Greece: Knitting Machines Market 2024

Knitting Machines Market Size in Greece

After two years of growth, the Greek knitting machines market decreased by -64.9% to $X in 2021. Over the period under review, consumption recorded a perceptible contraction. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Knitting Machines Exports

Exports from Greece

In 2021, after two years of growth, there was significant decline in shipments abroad of knitting machineses, when their volume decreased by -19.6% to X units. In general, exports, however, saw a slight expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 840% against the previous year. As a result, the exports reached the peak of X units, and then dropped markedly in the following year.

In value terms, knitting machines exports dropped markedly to $X in 2021. Overall, exports faced a deep setback. The growth pace was the most rapid in 2020 when exports increased by 460%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Romania (X units) was the main destination for knitting machines exports from Greece, with a 69% share of total exports. Moreover, knitting machines exports to Romania exceeded the volume sent to the second major destination, Italy (X units), fourfold. The third position in this ranking was held by Germany (X units), with a 3.1% share.

From 2012 to 2021, the average annual growth rate of volume to Romania totaled +75.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+11.6% per year) and Germany (+2.3% per year).

In value terms, Romania ($X) emerged as the key foreign market for knitting machineses exports from Greece, comprising 69% of total exports. The second position in the ranking was held by Italy ($X), with a 9.9% share of total exports. It was followed by the UK, with a 5.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Romania amounted to +45.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-13.3% per year) and the UK (-19.2% per year).

Export Prices by Country

In 2021, the average knitting machines export price amounted to $X per unit, dropping by -19% against the previous year. Over the period under review, the export price recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2018 when the average export price increased by 17% against the previous year. The export price peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was India ($X per unit), while the average price for exports to Italy ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+11.6%), while the prices for the other major destinations experienced a decline.

Knitting Machines Imports

Imports into Greece

In 2021, overseas purchases of knitting machineses decreased by -62.6% to X units for the first time since 2018, thus ending a two-year rising trend. In general, imports, however, posted a significant increase. The pace of growth appeared the most rapid in 2019 when imports increased by 553% against the previous year. Imports peaked at X units in 2020, and then declined significantly in the following year.

In value terms, knitting machines imports fell sharply to $X in 2021. Overall, imports, however, showed a modest expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 268% against the previous year. Over the period under review, imports hit record highs at $X in 2020, and then dropped rapidly in the following year.

Imports by Country

Israel (X units), India (X units) and Germany (X units) were the main suppliers of knitting machines imports to Greece, with a combined 60% share of total imports. China, Italy, Bulgaria, Romania, Spain and Taiwan (Chinese) lagged somewhat behind, together comprising a further 23%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of +231.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and Italy ($X) were the largest knitting machines suppliers to Greece, together comprising 61% of total imports. Bulgaria, Romania, India, Israel, Taiwan (Chinese) and Spain lagged somewhat behind, together comprising a further 18%.

Romania, with a CAGR of +338.0%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average knitting machines import price stood at $X per unit in 2021, increasing by 56% against the previous year. Over the period under review, the import price, however, showed a precipitous decline. Over the period under review, average import prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Taiwan (Chinese) ($X per unit), while the price for Israel ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+32.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform