U.S. Knit Fabric Industry Sees Mixed Trends in 2024
In 2024, the U.S. knit fabric industry witnessed mixed trends. While export prices remained stable, overseas purchases and market size expanded. Meanwhile, import prices dropped, and production shrank slightly.
The average export price of knit fabrics from the U.S. stayed at $X per ton in 2024, mirroring the previous year's figure. Despite this, overseas purchases surged by X% to X tons, ending two years of decline. This increase contributed to a U.S. knit fabric market size of $X in 2024, marking an X% growth from the previous year.
On the import side, the average price of knit fabrics fell by X% to $X per ton in 2024. Consumption patterns remained relatively flat between 2013 and 2024. Production, however, saw a slight shrinkage, with U.S. knit fabric production valued at $X in 2024.
Mexico remained the top destination for U.S. knit fabric exports, capturing a X% share. However, total exports decreased by X% to X tons in 2024, following two years of growth. China, meanwhile, retained its position as the largest knit fabric supplier to the U.S., accounting for a X% share of total imports.
Notably, U.S. exports to Guatemala in knit fabrics grew at an average annual rate of approximately 7% between 2013 and 2024. This growth aligns with broader import trends in narrow woven fabrics in Latin America, where Guatemala holds about a 7% share of total imports in 2024.
In summary, 2024 saw a stable export price and increased overseas purchases in the U.S. knit fabric industry. However, production and exports decreased, and import prices fell. Mexico and China remained key players in U.S. knit fabric trade, while Guatemala showed steady growth as an export destination.
Read also:
- Ford Discontinues Popular Top-Seller in Staggering Shift, Labeled as a "Model T Event"
- 2025 Witnesses a 27% Surge in Worldwide Electric Vehicle Sales, Despite Opposition to Electrification Policies in the U.S.
- Summarized Report: Insights from the Realm of Transportation
- Recorded surge in electric vehicle registrations during the initial half of the year
