, the exports attained the peak figure at X units in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, men knitwear exports fell to $X in 2022. Over the period under review, exports, however, continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2019 with an increase of 365%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for men knitwear exports from Ethiopia, accounting for a 72% share of total exports. Moreover, men knitwear exports to the United States exceeded the volume sent to the second major destination, Spain (X units), sevenfold. Germany (X units) ranked third in terms of total exports with an 8.3% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+41.4% per year) and Germany (-5.9% per year).

In value terms, the United States ($X) remains the key foreign market for men's or boys' clothing (knitted or crocheted) exports from Ethiopia, comprising 71% of total exports. The second position in the ranking was taken by Spain ($X), with a 9.5% share of total exports. It was followed by Germany, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +13.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+62.1% per year) and Germany (+0.2% per year).

Export Prices by Country

The average men knitwear export price stood at $X per unit in 2022, shrinking by -4.7% against the previous year. In general, the export price, however, showed prominent growth. The pace of growth appeared the most rapid in 2017 when the average export price increased by 143% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Germany ($X per unit) and the United States ($X per unit), while the average price for exports to Canada ($X per unit) and Spain ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+37.0%), while the prices for the other major destinations experienced more modest paces of growth.

Men Knitwear Imports

Imports into Ethiopia

In 2022, the amount of men's or boys' clothing (knitted or crocheted) imported into Ethiopia shrank dramatically to X units, falling by -87% compared with the previous year. Overall, imports saw a significant decrease. The most prominent rate of growth was recorded in 2014 when imports increased by 108% against the previous year. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, men knitwear imports plummeted to $X in 2022. In general, imports faced a significant contraction. The most prominent rate of growth was recorded in 2014 when imports increased by 136%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Pakistan (X units) and Turkey (X units) were the main suppliers of men knitwear imports to Ethiopia, together accounting for 89% of total imports.

From 2012 to 2022, the biggest increases were recorded for Pakistan (with a CAGR of +37.8%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, China ($X) constituted the largest supplier of men's or boys' clothing (knitted or crocheted) to Ethiopia, comprising 54% of total imports. The second position in the ranking was held by Pakistan ($X), with a 27% share of total imports. It was followed by Turkey, with a 7.4% share.

From 2012 to 2022, the average annual growth rate of value from China totaled -25.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Pakistan (+50.9% per year) and Turkey (-16.0% per year).

Import Prices by Country

The average men knitwear import price stood at $X per unit in 2022, which is down by -10.6% against the previous year. Overall, the import price, however, recorded resilient growth. The pace of growth appeared the most rapid in 2016 when the average import price increased by 73% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per unit), while the price for Pakistan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sudan (+875.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform