Turkey: Knitted Fabric Market 2024

Knitted Fabric Market Size in Turkey

In 2021, the Turkish knitted fabric market decreased by -5.4% to $X, falling for the third consecutive year after two years of growth. The market value increased at an average annual rate of +1.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Knitted fabric consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Knitted Fabric Production in Turkey

In value terms, knitted fabric production rose remarkably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 when the production volume increased by 18%. Over the period under review, production reached the maximum level in 2021 and is likely to see steady growth in years to come.

Knitted Fabric Exports

Exports from Turkey

For the third year in a row, Turkey recorded growth in shipments abroad of knitted or crocheted fabrics, which increased by 28% to X tons in 2021. The total export volume increased at an average annual rate of +5.3% from 2012 to 2021; however, the trend pattern 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 soared to $X in 2021. The total export value increased at an average annual rate of +3.7% from 2012 to 2021; however, the trend pattern 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

Italy (X tons), Belarus (X tons) and Bulgaria (X tons) were the main destinations of knitted fabric exports from Turkey, together comprising 36% of total exports. These countries were followed by Russia, Kyrgyzstan, Serbia, Poland, Egypt, Morocco, Greece, Ukraine, Tunisia and Romania, which together accounted for a further 37%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Kyrgyzstan (with a CAGR of +43.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for knitted fabric exported from Turkey were Italy ($X), Belarus ($X) and Bulgaria ($X), together accounting for 36% of total exports. Russia, Kyrgyzstan, Morocco, Poland, Egypt, Greece, Serbia, Tunisia, Romania and Ukraine lagged somewhat behind, together accounting for a further 36%.

Among the main countries of destination, Kyrgyzstan, with a CAGR of +42.5%, 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

In 2021, the average knitted fabric export price amounted to $X per ton, rising by 11% against the previous year. In general, the export price, however, saw a mild reduction. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Tunisia ($X per ton) and Morocco ($X per ton), while the average price for exports to Ukraine ($X per ton) and Serbia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Poland (-0.1%), while the prices for the other major destinations experienced a decline.

Knitted Fabric Imports

Imports into Turkey

In 2021, supplies from abroad of knitted or crocheted fabrics increased by 21% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 29%. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, knitted fabric imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 26%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of knitted fabric to Turkey, accounting for a 45% share of total imports. Moreover, knitted fabric imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fourfold. Bulgaria (X tons) ranked third in terms of total imports with a 9.8% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+0.7% per year) and Bulgaria (+41.0% per year).

In value terms, China ($X) constituted the largest supplier of knitted or crocheted fabrics to Turkey, comprising 41% of total imports. The second position in the ranking was held by South Korea ($X), with a 12% share of total imports. It was followed by Italy, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-1.9% per year) and Italy (+6.3% per year).

Import Prices by Country

The average knitted fabric import price stood at $X per ton in 2021, picking up by 2.6% against the previous year. Overall, the import price, however, saw a perceptible decline. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Bulgaria ($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 (-2.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :