Thailand: Men Knitwear Market 2025

Men Knitwear Market Size in Thailand

The Thai men knitwear market rose markedly to $X in 2022, with an increase of 15% against the previous year. In general, consumption posted a buoyant expansion. Men knitwear consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Men Knitwear Production in Thailand

In value terms, men knitwear production reduced to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% 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 2019 when the production volume increased by 37%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Men Knitwear Exports

Exports from Thailand

Men knitwear exports from Thailand declined to X units in 2022, with a decrease of -5.3% compared with the previous year. Over the period under review, exports saw a slight decrease. The pace of growth was the most pronounced in 2019 when exports increased by 18% against the previous year. Over the period under review, the exports hit record highs at X units in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, men knitwear exports dropped slightly to $X in 2022. The total export value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 22% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for men knitwear exports from Thailand, accounting for a 50% share of total exports. Moreover, men knitwear exports to the United States exceeded the volume sent to the second major destination, Belgium (X units), fourfold. The third position in this ranking was held by Germany (X units), with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to -2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+10.8% per year) and Germany (+2.9% per year).

In value terms, the United States ($X) remains the key foreign market for men's or boys' clothing (knitted or crocheted) exports from Thailand, comprising 48% of total exports. The second position in the ranking was taken by Belgium ($X), with a 17% share of total exports. It was followed by Germany, with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+16.0% per year) and Germany (+5.8% per year).

Export Prices by Country

In 2022, the average men knitwear export price amounted to $X per unit, rising by 1.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The growth pace was the most rapid in 2017 when the average export price increased by 25% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Togo ($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 the UK (+8.6%), while the prices for the other major destinations experienced more modest paces of growth.

Men Knitwear Imports

Imports into Thailand

In 2022, overseas purchases of men's or boys' clothing (knitted or crocheted) were finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports recorded buoyant growth. The growth pace was the most rapid in 2017 when imports increased by 90%. Imports peaked at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, men knitwear imports soared to $X in 2022. In general, imports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2015 with an increase of 67% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of men knitwear to Thailand, accounting for a 79% share of total imports. Moreover, men knitwear imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), ninefold. The third position in this ranking was taken by Bangladesh (X units), with a 3.1% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+30.5% per year) and Bangladesh (+26.4% per year).

In value terms, China ($X) constituted the largest supplier of men's or boys' clothing (knitted or crocheted) to Thailand, comprising 48% of total imports. The second position in the ranking was held by Vietnam ($X), with an 18% share of total imports. It was followed by Cambodia, with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +13.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+34.5% per year) and Cambodia (+2.1% per year).

Import Prices by Country

The average men knitwear import price stood at $X per unit in 2022, jumping by 19% against the previous year. Over the period under review, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 an increase of 76%. As a result, import price attained the peak level of $X per unit. From 2017 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 Cambodia ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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