Russian Federation: Men Knitwear Market 2024

Men Knitwear Market Size in the Russian Federation

The Russian men knitwear market fell to $X in 2022, waning by -14.6% against the previous year. In general, the total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +50.3% against 2016 indices. Men knitwear consumption peaked at $X in 2021, and then declined in the following year.

Men Knitwear Production in the Russian Federation

In value terms, men knitwear production dropped to $X in 2022 estimated in export price. In general, production showed a mild decline. The most prominent rate of growth was recorded in 2013 when the production volume increased by 186% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Men Knitwear Exports

Exports from the Russian Federation

After three years of growth, shipments abroad of men's or boys' clothing (knitted or crocheted) decreased by -7.4% to X units in 2022. Overall, exports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2013 when exports increased by 86% against the previous year. The exports peaked at X units in 2021, and then dropped in the following year.

In value terms, men knitwear exports fell to $X in 2022. In general, exports, however, continue to indicate a buoyant expansion. The growth pace was the most rapid in 2013 with an increase of 53% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then reduced in the following year.

Exports by Country

Belarus (X units), Kazakhstan (X units) and Ukraine (X units) were the main destinations of men knitwear exports from Russia, with a combined 89% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belarus (with a CAGR of +39.7%), while the other leaders experienced more modest paces of growth.

In value terms, Belarus ($X), Kazakhstan ($X) and Armenia ($X) were the largest markets for men knitwear exported from Russia worldwide, with a combined 86% share of total exports.

In terms of the main countries of destination, Belarus, with a CAGR of +35.2%, 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

The average men knitwear export price stood at $X per unit in 2022, with a decrease of -4.5% 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 2019 when the average export price increased by 23% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Armenia ($X per unit), while the average price for exports to Ukraine ($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 Belarus (-3.2%), while the prices for the other major destinations experienced a decline.

Men Knitwear Imports

Imports into the Russian Federation

In 2022, purchases abroad of men's or boys' clothing (knitted or crocheted) decreased by -14.6% to X units for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, posted prominent growth. The growth pace was the most rapid in 2021 with an increase of 42% against the previous year. As a result, imports reached the peak of X units, and then shrank in the following year.

In value terms, men knitwear imports contracted rapidly to $X in 2022. In general, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.9% 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 +73.0% against 2016 indices. The pace of growth was the most pronounced in 2021 with an increase of 48% against the previous year. As a result, imports attained the peak of $X, and then dropped rapidly in the following year.

Imports by Country

Bangladesh (X units), China (X units) and Uzbekistan (X units) were the main suppliers of men knitwear imports to Russia, with a combined 66% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Bangladesh (with a CAGR of +29.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest men knitwear suppliers to Russia were China ($X), Bangladesh ($X) and Uzbekistan ($X), with a combined 55% share of total imports.

Bangladesh, with a CAGR of +23.8%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average men knitwear import price stood at $X per unit in 2022, falling by -2% against the previous year. In general, the import price continues to indicate a pronounced decrease. The pace of growth appeared the most rapid in 2019 when the average import price increased by 12% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, 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 Cambodia ($X per unit), while the price for Uzbekistan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+3.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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