Indonesia: Women Knitwear Market 2024

Women Knitwear Market Size in Indonesia

The Indonesian women knitwear market dropped to $X in 2022, with a decrease of -14.3% against the previous year. In general, the total consumption indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -18.9% against 2019 indices. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Women Knitwear Production in Indonesia

In value terms, women knitwear production declined slightly to $X in 2022 estimated in export price. In general, the total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.2% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 44%. Women knitwear production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Women Knitwear Exports

Exports from Indonesia

In 2022, shipments abroad of women's or girls' clothing (knitted or crocheted) increased by 63% to X units, rising for the second consecutive year after two years of decline. In general, exports enjoyed a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, women knitwear exports soared to $X in 2022. Overall, exports recorded a remarkable increase. 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 Indonesia, with a 47% share of total exports. Moreover, women knitwear exports to the United States exceeded the volume sent to the second major destination, Germany (X units), sixfold. The third position in this ranking was held by Singapore (X units), with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +12.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+25.8% per year) and Singapore (+17.7% per year).

In value terms, the United States ($X) remains the key foreign market for women's or girls' clothing (knitted or crocheted) exports from Indonesia, comprising 53% of total exports. The second position in the ranking was taken by Germany ($X), with a 7.8% share of total exports. It was followed by Singapore, with a 5.1% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+10.4% per year) and Singapore (+30.1% per year).

Export Prices by Country

The average women knitwear export price stood at $X per unit in 2022, reducing by -13.9% against the previous year. Over the period under review, the export price recorded a deep downturn. The pace of growth appeared the most rapid in 2021 when the average export price increased by 21%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per unit), while the average price for exports to Spain ($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 Singapore (+10.5%), while the prices for the other major destinations experienced a decline.

Women Knitwear Imports

Imports into Indonesia

In 2022, after two years of decline, there was significant growth in overseas purchases of women's or girls' clothing (knitted or crocheted), when their volume increased by 370% to X units. Over the period under review, imports saw a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, women knitwear imports soared to $X in 2022. Overall, imports showed a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of women knitwear to Indonesia, with a 41% share of total imports. Moreover, women knitwear imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), threefold. Bangladesh (X units) ranked third in terms of total imports with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +22.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+93.8% per year) and Bangladesh (+152.6% per year).

In value terms, China ($X) constituted the largest supplier of women's or girls' clothing (knitted or crocheted) to Indonesia, comprising 45% of total imports. The second position in the ranking was taken by Vietnam ($X), with an 11% share of total imports. It was followed by Singapore, with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +22.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+60.9% per year) and Singapore (+56.5% per year).

Import Prices by Country

The average women knitwear import price stood at $X per unit in 2022, which is down by -11.9% against the previous year. Over the period under review, the import price recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2018 when the average import price increased by 8.1%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per unit), while the price for Morocco ($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 (+0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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