Estonia: Knitted Fabric Market 2024

Knitted Fabric Market Size in Estonia

In 2022, the Estonian knitted fabric market increased by X% to $X, rising for the second consecutive year after three years of decline. Overall, consumption posted a tangible expansion. Knitted fabric consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Knitted Fabric Production in Estonia

In value terms, knitted fabric production dropped to $X in 2022 estimated in export price. Overall, production continues to indicate a deep setback. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Knitted Fabric Exports

Exports from Estonia

In 2022, approx. X tons of knitted or crocheted fabrics were exported from Estonia; waning by X% against the year before. Overall, exports recorded a abrupt descent. The pace of growth was the most pronounced in 2013 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, knitted fabric exports dropped sharply to $X in 2022. In general, exports saw a deep contraction. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Lithuania (X tons) was the main destination for knitted fabric exports from Estonia, accounting for a X% share of total exports. Moreover, knitted fabric exports to Lithuania exceeded the volume sent to the second major destination, Finland (X tons), fourfold. Latvia (X tons) ranked third in terms of total exports with a X% share.

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

In value terms, the largest markets for knitted fabric exported from Estonia were Lithuania ($X), Sri Lanka ($X) and Finland ($X), together comprising X% of total exports.

Among the main countries of destination, Sri Lanka, with a CAGR of X%, saw the highest growth rate of 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 average knitted fabric export price stood at $X per ton in 2022, increasing by X% against the previous year. In general, the export price, however, showed a slight descent. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while the average price for exports to Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sri Lanka (X%), while the prices for the other major destinations experienced more modest paces of growth.

Knitted Fabric Imports

Imports into Estonia

In 2022, after two years of growth, there was significant decline in overseas purchases of knitted or crocheted fabrics, when their volume decreased by X% to X tons. Overall, imports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2013 when imports increased by X%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, knitted fabric imports dropped to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Denmark (X tons), Belgium (X tons) and China (X tons) were the main suppliers of knitted fabric imports to Estonia, with a combined X% share of total imports. Turkey, Romania, Italy, Latvia, the Netherlands, Poland, Germany, Finland, Taiwan (Chinese) and the Czech Republic lagged somewhat behind, together accounting for a further X%.

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

In value terms, Denmark ($X) constituted the largest supplier of knitted or crocheted fabrics to Estonia, comprising X% of total imports. The second position in the ranking was taken by Latvia ($X), with an X% share of total imports. It was followed by China, with a X% share.

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

Import Prices by Country

In 2022, the average knitted fabric import price amounted to $X per ton, with an increase of X% against the previous year. Overall, import price indicated a strong expansion from 2012 to 2022: its price 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, knitted fabric import price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2014 an increase of X%. The import price peaked in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Denmark ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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