Nepal: Men Knitwear Market 2024

Men Knitwear Market Size in Nepal

The Nepalese men knitwear market contracted to $X in 2022, declining by X% against the previous year. Overall, consumption, however, continues to indicate a resilient increase. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Men Knitwear Production in Nepal

In value terms, men knitwear production fell modestly to $X in 2022 estimated in export price. Overall, production, however, showed strong growth. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Men Knitwear Exports

Exports from Nepal

In 2022, shipments abroad of men's or boys' clothing (knitted or crocheted) increased by X% to X units, rising for the second year in a row after two years of decline. In general, exports recorded slight growth. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, men knitwear exports skyrocketed to $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

India (X units) was the main destination for men knitwear exports from Nepal, accounting for a X% share of total exports. Moreover, men knitwear exports to India exceeded the volume sent to the second major destination, the United States (X units), fourfold. The third position in this ranking was taken by Spain (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to India stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Spain (X% per year).

In value terms, India ($X) emerged as the key foreign market for men's or boys' clothing (knitted or crocheted) exports from Nepal, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports. It was followed by Spain, with a X% share.

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

Export Prices by Country

The average men knitwear export price stood at $X per unit in 2022, which is down by X% against the previous year. In general, the export price showed a mild curtailment. The most prominent rate of growth was recorded in 2017 when the average export price increased by X%. The export price peaked at $X per unit in 2021, and then plummeted in the following year.

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

Men Knitwear Imports

Imports into Nepal

In 2022, the amount of men's or boys' clothing (knitted or crocheted) imported into Nepal declined significantly to X units, with a decrease of X% compared with the year before. In general, imports continue to indicate a abrupt contraction. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, men knitwear imports expanded markedly to $X in 2022. Over the period under review, imports continue to indicate a noticeable decrease. The growth pace was the most rapid in 2021 with an increase of X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), India (X units) and Vietnam (X units) were the main suppliers of men knitwear imports to Nepal, together comprising X% of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, China ($X), India ($X) and Vietnam ($X) appeared to be the largest men knitwear suppliers to Nepal, with a combined X% share of total imports.

India, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average men knitwear import price stood at $X per unit in 2022, surging by X% against the previous year. Over the period under review, the import price continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

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

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

Source: IndexBox Platform

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