Hong Kong SAR, China: Non-Knitted Men Apparel Market 2024

Non-Knitted Men Apparel Market Size in Hong Kong SAR, China

After three years of decline, the Hong Kong non-knitted men apparel market increased by 73% to $X in 2022. Overall, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +9.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Non-Knitted Men Apparel Production in Hong Kong SAR, China

In value terms, non-knitted men apparel production rose rapidly to $X in 2022 estimated in export price. Overall, production continues to indicate significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 235%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Non-Knitted Men Apparel Exports

Exports from Hong Kong SAR, China

In 2022, approx. X units of men's or boys' clothing (not knitted or crocheted) were exported from Hong Kong SAR; reducing by -22.9% against the previous year. Overall, exports recorded a abrupt decrease. The growth pace was the most rapid in 2021 with an increase of 13%. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, non-knitted men apparel exports reduced to $X in 2022. In general, exports recorded a deep setback. The pace of growth was the most pronounced in 2021 when exports increased by 14%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units), China (X units) and Australia (X units) were the main destinations of non-knitted men apparel exports from Hong Kong SAR, with a combined 45% share of total exports. Taiwan (Chinese), Japan, the Netherlands, Mexico, Macao SAR, Germany, South Korea, Singapore, Canada and Thailand lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +4.4%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Macao SAR ($X) appeared to be the largest markets for non-knitted men apparel exported from Hong Kong SAR worldwide, with a combined 50% share of total exports. South Korea, Taiwan (Chinese), Australia, Japan, Germany, the Netherlands, Singapore, Canada, Mexico and Thailand lagged somewhat behind, together comprising a further 33%.

In terms of the main countries of destination, Thailand, with a CAGR of +3.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average non-knitted men apparel export price stood at $X per unit in 2022, growing by 17% against the previous year. Over the period under review, export price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-knitted men apparel export price increased by +53.5% against 2016 indices. The most prominent rate of growth was recorded in 2020 when the average export price increased by 21%. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Macao SAR ($X per unit), while the average price for exports to Mexico ($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 Taiwan (Chinese) (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Knitted Men Apparel Imports

Imports into Hong Kong SAR, China

In 2022, supplies from abroad of men's or boys' clothing (not knitted or crocheted) increased by 9.2% to X units, rising for the second consecutive year after eight years of decline. Over the period under review, imports, however, recorded a deep contraction. Imports peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, non-knitted men apparel imports soared to $X in 2022. In general, imports, however, recorded a deep slump. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of non-knitted men apparel to Hong Kong SAR, accounting for a 75% share of total imports. Moreover, non-knitted men apparel imports from China exceeded the figures recorded by the second-largest supplier, Bangladesh (X units), more than tenfold. Vietnam (X units) ranked third in terms of total imports with a 3.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -13.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Bangladesh (+1.9% per year) and Vietnam (+7.2% per year).

In value terms, China ($X) constituted the largest supplier of men's or boys' clothing (not knitted or crocheted) to Hong Kong SAR, comprising 56% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 3.7% share of total imports. It was followed by Bangladesh, with a 2.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to -7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+7.2% per year) and Bangladesh (-1.1% per year).

Import Prices by Country

In 2022, the average non-knitted men apparel import price amounted to $X per unit, increasing by 7% against the previous year. Overall, import price indicated a remarkable increase from 2012 to 2022: its price 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, non-knitted men apparel import price increased by +80.0% against 2012 indices. The pace of growth appeared the most rapid in 2019 an increase of 15% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :