Greece: T-Shirt Market 2024

T-Shirt Market Size in Greece

The Greek t-shirt market declined remarkably to $X in 2022, shrinking by -90% against the previous year. Over the period under review, consumption continues to indicate a drastic downturn. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

T-Shirt Production in Greece

In value terms, t-shirt production shrank notably to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a sharp reduction. Over the period under review, production reached the maximum level at $X in 2021, and then dropped rapidly in the following year.

T-Shirt Exports

Exports from Greece

In 2022, approx. X units of t-shirts were exported from Greece; growing by 7.1% against the previous year's figure. Overall, exports enjoyed a strong expansion. The pace of growth was the most pronounced in 2021 when exports increased by 264%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, t-shirt exports expanded significantly to $X in 2022. The total export value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by 44% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Germany (X units), Italy (X units) and Bulgaria (X units) were the main destinations of t-shirt exports from Greece, together accounting for 48% of total exports. Belgium, Romania, the UK, Hungary, Cyprus, Spain, the Czech Republic, North Macedonia and France lagged somewhat behind, together comprising a further 45%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hungary (with a CAGR of +124.5%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Bulgaria ($X) and Italy ($X) constituted the largest markets for t-shirt exported from Greece worldwide, together accounting for 40% of total exports. The UK, Belgium, Romania, Cyprus, France, North Macedonia, Spain, Hungary and the Czech Republic lagged somewhat behind, together comprising a further 47%.

Hungary, with a CAGR of +61.6%, 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 t-shirt export price amounted to $X per unit, rising by 4.4% against the previous year. Overall, the export price, however, saw a abrupt shrinkage. The pace of growth was the most pronounced in 2018 when the average export price increased by 16% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to Hungary ($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 North Macedonia (+0.9%), while the prices for the other major destinations experienced mixed trend patterns.

T-Shirt Imports

Imports into Greece

After two years of decline, purchases abroad of t-shirts increased by 22% to X units in 2022. Over the period under review, imports, however, recorded a perceptible reduction. The pace of growth was the most pronounced in 2018 with an increase of 27%. Imports peaked at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, t-shirt imports soared to $X in 2022. In general, imports, however, saw a perceptible reduction. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of t-shirt to Greece, accounting for a 35% share of total imports. Moreover, t-shirt imports from China exceeded the figures recorded by the second-largest supplier, Bulgaria (X units), threefold. Spain (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (-7.6% per year) and Spain (-7.7% per year).

In value terms, the largest t-shirt suppliers to Greece were China ($X), Italy ($X) and Spain ($X), with a combined 47% share of total imports. Bulgaria, Belgium, Germany, the Netherlands, France, North Macedonia, Turkey, Austria, Bangladesh and the UK lagged somewhat behind, together comprising a further 45%.

Among the main suppliers, Austria, with a CAGR of +20.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average t-shirt import price amounted to $X per unit, rising by 2.1% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 25%. Over the period under review, average import prices reached the maximum 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 Italy ($X per unit), while the price for China ($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 (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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