Philippines: Baby Garment Market 2024

Baby Garment Market Size in the Philippines

The Philippine baby garment market reduced modestly to $X in 2022, waning by X% against the previous year. Over the period under review, the total consumption indicated noticeable growth from 2012 to 2022: its value 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, consumption increased by X% against 2020 indices. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Baby Garment Production in the Philippines

In value terms, baby garment production declined to $X in 2022 estimated in export price. In general, the total production indicated tangible growth from 2012 to 2022: its value 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, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Baby Garment Exports

Exports from the Philippines

After six years of decline, shipments abroad of babies garments and clothing accessories (knitted or crocheted) increased by X% to X units in 2022. Overall, exports, however, continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, baby garment exports shrank to $X in 2022. In general, exports, however, showed a abrupt shrinkage. The pace of growth was the most pronounced in 2013 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for baby garment exports from the Philippines, with a X% share of total exports. Moreover, baby garment exports to the United States exceeded the volume sent to the second major destination, Japan (X units), twofold. Australia (X units) ranked third in terms of total exports with an X% share.

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

In value terms, the United States ($X) remains the key foreign market for babies garments and clothing accessories (knitted or crocheted) exports from the Philippines, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with a X% share of total exports. It was followed by Australia, with an 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 Australia (X% per year).

Export Prices by Country

In 2022, the average baby garment export price amounted to $X per unit, which is down by X% against the previous year. Overall, the export price, however, recorded buoyant growth. The pace of growth appeared the most rapid in 2018 an increase of X%. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the average export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the UK ($X per unit) and Japan ($X per unit), while the average price for exports to Kuwait ($X per unit) and Australia ($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 United States (X%), while the prices for the other major destinations experienced mixed trend patterns.

Baby Garment Imports

Imports into the Philippines

In 2022, supplies from abroad of babies garments and clothing accessories (knitted or crocheted) was finally on the rise to reach X units for the first time since 2017, thus ending a four-year declining trend. Over the period under review, imports recorded a strong expansion. The pace of growth was the most pronounced in 2013 with an increase of X%. Imports peaked at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, baby garment imports soared to $X in 2022. In general, imports saw significant growth. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of baby garment to the Philippines, accounting for a X% share of total imports. Moreover, baby garment imports from China exceeded the figures recorded by the second-largest supplier, Bangladesh (X units), twofold. Cambodia (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 stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Bangladesh (X% per year) and Cambodia (X% per year).

In value terms, China ($X) constituted the largest supplier of babies garments and clothing accessories (knitted or crocheted) to the Philippines, comprising X% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a X% share of total imports. It was followed by Cambodia, with a X% share.

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

Import Prices by Country

The average baby garment import price stood at $X per unit in 2022, therefore, remained relatively stable against the previous year. In general, the import price, however, showed a significant increase. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from South Korea ($X per unit) and Indonesia ($X per unit), while the price for Pakistan ($X per unit) and Bangladesh ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :