Ending a two-year upward trend, UK’s imports of men’s or boy’s knitted or crocheted clothes declined by 18.3 per cent to 92 million units in 2023. However, the total import volume rose at an average annual rate of 1.1 per cent from 2013 to 2023, albeit with noticeable fluctuations in certain years. The peak import volume of 128 million units was reached in 2016, but from 2017 to 2023, imports remained lower.

In terms of value, imports of men's knitwear declined to $753 million in 2023, according to IndexBox estimates. However, there had been a significant expansion in total imports from 2013 to 2023, with a value increase averaging 3.6 per cent annually over the last decade. The highest growth rate was recorded in 2022, reaching 15 per cent, leading to a peak of $978 million, followed by a sharp decline the following year.

Bangladesh, China, and Pakistan emerged as the top exporters of men's knitwear to the UK, accounting for 57 per cent of total imports. The exports of Vietnam grew at a CAGR of 17.6 per cent , outpacing other leaders.

In terms of import prices, there was a noticeable decrease in 2023, with the price per unit dropping to $8.2 (CIF, United Kingdom), marking a 6 per cent decrease from the previous year. However, over the decade, import prices had been on an upward trend, increasing at an average annual rate of 2.6 per cent. Notably, there were significant price differences among the major supplying countries, with Belgium having the highest price per unit at $24 and India among the lowest at $4.1.

China saw the most notable rate of price growth from 2013 to 2023, with an increase of 8.3 per cent, while other major suppliers experienced more modest growth rates.