Latin America and the Caribbean: Knitted Fabric Market 2024

Knitted Fabric Market Size in Latin America and the Caribbean

In 2021, after three years of decline, there was significant growth in the Latin American knitted fabric market, when its value increased by 26% to $X. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Knitted Fabric Production in Latin America and the Caribbean

In value terms, knitted fabric production rose markedly to $X in 2021 estimated in export price. In general, production saw a slight decline. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Knitted Fabric Exports

Exports in Latin America and the Caribbean

In 2021, the amount of knitted or crocheted fabrics exported in Latin America and the Caribbean soared to X tons, with an increase of 41% on the year before. Total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, knitted fabric exports skyrocketed to $X in 2021. Total exports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Guatemala (X tons), distantly followed by El Salvador (X tons), Honduras (X tons), Peru (X tons), Brazil (X tons) and Colombia (X tons) represented the major exporters of knitted or crocheted fabrics, together comprising 92% of total exports. Paraguay (X tons) held a relatively small share of total exports.

From 2012 to 2021, the biggest increases were recorded for Paraguay (with a CAGR of +68.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Guatemala ($X), El Salvador ($X) and Honduras ($X) constituted the countries with the highest levels of exports in 2021, together accounting for 64% of total exports. These countries were followed by Peru, Brazil, Colombia and Paraguay, which together accounted for a further 29%.

In terms of the main exporting countries, Paraguay, with a CAGR of +69.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, surging by 2.4% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the export price increased by 14%. Over the period under review, the export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Paraguay ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Honduras (+10.5%), while the other leaders experienced mixed trends in the export price figures.

Knitted Fabric Imports

Imports in Latin America and the Caribbean

In 2021, after two years of decline, there was significant growth in supplies from abroad of knitted or crocheted fabrics, when their volume increased by 39% to X tons. The total import volume increased at an average annual rate of +4.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, knitted fabric imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico (X tons) and Brazil (X tons) represented roughly 37% of total imports in 2021. Nicaragua (X tons) held a 10% share (based on physical terms) of total imports, which put it in second place, followed by Guatemala (7.7%), Argentina (6.2%), Colombia (5.5%), El Salvador (5.5%) and Peru (5.2%). Haiti (X tons), Chile (X tons), Ecuador (X tons), Honduras (X tons) and Venezuela (X tons) held a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Haiti (with a CAGR of +28.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest knitted fabric importing markets in Latin America and the Caribbean were Mexico ($X), Nicaragua ($X) and Brazil ($X), together accounting for 46% of total imports. El Salvador, Guatemala, Haiti, Argentina, Colombia, Peru, Honduras, Ecuador, Chile and Venezuela lagged somewhat behind, together comprising a further 49%.

Haiti, with a CAGR of +26.7%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, remaining constant against the previous year. In general, the import price, however, showed a pronounced decline. The most prominent rate of growth was recorded in 2019 an increase of 0.7%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was El Salvador ($X per ton), while Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by El Salvador (+2.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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