Price for T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted in Hong Kong SAR - 2024

Contents:

1. Price for T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted in Hong Kong SAR (CIF) - 2022
2. Price for T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted in Hong Kong SAR (FOB) - 2024
3. Imports of T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted in Hong Kong SAR
4. Exports of T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted in Hong Kong SAR

Price for T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted in Hong Kong SAR (CIF) - 2022

In 2022, the average import price for t-shirts, singlets and other vests; of cotton, knitted or crocheted amounted to $8 per unit, shrinking by -4.5% against the previous year. Over the period under review, the import price, however, continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2020 an increase of 21% against the previous year. Over the period under review, average import prices attained the peak figure at $8.3 per unit in 2021, and then contracted in the following year.

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 Italy ($118 per unit), while the price for Bangladesh ($3.7 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted in Hong Kong SAR (FOB) - 2024

In March 2024, the average export price for t-shirts, singlets and other vests; of cotton, knitted or crocheted amounted to $10.6 per unit, reducing by -4% against the previous month. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in November 2023 when the average export price increased by 8.5% m-o-m. Over the period under review, the average export prices hit record highs at $12.1 per unit in June 2023; however, from July 2023 to March 2024, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In March 2024, the country with the highest price was Macao SAR ($26.5 per unit), while the average price for exports to Mexico ($5.1 per unit) was amongst the lowest.

From March 2023 to March 2024, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+3.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted in Hong Kong SAR

In 2022, approx. 77M units of t-shirts, singlets and other vests; of cotton, knitted or crocheted were imported into Hong Kong SAR; remaining relatively unchanged against the previous year's figure. Overall, imports, however, showed a abrupt shrinkage. The pace of growth was the most pronounced in 2021 when imports increased by 1.6% against the previous year. Over the period under review, imports of attained the maximum at 112M units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of t-shirts, singlets and other vests; of cotton, knitted or crocheted shrank modestly to $611M in 2022. Over the period under review, imports, however, recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 4.3%. Over the period under review, imports of attained the maximum at $757M in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Top Suppliers of T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted to Hong Kong SAR in 2022:

1. China (53.4M units)
2. Bangladesh (5.4M units)
3. Vietnam (4.8M units)
4. Italy (1.2M units)
5. Cambodia (1.1M units)
6. India (0.9M units)

Exports of T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted in Hong Kong SAR

For the third consecutive year, Hong Kong SAR recorded decline in overseas shipments of t-shirts, singlets and other vests; of cotton, knitted or crocheted, which decreased by -11.8% to 48M units in 2022. Overall, exports showed a deep setback. The smallest decline of -7.7% was in 2021. The exports peaked at 84M units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, exports of t-shirts, singlets and other vests; of cotton, knitted or crocheted shrank to $514M in 2022. Over the period under review, exports showed a perceptible descent. The most prominent rate of growth was recorded in 2021 with an increase of 5.7% against the previous year. The exports peaked at $590M in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Top Export Markets for T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted from Hong Kong SAR in 2022:

1. United States (6.5M units)
2. China (5.4M units)
3. Philippines (4.3M units)
4. Mexico (3.3M units)
5. Indonesia (2.9M units)
6. Macao SAR (2.9M units)
7. Malaysia (2.2M units)
8. Australia (2.0M units)
9. Taiwan (Chinese) (1.9M units)
10. United Kingdom (1.8M units)
11. Japan (1.6M units)
12. Saudi Arabia (1.4M units)
13. Singapore (1.4M units)

Source: IndexBox Market Intelligence Platform