Knitted T-shirts and vests market in Greece

Earlier Report Observations

The market volume for knitted T-shirts and vests in Greece expanded to 56.8 million units in 2019 from 48.8 million units in 2018, then contracted to 38.2 million units in 2020 and further to 31.1 million units in 2021.

Import volumes peaked at 91.4 million units in 2019 before declining sharply in 2020-2021. Exports followed a similar drop in 2020 but partially recovered in 2021-2022. In 2023, export volumes fell to 15.2 million units as inflationary pressures in Europe reduced foreign demand, while domestic retail sales of apparel increased. By 2024, imports rose again to 55.1 million units, supported by a 2.5% growth in domestic clothing sales and a significant shift toward online purchases.

During the latter part of the period, Greek companies focused on developing innovative knit products with an emphasis on comfort, style, and sustainability. A legislative ban on single-use plastics also introduced new packaging requirements for products, and vocational education programs added specializations in garment design and knitwear production.

Production knitted T-shirts and vests in Greece

In value, 2017-2020, K $ US

Greece's production of knitted T-shirts and vests has declined for the third consecutive year. In 2020, output was valued at 30 295 thousand US dollars, marking a significant 10.5% decrease compared to 2019. Over the period from 2017 to 2020, production fell by 34.2%, with a compound annual growth rate of -13.0%.

Annual dynamics of production in Greece in value, 2017-2020, K $ US

In kind, 2017-2020, K unit

Greece's production volume of knitted T-shirts and vests has declined for the third consecutive year. In 2020, 3 752 thousand units were produced, down by 12.7% year-over-year. Between 2017 and 2020, production decreased by 39.4%, equating to an annualized rate of -15.4%.

Annual dynamics of production in Greece in kind, 2017-2020, K unit

Exports knitted T-shirts and vests from Greece

Exports in kind, K unit

After a two-year advance, exports of knitted T-shirts and vests from Greece declined. In 2020, exports were recorded at 17 220 thousand units, marking a reduction of 55.7% compared to 2019. Between 2017 and 2020, exports decreased by 20.7%, equating to an annualized rate of -7.4%. The largest increase was recorded in 2018 at 38.0%, while the maximum value was reached in 2019 with 38 860 thousand units.

Annual dynamics of product's exports from Greece in kind, 2017-2020, K unit

From 2017 to 2020, Italy, Bulgaria, and Germany were the principal buyers of knitted T-shirts and vests from Greece, accounting for 32.1%, 22.9%, and 12.2% of exports in kind, respectively. Together, these three countries represented 67.3% of total exports in kind.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Greece in kind, 2017-2020

Exports in value, M $ US

After a two-year uptick, cross-border shipments of knitted T-shirts and vests from Greece declined. In 2020, exports stood at 70.2 million US dollars, which is 16.5% lower than the previous year. Over the period from 2017 to 2020, exports decreased by 8.3%, with a compound annual growth rate of -2.9%. The largest increase was recorded in 2019 at 5.3%, while the maximum value was reached in the same year at 84.1 million US dollars.

Annual dynamics of product's exports from Greece in value, 2017-2020, M $ US

Throughout 2017 to 2020, Germany, Italy, and Bulgaria formed the core of exports in value terms, accounting for 25.6%, 14.5%, and 11.2% of exports, respectively. Together, these three countries took 51.4% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Greece in value, 2017-2020

Imports knitted T-shirts and vests to Greece

Imports in kind, K unit

After a two-year rise, Greece's import volume of knitted T-shirts and vests declined. In 2020, imports reached 51 667 thousand units, down by 43.5% year-over-year. Over the period from 2017 to 2020, imports decreased by 15.8%, with a compound annual growth rate of -5.6%. The largest increase was recorded in 2019 at 24.2%, while the maximum value was reached in the same year at 91 398 thousand units.

Annual dynamics of product's imports to Greece in kind, 2017-2020, K unit

The data for 2017 to 2020 indicate that imports in kind of knitted T-shirts and vests to Greece were not concentrated on a few key destinations. China, Turkey, and Bangladesh accounted for 20.5%, 12.6%, and 12.4% of imports in kind, respectively, jointly representing only 45.5% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Greece in kind, 2017-2020

Imports in value, M $ US

After a two-year rise, imports of knitted T-shirts and vests to Greece declined. In 2020, import volume totaled 181.2 million US dollars, which is 23.6% lower compared to the previous year. Over the period from 2017 to 2020, imports decreased by 9.4%, with a compound annual growth rate of -3.2%. The largest increase was recorded in 2019 at 13.4%, while the maximum value was reached in the same year at 237.2 million US dollars.

Annual dynamics of product's imports to Greece in value, 2017-2020, M $ US

From 2017 to 2020, imports in value terms of knitted T-shirts and vests to Greece were widely dispersed across partner countries. Italy, Spain, and Bulgaria accounted for 16.2%, 13.9%, and 8.7% of imports in value terms, respectively, together representing only 38.8% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Greece in value, 2017-2020