Guatemala: Women Knitwear Market 2024

Women Knitwear Market Size in Guatemala

In 2022, the Guatemalan women knitwear market decreased by -9.5% to $X, falling for the second year in a row after nine years of growth. In general, consumption, however, saw a resilient expansion. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Women Knitwear Production in Guatemala

In value terms, women knitwear production amounted to $X in 2022 estimated in export price. Overall, production continues to indicate resilient growth. The pace of growth was the most pronounced in 2020 when the production volume increased by 42%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Women Knitwear Exports

Exports from Guatemala

In 2022, overseas shipments of women's or girls' clothing (knitted or crocheted) increased by 78% to X units, rising for the second consecutive year after four years of decline. In general, exports, however, showed a mild descent. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, women knitwear exports soared to $X in 2022. Over the period under review, total exports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +109.1% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for women knitwear exports from Guatemala, accounting for a 95% share of total exports. It was followed by El Salvador (X units), with a 2.2% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at -2.3%.

In value terms, the United States ($X) remains the key foreign market for women's or girls' clothing (knitted or crocheted) exports from Guatemala, comprising 96% of total exports. The second position in the ranking was held by El Salvador ($X), with a 2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +5.0%.

Export Prices by Country

The average women knitwear export price stood at $X per unit in 2022, picking up by 9.4% against the previous year. Overall, export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, women knitwear export price increased by +35.7% against 2017 indices. The pace of growth appeared the most rapid in 2020 an increase of 21%. The export price peaked in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to El Salvador amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+7.5%).

Women Knitwear Imports

Imports into Guatemala

Women knitwear imports into Guatemala reduced to X units in 2022, dropping by -8.1% on 2021. Over the period under review, total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +6.1% 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 +116.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 136% against the previous year. As a result, imports attained the peak of X units, and then shrank in the following year.

In value terms, women knitwear imports stood at $X in 2022. Overall, imports, however, showed a resilient expansion. The pace of growth was the most pronounced in 2021 when imports increased by 136%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest women knitwear supplier to Guatemala, accounting for a 35% share of total imports. Moreover, women knitwear imports from China exceeded the figures recorded by the second-largest supplier, Bangladesh (X units), fourfold. The third position in this ranking was taken by the United States (X units), with a 7.4% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +33.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Bangladesh (+142.3% per year) and the United States (-16.8% per year).

In value terms, China ($X) constituted the largest supplier of women's or girls' clothing (knitted or crocheted) to Guatemala, comprising 35% of total imports. The second position in the ranking was held by the United States ($X), with an 11% share of total imports. It was followed by Bangladesh, with a 7.2% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +18.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+1.1% per year) and Bangladesh (+90.5% per year).

Import Prices by Country

In 2022, the average women knitwear import price amounted to $X per unit, growing by 9.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.5%. The growth pace was the most rapid in 2020 an increase of 20% against the previous year. The import price peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for El Salvador ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+22.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform