Guatemala: Market for Shawls, Scarves And The Like Of Knitted Or Crocheted Textiles 2024

Market Size for Shawls, Scarves And The Like Of Knitted Or Crocheted Textiles in Guatemala

In 2022, the Guatemalan knitted shawl and scarf market increased by 6.8% to $X, rising for the seventh consecutive year after two years of decline. In general, consumption continues to indicate a remarkable increase. Over the period under review, the market reached the maximum level in 2022 and is likely to see steady growth in the near future.

Production of Shawls, Scarves And The Like Of Knitted Or Crocheted Textiles in Guatemala

In value terms, knitted shawl and scarf production totaled $X in 2022 estimated in export price. Over the period under review, production recorded a buoyant increase. The pace of growth was the most pronounced in 2013 when the production volume increased by 89% against the previous year. Knitted shawl and scarf production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Shawls, Scarves And The Like Of Knitted Or Crocheted Textiles

Exports from Guatemala

In 2022, exports of shawls, scarves and the like of knitted or crocheted textiles from Guatemala contracted sharply to X units, waning by -75% against 2021 figures. Over the period under review, exports showed a deep slump. The growth pace was the most rapid in 2020 with an increase of 2,221% against the previous year. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, knitted shawl and scarf exports reduced rapidly to $X in 2022. Overall, exports, however, posted temperate growth. The most prominent rate of growth was recorded in 2020 with an increase of 1,671%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for knitted shawl and scarf exports from Guatemala, with a 84% share of total exports. Moreover, knitted shawl and scarf exports to the United States exceeded the volume sent to the second major destination, El Salvador (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (-20.6% per year) and Costa Rica (-14.4% per year).

In value terms, the United States ($X) remains the key foreign market for shawls, scarves and the like of knitted or crocheted textiles exports from Guatemala, comprising 84% of total exports. The second position in the ranking was held by El Salvador ($X), with a 7.8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +13.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (-11.3% per year) and Costa Rica (-4.4% per year).

Export Prices by Country

In 2022, the average knitted shawl and scarf export price amounted to $X per unit, growing by 11% against the previous year. Overall, the export price posted a buoyant expansion. The most prominent rate of growth was recorded in 2019 an increase of 37%. As a result, the export price reached the peak level of $X per unit. From 2020 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was El Salvador ($X per unit), while the average price for exports to the United States ($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 El Salvador (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Shawls, Scarves And The Like Of Knitted Or Crocheted Textiles

Imports into Guatemala

Knitted shawl and scarf imports into Guatemala shrank sharply to X units in 2022, dropping by -39.2% against the year before. Over the period under review, imports saw a pronounced contraction. The most prominent rate of growth was recorded in 2021 when imports increased by 528%. As a result, imports attained the peak of X units, and then contracted markedly in the following year.

In value terms, knitted shawl and scarf imports reduced remarkably to $X in 2022. Overall, imports continue to indicate a mild reduction. The most prominent rate of growth was recorded in 2021 when imports increased by 552%. As a result, imports attained the peak of $X, and then reduced sharply in the following year.

Imports by Country

China (X units), Honduras (X units) and South Korea (X units) were the main suppliers of knitted shawl and scarf imports to Guatemala, together accounting for 89% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Honduras (with a CAGR of +92.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of shawls, scarves and the like of knitted or crocheted textiles to Guatemala, comprising 59% of total imports. The second position in the ranking was held by Honduras ($X), with a 21% share of total imports. It was followed by South Korea, with a 3.3% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Honduras (+83.3% per year) and South Korea (+68.4% per year).

Import Prices by Country

The average knitted shawl and scarf import price stood at $X per unit in 2022, with an increase of 7.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2015 when the average import price increased by 22% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+8.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform