Mexico: Baby Garment Market 2024

Baby Garment Market Size in Mexico

The Mexican baby garment market dropped to $X in 2022, shrinking by -2.8% against the previous year. Overall, consumption, however, recorded a noticeable setback. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Baby Garment Production in Mexico

In value terms, baby garment production reduced to $X in 2022 estimated in export price. Over the period under review, production showed a noticeable shrinkage. The pace of growth was the most pronounced in 2014 when the production volume increased by 25% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Baby Garment Exports

Exports from Mexico

In 2022, overseas shipments of babies’ garments and clothing accessories (knitted or crocheted) increased by 29% to X units, rising for the second year in a row after three years of decline. In general, exports saw buoyant growth. The pace of growth was the most pronounced in 2021 when exports increased by 95% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, baby garment exports expanded notably to $X in 2022. Overall, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2021 when exports increased by 154% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

The United States (X units) was the main destination for baby garment exports from Mexico, accounting for a approx. 97% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +12.3%.

In value terms, the United States ($X) also remains the key foreign market for babies’ garments and clothing accessories (knitted or crocheted) exports from Mexico.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +9.1%.

Export Prices by Country

In 2022, the average baby garment export price amounted to $X per unit, declining by -13.7% against the previous year. In general, the export price recorded a perceptible slump. The most prominent rate of growth was recorded in 2021 when the average export price increased by 30%. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for Spain amounted to +0.2% per year.

Baby Garment Imports

Imports into Mexico

In 2022, overseas purchases of babies’ garments and clothing accessories (knitted or crocheted) increased by 17% to X units for the first time since 2019, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 when imports increased by 21%. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, baby garment imports soared to $X in 2022. The total import value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest baby garment supplier to Mexico, with a 51% share of total imports. Moreover, baby garment imports from China exceeded the figures recorded by the second-largest supplier, Cambodia (X units), fourfold. The third position in this ranking was held by Bangladesh (X units), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +15.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Cambodia (+6.3% per year) and Bangladesh (+9.8% per year).

In value terms, China ($X) constituted the largest supplier of babies’ garments and clothing accessories (knitted or crocheted) to Mexico, comprising 52% of total imports. The second position in the ranking was taken by Cambodia ($X), with a 13% share of total imports. It was followed by Bangladesh, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +15.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Cambodia (+6.0% per year) and Bangladesh (+9.4% per year).

Import Prices by Country

In 2022, the average baby garment import price amounted to $X per unit, surging by 8% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 8.3% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from China ($X per unit) and Vietnam ($X per unit), while the price for India ($X per unit) and Portugal ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform