In 2018, revenue of the US knit fabric market rose 2.6 per cent. Knit fabric consumption, however, continues to indicate a relatively flat pattern. The pace of growth was the most pronounced in 2014 with an increase of 19 per cent year-on-year. In 2018, knit fabric exports from the US declined by 5.9 per cent against the previous year. Exports peaked in 2013; however, from 2014 to 2018, exports failed to regain their momentum.
Nicaragua, Honduras and Guatemala are the main destinations of knit fabric exports from the US, together accounting for 50 per cent of total exports. Mexico, France, El Salvador, the Dominican Republic, Colombia, Australia, Chile and China together account for a further 33 per cent. Among the main destinations, Australia has experienced the highest growth rate of exports, over the last five-year period, while the other leaders have experienced more modest paces of growth.
The average knit fabric export price over the last five years has increased at an average annual rate of 8.8 per cent. The growth pace was the most rapid in 2014 when the average export price increased by 22 per cent. China, India and Israel are the main suppliers of knit fabric imports to the US, together accounting for 79 per cent of total imports.