Thailand: Knitted Fabric Market 2025

Knitted Fabric Market Size in Thailand

The Thai knitted fabric market soared to $X in 2021, jumping by 16% against the previous year. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Knitted Fabric Production in Thailand

In value terms, knitted fabric production skyrocketed to $X in 2021 estimated in export price. Overall, production showed a remarkable increase. The pace of growth appeared the most rapid in 2019 when the production volume increased by 39%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Knitted Fabric Exports

Exports from Thailand

In 2021, exports of knitted or crocheted fabrics from Thailand surged to X tons, increasing by 19% compared with 2020. The total export volume increased at an average annual rate of +5.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when exports increased by 22% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, knitted fabric exports surged to $X in 2021. The total export value increased at an average annual rate of +4.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Vietnam (X tons), Cambodia (X tons) and Bangladesh (X tons) were the main destinations of knitted fabric exports from Thailand, with a combined 63% share of total exports. Indonesia, Germany, Myanmar, Sri Lanka, the United States, Lao People's Democratic Republic, China, India, Hong Kong SAR and Malaysia lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Myanmar (with a CAGR of +42.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for knitted fabric exported from Thailand were Vietnam ($X), Cambodia ($X) and Indonesia ($X), together accounting for 62% of total exports. Bangladesh, Sri Lanka, China, Germany, Lao People's Democratic Republic, Hong Kong SAR, Myanmar, the United States, India and Malaysia lagged somewhat behind, together comprising a further 25%.

Among the main countries of destination, Myanmar, with a CAGR of +33.9%, saw 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 knitted fabric export price stood at $X per ton in 2021, picking up by 1.8% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 15%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Myanmar ($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 Lao People's Democratic Republic (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.

Knitted Fabric Imports

Imports into Thailand

Knitted fabric imports into Thailand rose sharply to X tons in 2021, growing by 5.8% on 2020 figures. The total import volume increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 15% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, knitted fabric imports surged to $X in 2021. The total import value increased at an average annual rate of +1.7% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of knitted fabric to Thailand, with a 52% share of total imports. Moreover, knitted fabric imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), twofold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+32.3% per year) and Taiwan (Chinese) (-1.4% per year).

In value terms, the largest knitted fabric suppliers to Thailand were China ($X), Taiwan (Chinese) ($X) and Vietnam ($X), together accounting for 84% of total imports.

Among the main suppliers, Vietnam, with a CAGR of +38.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average knitted fabric import price stood at $X per ton in 2021, picking up by 12% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average import price increased by 24% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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