ASEAN: T-Shirt Market 2024

T-Shirt Market Size in ASEAN

The ASEAN t-shirt market skyrocketed to $X in 2022, picking up by X% against the previous year. In general, consumption, however, showed a deep contraction. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

T-Shirt Production in ASEAN

In value terms, t-shirt production expanded remarkably to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

T-Shirt Exports

Exports in ASEAN

In 2022, the amount of t-shirts exported in ASEAN fell dramatically to X units, reducing by X% on 2021 figures. In general, exports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports attained the peak of X units, and then declined rapidly in the following year.

In value terms, t-shirt exports shrank modestly to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam was the major exporter of t-shirts in ASEAN, with the volume of exports recording X units, which was approx. X% of total exports in 2022. Thailand (X units) ranks second in terms of the total exports with a X% share, followed by Cambodia (X%), Indonesia (X%) and Malaysia (X%). The following exporters - Myanmar (X units) and Singapore (X units) - together made up X% of total exports.

From 2012 to 2022, average annual rates of growth with regard to t-shirt exports from Vietnam stood at X%. At the same time, Myanmar (X%), Thailand (X%), Malaysia (X%), Cambodia (X%), Singapore (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2022. While the share of Vietnam (X p.p.), Thailand (X p.p.) and Myanmar (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Indonesia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest t-shirt supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Cambodia ($X), with a X% share of total exports. It was followed by Indonesia, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Vietnam amounted to X%. In the other countries, the average annual rates were as follows: Cambodia (X% per year) and Indonesia (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2022, picking up by X% against the previous year. Overall, the export price, however, saw a abrupt shrinkage. The level of export peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while Thailand ($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 (X%), while the other leaders experienced a decline in the export price figures.

T-Shirt Imports

Imports in ASEAN

In 2022, purchases abroad of t-shirts decreased by X% to X units, falling for the third consecutive year after two years of growth. Total imports indicated a mild increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, t-shirt imports expanded notably to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Malaysia (X units), Singapore (X units), Indonesia (X units), Thailand (X units) and Vietnam (X units) represented roughly X% of total imports in 2022. It was distantly followed by the Philippines (X units), committing a X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest t-shirt importing markets in ASEAN were Singapore ($X), Malaysia ($X) and Indonesia ($X), together accounting for X% of total imports. Vietnam, Thailand and the Philippines lagged somewhat behind, together comprising a further X%.

Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2022, with an increase of X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum at $X per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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