Mexico: Women Hosiery Market 2024

Women Hosiery Market Size in Mexico

The Mexican women hosiery market declined to $X in 2022, flattening at the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 7.6%. Women hosiery consumption peaked at $X in 2021, and then shrank in the following year.

Women Hosiery Production in Mexico

In value terms, women hosiery production shrank modestly to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 5.2%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Women Hosiery Exports

Exports from Mexico

In 2022, exports of socks, stockings and other women's hosiery from Mexico surged to X pairs, jumping by 101% against the previous year. Over the period under review, exports showed a relatively flat trend pattern. The exports peaked at X pairs in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, women hosiery exports skyrocketed to $X in 2022. Overall, exports, however, showed a noticeable reduction. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X pairs) was the main destination for women hosiery exports from Mexico, accounting for a 90% share of total exports. Moreover, women hosiery exports to the United States exceeded the volume sent to the second major destination, Guatemala (X pairs), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States was relatively modest.

In value terms, the United States ($X) remains the key foreign market for socks, stockings and other women's hosiery exports from Mexico, comprising 93% of total exports. The second position in the ranking was taken by Guatemala ($X), with a 5.7% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to -3.0%.

Export Prices by Country

The average women hosiery export price stood at $X per pair in 2022, reducing by -35.3% against the previous year. Over the period under review, the export price recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2020 an increase of 17% against the previous year. Over the period under review, the average export prices attained the maximum at $X per pair in 2021, and then contracted notably in the following year.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per pair), while the average price for exports to Guatemala stood at $X per pair.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (-2.8%), while the prices for the other major destinations experienced a decline.

Women Hosiery Imports

Imports into Mexico

Women hosiery imports into Mexico soared to X pairs in 2022, rising by 25% compared with the previous year's figure. Over the period under review, imports showed a resilient expansion. The pace of growth was the most pronounced in 2018 when imports increased by 52%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, women hosiery imports expanded notably to $X in 2022. Overall, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +65.5% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 50%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X pairs) constituted the largest supplier of women hosiery to Mexico, accounting for a 81% share of total imports. Moreover, women hosiery imports from China exceeded the figures recorded by the second-largest supplier, the United States (X pairs), tenfold. Turkey (X pairs) ranked third in terms of total imports with a 3.8% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +25.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-5.6% per year) and Turkey (+16.7% per year).

In value terms, China ($X) constituted the largest supplier of socks, stockings and other women's hosiery to Mexico, comprising 76% of total imports. The second position in the ranking was taken by the United States ($X), with a 12% share of total imports. It was followed by Turkey, with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +26.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-10.8% per year) and Turkey (+16.0% per year).

Import Prices by Country

In 2022, the average women hosiery import price amounted to $X per pair, with a decrease of -11.6% against the previous year. Over the period under review, the import price showed a abrupt shrinkage. The pace of growth was the most pronounced in 2014 when the average import price increased by 12%. Over the period under review, average import prices hit record highs at $X per pair in 2012; however, from 2013 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 the United States ($X per pair), while the price for China ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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