Price for T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted in Pakistan - 2023
Contents:
- Price for T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted in Pakistan (FOB) - 2023
- Price for T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted in Pakistan (CIF) - 2022
- Exports of T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted in Pakistan
- Imports of T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted in Pakistan
Price for T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted in Pakistan (FOB) - 2023
In December 2023, the average export price for t-shirts, singlets and other vests; of cotton, knitted or crocheted amounted to $3.4 per unit, surging by 5.1% against the previous month. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in July 2023 an increase of 14% m-o-m. The export price peaked at $3.9 per unit in May 2023; however, from June 2023 to December 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In December 2023, the country with the highest price was China ($6.3 per unit), while the average price for exports to Gambia ($874 per thousand units) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (+2.1%), while the prices for the other major destinations experienced more modest paces of growth.
Price for T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted in Pakistan (CIF) - 2022
The average import price for t-shirts, singlets and other vests; of cotton, knitted or crocheted stood at $1.8 per unit in 2022, with a decrease of -40.1% against the previous year. In general, the import price recorded a deep reduction. The pace of growth was the most pronounced in 2014 when the average import price increased by 19%. As a result, import price attained the peak level of $3.7 per unit. From 2015 to 2022, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($3.3 per unit), while the price for Thailand ($901 per thousand units) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (-0.1%), while the prices for the other major suppliers experienced a decline.
Exports of T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted in Pakistan
In 2022, the amount of t-shirts, singlets and other vests; of cotton, knitted or crocheted exported from Pakistan rose slightly to 107M units, increasing by 4.8% compared with the previous year's figure. Overall, exports, however, saw a noticeable reduction. The most prominent rate of growth was recorded in 2021 with an increase of 42%. The exports peaked at 113M units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
In value terms, exports of t-shirts, singlets and other vests; of cotton, knitted or crocheted skyrocketed to $392M in 2022. Over the period under review, total exports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +7.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +55.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 30%. Over the period under review, the exports of attained the peak figure in 2022 and are expected to retain growth in years to come.
| Export of T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted in Pakistan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 124 | 74.1 | 141 | 170 | 11.1% |
| Germany | 39.9 | 39.4 | 40.6 | 37.2 | -2.3% |
| United Kingdom | 35.7 | 35.9 | 28.7 | 34.3 | -1.3% |
| Netherlands | 22.9 | 20.9 | 23.0 | 28.3 | 7.3% |
| China | 9.5 | 12.4 | 14.7 | 15.2 | 17.0% |
| Spain | 7.9 | 5.7 | 7.3 | 12.4 | 16.2% |
| Belgium | 5.1 | 4.4 | 7.7 | 10.3 | 26.4% |
| Italy | 5.3 | 4.1 | 6.0 | 8.0 | 14.7% |
| Canada | 4.2 | 2.8 | 4.3 | 6.4 | 15.1% |
| United Arab Emirates | 5.5 | 5.2 | 4.5 | 5.6 | 0.6% |
| Japan | 8.4 | 6.4 | 4.3 | 4.9 | -16.4% |
| Others | 45.9 | 41.3 | 47.1 | 58.9 | 8.7% |
| Total | 314 | 253 | 329 | 392 | 7.7% |
Top Export Markets for T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted from Pakistan in 2022:
- United States (50.6M units)
- Germany (9.2M units)
- United Kingdom (8.8M units)
- Netherlands (6.6M units)
- Spain (3.9M units)
- China (3.2M units)
- Italy (2.6M units)
- Belgium (2.2M units)
- Canada (1.8M units)
- United Arab Emirates (1.2M units)
- Japan (1.1M units)
Imports of T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted in Pakistan
In 2022, the amount of t-shirts, singlets and other vests; of cotton, knitted or crocheted imported into Pakistan soared to 229K units, with an increase of 45% compared with the previous year's figure. Overall, imports, however, continue to indicate a deep downturn. Imports peaked at 300K units in 2019; however, from 2020 to 2022, imports remained at a lower figure.
In value terms, imports of t-shirts, singlets and other vests; of cotton, knitted or crocheted declined to $421K in 2022. In general, imports, however, saw a precipitous decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 20% against the previous year. Imports peaked at $877K in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
| Import of T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted in Pakistan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 131 | 71.7 | 139 | 114 | -4.5% |
| Bangladesh | 383 | 96.0 | 154 | 105 | -35.0% |
| Vietnam | 42.3 | 54.3 | 31.8 | 65.6 | 15.8% |
| Turkey | 49.4 | 24.6 | 18.5 | 34.8 | -11.0% |
| Sri Lanka | 69.1 | 20.7 | 8.6 | 22.4 | -31.3% |
| Cambodia | 34.7 | 33.8 | 16.2 | 16.8 | -21.5% |
| Egypt | N/A | N/A | 2.7 | 9.6 | 255.6% |
| India | 76.7 | N/A | N/A | N/A | 0% |
| Others | 91.7 | 106 | 116 | 52.9 | -16.8% |
| Total | 877 | 407 | 487 | 421 | -21.7% |
Top Suppliers of T-Shirts, Singlets and Other Vests; of Cotton, Knitted or Crocheted to Pakistan in 2022:
- China (75.6K units)
- Bangladesh (54.4K units)
- Vietnam (32.5K units)
- Turkey (16.8K units)
- Sri Lanka (14.7K units)
- Cambodia (9.3K units)
- Egypt (4.8K units)
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