Peru: Baby Garment Market 2024

Baby Garment Market Size in Peru

The Peruvian baby garment market contracted to $X in 2022, with a decrease of -15% against the previous year. Overall, consumption saw a pronounced downturn. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Baby Garment Production in Peru

In value terms, baby garment production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production saw a slight shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 21% against the previous year. Baby garment production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Baby Garment Exports

Exports from Peru

In 2022, baby garment exports from Peru dropped to X units, waning by -4.6% against 2021. In general, exports continue to indicate a noticeable descent. The growth pace was the most rapid in 2021 when exports increased by 44% against the previous year. Over the period under review, the exports hit record highs at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, baby garment exports reached $X in 2022. Overall, exports saw a perceptible downturn. The pace of growth was the most pronounced in 2021 when exports increased by 41% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units), Chile (X units) and Ecuador (X units) were the main destinations of baby garment exports from Peru, together comprising 86% of total exports.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +5.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for babies’ garments and clothing accessories (knitted or crocheted) exports from Peru, comprising 67% of total exports. The second position in the ranking was held by Chile ($X), with an 11% share of total exports. It was followed by Ecuador, with a 4.5% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +3.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+3.1% per year) and Ecuador (+0.0% per year).

Export Prices by Country

The average baby garment export price stood at $X per unit in 2022, with an increase of 9.4% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 66% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

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 Venezuela ($X per unit), while the average price for exports to Chile ($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 Venezuela (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Baby Garment Imports

Imports into Peru

Baby garment imports into Peru fell remarkably to X units in 2022, dropping by -79.8% compared with 2021. Overall, imports saw a abrupt decline. The most prominent rate of growth was recorded in 2013 with an increase of 50%. Over the period under review, imports reached the maximum at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, baby garment imports reduced rapidly to $X in 2022. Over the period under review, imports faced a abrupt slump. The pace of growth was the most pronounced in 2013 when imports increased by 37%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest baby garment supplier to Peru, accounting for a 65% share of total imports. Moreover, baby garment imports from China exceeded the figures recorded by the second-largest supplier, Bangladesh (X units), fourfold. The third position in this ranking was taken by India (X units), with a 4.7% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -13.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Bangladesh (+16.8% per year) and India (+9.9% per year).

In value terms, China ($X) constituted the largest supplier of babies’ garments and clothing accessories (knitted or crocheted) to Peru, comprising 63% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a 14% share of total imports. It was followed by India, with a 6.8% share.

From 2012 to 2022, the average annual growth rate of value from China stood at -13.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Bangladesh (+10.8% per year) and India (+8.1% per year).

Import Prices by Country

The average baby garment import price stood at $X per unit in 2022, with an increase of 17% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average import price increased by 17% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform