Import of Women’s Knitwear in the United States Sees a Significant Increase to $432M in May 2023
U.S. Women Knitwear Imports
In May 2023, after three months of decline, there was significant growth in purchases abroad of women’s or girls’ clothing (knitted or crocheted), when their volume increased by 9.7% to 92M units. Over the period under review, imports, however, recorded a pronounced setback. The pace of growth appeared the most rapid in December 2022 when imports increased by 24% against the previous month. Imports peaked at 154M units in June 2022; however, from July 2022 to May 2023, imports failed to regain momentum.
In value terms, women knitwear imports expanded sharply to $432M (IndexBox estimates) in May 2023. Overall, imports, however, saw a perceptible setback. The most prominent rate of growth was recorded in January 2023 when imports increased by 14% m-o-m. Imports peaked at 821M units in August 2022; however, from September 2022 to May 2023, imports stood at a somewhat lower figure.
Imports by Country
China (30M units), Vietnam (23M units) and Indonesia (7.3M units) were the main suppliers of women knitwear imports to the United States, together comprising 65% of total imports. These countries were followed by Cambodia, Bangladesh, Mexico, India, Jordan and Sri Lanka, which together accounted for a further 22%.
From May 2022 to May 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +2.3%), while imports for the other leaders experienced a decline.
In value terms, Vietnam ($121M), China ($100M) and Cambodia ($35M) appeared to be the largest women knitwear suppliers to the United States, with a combined 59% share of total imports. Indonesia, Bangladesh, India, Jordan, Sri Lanka and Mexico lagged somewhat behind, together accounting for a further 22%.
Mexico, with a CAGR of +1.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.
Import Prices by Country
In May 2023, the women knitwear price amounted to $4.7 per unit (CIF, US), reducing by -1.8% against the previous month. Over the period under review, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in August 2022 when the average import price increased by 16% month-to-month. Over the period under review, average import prices attained the maximum at $6.1 per unit in October 2022; however, from November 2022 to May 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Jordan ($8.3 per unit), while the price for Mexico ($2.5 per unit) was amongst the lowest.
From May 2022 to May 2023, the most notable rate of growth in terms of prices was attained by Jordan (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.
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