Vietnam: Men Knitwear Market 2024

Men Knitwear Market Size in Vietnam

The Vietnamese men knitwear market fell sharply to $X in 2022, with a decrease of X% against the previous year. Overall, consumption saw a abrupt setback. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Men Knitwear Production in Vietnam

In value terms, men knitwear production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production recorded resilient growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

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Men Knitwear Exports

Exports from Vietnam

In 2022, the amount of men's or boys' clothing (knitted or crocheted) exported from Vietnam surged to X units, rising by X% against the year before. Overall, exports posted a significant increase. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, men knitwear exports skyrocketed to $X in 2022. Over the period under review, exports showed a remarkable increase. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X units) was the main destination for men knitwear exports from Vietnam, accounting for a X% share of total exports. Moreover, men knitwear exports to the United States exceeded the volume sent to the second major destination, Japan (X units), sixfold. The third position in this ranking was held by South Korea (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and South Korea (X% per year).

In value terms, the United States ($X) remains the key foreign market for men's or boys' clothing (knitted or crocheted) exports from Vietnam, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with an X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2022, the average men knitwear export price amounted to $X per unit, with a decrease of X% against the previous year. Over the period under review, the export price faced a drastic downturn. The pace of growth appeared the most rapid in 2020 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Germany ($X per unit) and the UK ($X per unit), while the average price for exports to Belgium ($X per unit) and South Korea ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (X%), while the prices for the other major destinations experienced a decline.

Men Knitwear Imports

Imports into Vietnam

Men knitwear imports into Vietnam fell sharply to X units in 2022, reducing by X% compared with the previous year. Overall, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X units in 2021, and then dropped rapidly in the following year.

In value terms, men knitwear imports skyrocketed to $X in 2022. In general, imports, however, enjoyed a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of men knitwear to Vietnam, accounting for a X% share of total imports. Moreover, men knitwear imports from China exceeded the figures recorded by the second-largest supplier, Myanmar (X units), fourfold. Turkey (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Myanmar (X% per year) and Turkey (X% per year).

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

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

Import Prices by Country

The average men knitwear import price stood at $X per unit in 2022, jumping by X% against the previous year. Overall, the import price, however, recorded a deep setback. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, 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 Italy ($X per unit), while the price for Myanmar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lao People's Democratic Republic (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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