Iran: Knitted Fabric Market 2024

Knitted Fabric Market Size in Iran

The Iranian knitted fabric market declined rapidly to $X in 2021, with a decrease of -17.7% against the previous year. The market value increased at an average annual rate of +1.4% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Knitted fabric consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Knitted Fabric Production in Iran

In value terms, knitted fabric production shrank significantly to $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 20%. Knitted fabric production peaked at $X in 2020, and then fell significantly in the following year.

Knitted Fabric Exports

Exports from Iran

In 2021, overseas shipments of knitted or crocheted fabrics increased by 57% to X tons, rising for the third year in a row after two years of decline. Overall, exports posted resilient growth. The most prominent rate of growth was recorded in 2016 when exports increased by 71%. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in years to come.

In value terms, knitted fabric exports surged to $X in 2021. In general, exports saw prominent growth. The pace of growth appeared the most rapid in 2019 when exports increased by 90% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Bulgaria (X tons) was the main destination for knitted fabric exports from Iran, accounting for a 22% share of total exports. Moreover, knitted fabric exports to Bulgaria exceeded the volume sent to the second major destination, Belarus (X tons), threefold. Azerbaijan (X tons) ranked third in terms of total exports with a 5.5% share.

From 2012 to 2021, the average annual growth rate of volume to Bulgaria was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (+1.3% per year) and Azerbaijan (+63.0% per year).

In value terms, Bulgaria ($X) emerged as the key foreign market for knitted or crocheted fabrics exports from Iran, comprising 37% of total exports. The second position in the ranking was taken by Belarus ($X), with a 17% share of total exports. It was followed by Azerbaijan, with a 5.2% share.

From 2012 to 2021, the average annual growth rate of value to Bulgaria was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (+2.4% per year) and Azerbaijan (+48.3% per year).

Export Prices by Country

In 2021, the average knitted fabric export price amounted to $X per ton, dropping by -23.3% against the previous year. Overall, export price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 when the average export price increased by 31% against the previous year. The export price peaked at $X per ton in 2020, and then shrank sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belarus ($X per ton), while the average price for exports to Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Kazakhstan (+8.3%), while the prices for the other major destinations experienced more modest paces of growth.

Knitted Fabric Imports

Imports into Iran

In 2021, purchases abroad of knitted or crocheted fabrics decreased by -3.9% to X tons, falling for the second year in a row after four years of growth. Over the period under review, total imports indicated a perceptible expansion from 2012 to 2021: its volume increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -32.9% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of 56% against the previous year. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, knitted fabric imports totaled $X in 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 74%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) was the main knitted fabric supplier to Iran, accounting for a 99% share of total imports. Moreover, knitted fabric imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), fivefold. The third position in this ranking was held by Turkey (X tons), with a 4% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+5.4% per year) and Turkey (+3.9% per year).

In value terms, China ($X) constituted the largest supplier of knitted or crocheted fabrics to Iran, comprising 98% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 13% share of total imports. It was followed by Turkey, with a 5.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-1.4% per year) and Turkey (-0.7% per year).

Import Prices by Country

In 2021, the average knitted fabric import price amounted to $X per ton, rising by 7.3% against the previous year. In general, the import price, however, saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2014 when the average import price increased by 52% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (-0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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