Puerto Rico: Baby Garment Market 2022

Baby Garment Market Size in Puerto Rico

In 2021, after three years of decline, there was significant growth in the Puerto Rican baby garment market, when its value increased by 18% to $X. In general, the total consumption indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -28.7% against 2017 indices. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Baby Garment Production in Puerto Rico

In value terms, baby garment production skyrocketed to $X in 2021 estimated in export price. Over the period under review, the total production indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -30.1% against 2017 indices. The most prominent rate of growth was recorded in 2017 with an increase of 81% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Baby Garment Exports

Exports by Country

In 2021, China (X units), distantly followed by Bangladesh (X units), India (X units), Cambodia (X units), Turkey (X units) and Vietnam (X units) represented the largest exporters of babies’ garments and clothing accessories (knitted or crocheted), together achieving 69% of total exports. The following exporters - Sri Lanka (X units), Thailand (X units), Indonesia (X units), Spain (X units), France (X units), Poland (X units) and the United States (X units) - together made up 16% of total exports.

From 2012 to 2021, the biggest increases were in Poland (with a CAGR of +20.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Bangladesh ($X) and India ($X) were the countries with the highest levels of exports in 2021, together accounting for 49% of total exports. Vietnam, Cambodia, Spain, Poland, Turkey, France, Sri Lanka, Indonesia, Thailand and the United States lagged somewhat behind, together comprising a further 30%.

Among the main exporting countries, Poland, with a CAGR of +23.2%, 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

The export price in Puerto Rico stood at less than $X per thousand units in 2021, remaining relatively unchanged against the previous year. Overall, the export price saw a relatively flat trend pattern.

Prices varied noticeably country of origin: the country with the highest price was Poland ($X per thousand units), while the United States ($X per thousand units) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+12.3%), while the other leaders experienced more modest paces of growth.

Baby Garment Imports

Imports by Country

The United States represented the largest importer of babies’ garments and clothing accessories (knitted or crocheted) in the world, with the volume of imports accounting for X units, which was approx. 33% of total imports in 2021. France (X units) held a 5.7% share (based on physical terms) of total imports, which put it in second place, followed by the UK (5.7%). The following importers - Spain (X units), Germany (X units), the United Arab Emirates (X units), Poland (X units), Italy (X units), Nigeria (X units), Japan (X units), Saudi Arabia (X units), Canada (X units) and Australia (X units) - together made up 26% of total imports.

Imports into the United States increased at an average annual rate of +4.7% from 2012 to 2021. At the same time, Nigeria (+64.2%), Poland (+16.5%), Canada (+3.7%), Spain (+3.2%), France (+2.7%) and Germany (+2.6%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing importer imported in the world, with a CAGR of +64.2% from 2012-2021. Italy experienced a relatively flat trend pattern. By contrast, the UK (-1.2%), Japan (-1.3%), the United Arab Emirates (-1.9%), Saudi Arabia (-3.6%) and Australia (-6.1%) illustrated a downward trend over the same period. While the share of the United States (+6 p.p.), Nigeria (+2.3 p.p.) and Poland (+1.7 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of Australia (-2 p.p.) and the UK (-2.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported babies’ garments and clothing accessories (knitted or crocheted) into Puerto Rico, comprising 25% of global imports. The second position in the ranking was taken by Germany ($X), with a 7.9% share of global imports. It was followed by France, with a 6.7% share.

From 2012 to 2021, the average annual growth rate of value in the United States stood at +1.2%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+7.1% per year) and France (+1.6% per year).

Import Prices by Country

The import price in Puerto Rico stood at less than $X per thousand units in 2021, remaining stable against the previous year. Overall, the import price saw a relatively flat trend pattern.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Germany ($X per thousand units), while Nigeria ($X per thousand units) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+10.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :