Hong Kong SAR, China: T-Shirt Market 2024

T-Shirt Market Size in Hong Kong SAR, China

In 2022, the Hong Kong t-shirt market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. In general, the total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. T-shirt consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

T-Shirt Production in Hong Kong SAR, China

In value terms, t-shirt production surged to $X in 2022 estimated in export price. Over the period under review, production showed significant growth. T-shirt production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

T-Shirt Exports

Exports from Hong Kong SAR, China

T-shirt exports from Hong Kong SAR fell slightly to X units in 2022, leveling off at 2021 figures. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 487% against the previous year. As a result, the exports reached the peak of X units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, t-shirt exports totaled $X in 2022. In general, exports recorded a mild curtailment. The pace of growth was the most pronounced in 2020 when exports increased by 214% against the previous year. 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 Philippines (X units), Israel (X units) and the Netherlands (X units) were the main destinations of t-shirt exports from Hong Kong SAR, with a combined 42% share of total exports. The UK, the United States, India, Germany, Singapore, the Dominican Republic, China, Australia, Fiji and Japan lagged somewhat behind, together comprising a further 40%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +50.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for t-shirt exported from Hong Kong SAR were the Netherlands ($X), Israel ($X) and the UK ($X), together accounting for 29% of total exports. China, India, the United States, Singapore, Australia, Japan, Germany, the Dominican Republic, the Philippines and Fiji lagged somewhat behind, together accounting for a further 39%.

India, with a CAGR of +46.1%, recorded 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, growing by 4.9% against the previous year. Overall, the export price, however, continues to indicate a pronounced downturn. The pace of growth was the most pronounced in 2013 when the average export price increased by 26% against the previous year. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to the Philippines ($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 Japan (+4.5%), while the prices for the other major destinations experienced mixed trend patterns.

T-Shirt Imports

Imports into Hong Kong SAR, China

T-shirt imports into Hong Kong SAR dropped to X units in 2022, which is down by -14.8% against 2021 figures. Over the period under review, imports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2016 with an increase of 15%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, t-shirt imports shrank to $X in 2022. Overall, imports recorded a pronounced decrease. The growth pace was the most rapid in 2016 with an increase of 24%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest t-shirt supplier to Hong Kong SAR, accounting for a 67% share of total imports. Moreover, t-shirt imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold. The United States (X units) ranked third in terms of total imports with a 3.4% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+10.9% per year) and the United States (+5.5% per year).

In value terms, China ($X) constituted the largest supplier of t-shirts to Hong Kong SAR, comprising 32% of total imports. The second position in the ranking was held by Italy ($X), with a 14% share of total imports. It was followed by Japan, with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to -9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+3.2% per year) and Japan (+9.7% per year).

Import Prices by Country

In 2022, the average t-shirt import price amounted to $X per unit, growing by 4.4% against the previous year. In general, import price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, t-shirt import price decreased by -3.1% against 2018 indices. The pace of growth was the most pronounced in 2014 when the average import price increased by 15%. Over the period under review, average import prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+2.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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