Peru: Knitted Fabric Market 2024

Knitted Fabric Market Size in Peru

After three years of decline, the Peruvian knitted fabric market increased by 22% to $X in 2021. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Knitted Fabric Production in Peru

In value terms, knitted fabric production expanded sharply to $X in 2021 estimated in export price. In general, production saw a perceptible decrease. Knitted fabric production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Knitted Fabric Exports

Exports from Peru

In 2021, approx. X tons of knitted or crocheted fabrics were exported from Peru; surging by 71% against 2020. Over the period under review, total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, knitted fabric exports skyrocketed to $X in 2021. In general, total exports indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Colombia (X tons) was the main destination for knitted fabric exports from Peru, with a 50% share of total exports. Moreover, knitted fabric exports to Colombia exceeded the volume sent to the second major destination, Ecuador (X tons), fourfold. The third position in this ranking was held by Chile (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Colombia amounted to +13.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-0.5% per year) and Chile (+10.7% per year).

In value terms, Colombia ($X) remains the key foreign market for knitted or crocheted fabrics exports from Peru, comprising 55% of total exports. The second position in the ranking was held by Ecuador ($X), with a 12% share of total exports. It was followed by Bolivia, with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Colombia totaled +16.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-0.3% per year) and Bolivia (+4.0% per year).

Export Prices by Country

In 2021, the average knitted fabric export price amounted to $X per ton, picking up by 12% against the previous year. In general, the export price, however, saw a noticeable curtailment. 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 export markets. In 2021, amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to the Dominican Republic ($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 Colombia (+3.1%), while the prices for the other major destinations experienced more modest paces of growth.

Knitted Fabric Imports

Imports into Peru

For the sixth year in a row, Peru recorded growth in overseas purchases of knitted or crocheted fabrics, which increased by 19% to X tons in 2021. Overall, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +94.8% against 2013 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, knitted fabric imports soared to $X in 2021. The total import value increased at an average annual rate of +3.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) was the main supplier of knitted fabric to Peru, accounting for a 92% share of total imports. It was followed by Chile (X tons), with a 1.7% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China totaled +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+6.0% per year) and South Korea (-22.0% per year).

In value terms, China ($X) constituted the largest supplier of knitted or crocheted fabrics to Peru, comprising 90% of total imports. The second position in the ranking was held by Chile ($X), with a 1.4% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China stood at +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+2.6% per year) and South Korea (-21.9% per year).

Import Prices by Country

The average knitted fabric import price stood at $X per ton in 2021, growing by 23% against the previous year. Over the period under review, the import price, however, showed a pronounced descent. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+0.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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