Myanmar: Knitted Fabric Market 2025

Knitted Fabric Market Size in Myanmar

In 2021, the Myanmar's knitted fabric market decreased by -7.5% to $X, falling for the second consecutive year after eight years of growth. Over the period under review, consumption, however, continues to indicate significant growth. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Knitted Fabric Exports

Exports from Myanmar

In 2021, shipments abroad of knitted or crocheted fabrics increased by 39% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 278% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, knitted fabric exports surged to $X in 2021. Overall, exports showed a buoyant increase. The pace of growth appeared the most rapid in 2013 when exports increased by 204%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Cambodia (X tons) was the main destination for knitted fabric exports from Myanmar, with a 35% share of total exports. Moreover, knitted fabric exports to Cambodia exceeded the volume sent to the second major destination, the Netherlands (X tons), fourfold. The third position in this ranking was held by Vietnam (X tons), with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Cambodia stood at +66.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (0.0% per year) and Vietnam (+119.0% per year).

In value terms, the largest markets for knitted fabric exported from Myanmar were the Netherlands ($X), Vietnam ($X) and Japan ($X), with a combined 50% share of total exports.

Among the main countries of destination, Vietnam, with a CAGR of +143.1%, recorded the highest growth rate of 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 average knitted fabric export price amounted to $X per ton, reducing by -14.7% against the previous year. Over the period under review, the export price continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2016 an increase of 17% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Cambodia ($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 Israel (+19.2%), while the prices for the other major destinations experienced more modest paces of growth.

Knitted Fabric Imports

Imports into Myanmar

After nine years of growth, supplies from abroad of knitted or crocheted fabrics decreased by -10.1% to X tons in 2021. In general, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2016 when imports increased by 101% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020, and then reduced in the following year.

In value terms, knitted fabric imports shrank to $X in 2021. Over the period under review, imports, however, enjoyed a significant expansion. The growth pace was the most rapid in 2013 with an increase of 69%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of knitted fabric to Myanmar, with a 21% share of total imports. Moreover, knitted fabric imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), threefold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a 0.3% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+39.7% per year) and Taiwan (Chinese) (-14.6% per year).

In value terms, China ($X) constituted the largest supplier of knitted or crocheted fabrics to Myanmar, comprising 13% of total imports. The second position in the ranking was taken by Thailand ($X), with a 3.8% share of total imports. It was followed by Taiwan (Chinese), with a 0.4% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+28.8% per year) and Taiwan (Chinese) (-11.6% per year).

Import Prices by Country

The average knitted fabric import price stood at $X per ton in 2021, surging by 4.8% against the previous year. Over the period under review, import price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, knitted fabric import price decreased by -2.9% against 2018 indices. The most prominent rate of growth was recorded in 2014 when the average import price increased by 34%. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :