Nepal: Women Knitwear Market 2024

Women Knitwear Market Size in Nepal

The Nepalese women knitwear market skyrocketed to $X in 2022, surging by 47% against the previous year. Overall, consumption continues to indicate buoyant growth. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Women Knitwear Production in Nepal

In value terms, women knitwear production fell to $X in 2022 estimated in export price. Over the period under review, production, however, showed significant growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by 638%. Women knitwear production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Women Knitwear Exports

Exports from Nepal

In 2022, overseas shipments of women's or girls' clothing (knitted or crocheted) increased by 198% to X units, rising for the second year in a row after five years of decline. In general, exports saw moderate growth. The pace of growth was the most pronounced in 2021 with an increase of 292%. Over the period under review, the exports attained the maximum at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, women knitwear exports skyrocketed to $X in 2022. Overall, exports enjoyed a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for women knitwear exports from Nepal, accounting for a 32% share of total exports. Moreover, women knitwear exports to the United States exceeded the volume sent to the second major destination, Germany (X units), twofold. The third position in this ranking was held by the Netherlands (X units), with a 7.9% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +18.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+9.0% per year) and the Netherlands (+15.6% per year).

In value terms, Germany ($X), the United States ($X) and the Netherlands ($X) appeared to be the largest markets for women knitwear exported from Nepal worldwide, together comprising 59% of total exports.

In terms of the main countries of destination, Germany, with a CAGR of +29.5%, recorded 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 2022, the average women knitwear export price amounted to $X per unit, with an increase of 65% against the previous year. Over the period under review, export price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, women knitwear export price increased by +88.7% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+18.7%), while the prices for the other major destinations experienced more modest paces of growth.

Women Knitwear Imports

Imports into Nepal

In 2022, supplies from abroad of women's or girls' clothing (knitted or crocheted) increased by 271% to X units, rising for the second consecutive year after three years of decline. In general, imports, however, recorded a abrupt decline. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, women knitwear imports skyrocketed to $X in 2022. Over the period under review, imports, however, continue to indicate a deep downturn. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) was the main supplier of women knitwear to Nepal, accounting for a 95% share of total imports. Moreover, women knitwear imports from China exceeded the figures recorded by the second-largest supplier, India (X units), more than tenfold. The third position in this ranking was held by Bangladesh (X units), with a 0.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-34.2% per year) and Bangladesh (-18.2% per year).

In value terms, China ($X) constituted the largest supplier of women's or girls' clothing (knitted or crocheted) to Nepal, comprising 95% of total imports. The second position in the ranking was taken by India ($X), with a 2.5% share of total imports. It was followed by Bangladesh, with a 0.6% share.

From 2012 to 2022, the average annual growth rate of value from China totaled -7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-41.1% per year) and Bangladesh (-20.8% per year).

Import Prices by Country

In 2022, the average women knitwear import price amounted to $X per unit, picking up by 34% against the previous year. Over the period under review, the import price, however, saw a pronounced decline. The import price peaked at $X per unit in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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 South Korea ($X per unit), while the price for Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+1.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform