Sri Lanka: Women Knitwear Market 2025

Women Knitwear Market Size in Sri Lanka

The Sri Lankan women knitwear market surged to $X in 2022, jumping by 135% against the previous year. In general, consumption enjoyed buoyant growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Women Knitwear Production in Sri Lanka

In value terms, women knitwear production fell slightly to $X in 2022 estimated in export price. Overall, the total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.4% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 39%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Women Knitwear Exports

Exports from Sri Lanka

In 2022, the amount of women's or girls' clothing (knitted or crocheted) exported from Sri Lanka declined remarkably to X units, which is down by -23.4% compared with 2021 figures. Overall, total exports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when exports increased by 41% against the previous year. The exports peaked at X units in 2021, and then fell dramatically in the following year.

In value terms, women knitwear exports contracted markedly to $X in 2022. The total export value increased at an average annual rate of +4.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 47%. As a result, the exports reached the peak of $X, and then contracted remarkably in the following year.

Exports by Country

The United States (X units), the UK (X units) and Germany (X units) were the main destinations of women knitwear exports from Sri Lanka, together comprising 67% of total exports. Belgium, France, Italy, Ireland, Spain, Canada, Slovakia, the Netherlands, India and the United Arab Emirates lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +43.8%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for women's or girls' clothing (knitted or crocheted) exports from Sri Lanka, comprising 44% of total exports. The second position in the ranking was taken by the UK ($X), with a 17% share of total exports. It was followed by Belgium, with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+1.4% per year) and Belgium (+9.7% per year).

Export Prices by Country

In 2022, the average women knitwear export price amounted to $X per unit, with an increase of 4.1% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 14%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

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 Canada ($X per unit), while the average price for exports to Slovakia ($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 Canada (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.

Women Knitwear Imports

Imports into Sri Lanka

In 2022, purchases abroad of women's or girls' clothing (knitted or crocheted) increased by 29% to X units, rising for the second consecutive year after two years of decline. In general, imports, however, continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2016 when imports increased by 52% against the previous year. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, women knitwear imports surged to $X in 2022. Over the period under review, imports, however, faced a deep downturn. The most prominent rate of growth was recorded in 2021 with an increase of 52%. 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

Bangladesh (X units), India (X units) and Pakistan (X units) were the main suppliers of women knitwear imports to Sri Lanka, together accounting for 95% of total imports.

From 2012 to 2022, the biggest increases were recorded for Pakistan (with a CAGR of +18.5%), while purchases for the other leaders experienced a decline.

In value terms, Bangladesh ($X), India ($X) and Pakistan ($X) constituted the largest women knitwear suppliers to Sri Lanka, with a combined 91% share of total imports.

Among the main suppliers, Pakistan, with a CAGR of +21.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average women knitwear import price amounted to $X per unit, dropping by -9.5% against the previous year. Overall, the import price continues to indicate a pronounced slump. The most prominent rate of growth was recorded in 2019 when the average import price increased by 5%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 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 Indonesia ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+20.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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