Knitted T-shirts and vests market in Latvia

Earlier Report Observations

The market for knitted T-shirts and vests in Latvia grew from 4.7 million pieces in 2018 to 6.9 million pieces in 2024. The culturally significant textile sector, with its historical export focus on EU countries, provided a foundation for market expansion through active regional trade in the early part of the period.

From 2022, global demand for sustainable and natural fiber products stimulated further growth. Local fashion initiatives like Riga Fashion Week promoted Latvian knitwear expertise and eco-friendly materials, boosting consumer interest and contributing to the market's peak value of $32.8 million in 2023, a year where the segment for women's knitted garments showed notable growth.

Geopolitical factors, including EU sanctions affecting traditional trade channels, introduced market adjustments. Concurrently, stable import prices in 2024 supported continued volume growth even as the market value saw a slight correction, reflecting the ongoing influence of broader European trade dynamics and consumer preferences for sustainable fashion.

Production knitted T-shirts and vests in Latvia

In value, 2018-2021, K $ US

In 2021, Latvia's output of knitted T-shirts and vests was valued at 3 748 thousand US dollars, marking a sharp increase of 68.1% compared to the previous year. Production grew by 98% between 2018 and 2021, which translates to an annualized growth rate of 25.6%. The largest decline occurred in 2020, when production fell by 14.1%.

Annual dynamics of production in Latvia in value, 2018-2021, K $ US

In kind, 2018-2021, K unit

In 2021, Latvia produced 369.1 thousand units of knitted T-shirts and vests, representing a 10.4% increase from the previous year. Over the period from 2018 to 2021, production decreased by 2.7%, with a compound annual growth rate of 0.9%. The minimum production level was recorded in 2020 at 334.4 thousand units, while the maximum was in 2019 at 424.7 thousand units. The largest decline occurred in 2020, with a drop of 21.3%, and the largest increase was in 2019, with a rise of 12.0%.

Annual dynamics of production in Latvia in kind, 2018-2021, K unit

Exports knitted T-shirts and vests from Latvia

Exports in kind, K unit

Latvia's exports of knitted T-shirts and vests declined in 2021 after two consecutive years of growth. In 2021, exports amounted to 1 106 thousand units, which is 17.4% lower than in 2020. Over the period from 2018 to 2021, exports increased by 54.4%, with a compound annual growth rate of 15.6%. The maximum export volume was recorded in 2020 at 1 338 thousand units, and the largest increase occurred in 2019, with a jump of 66.5%.

Annual dynamics of product's exports from Latvia in kind, 2018-2021, K unit

From 2018 to 2021, Russia, Estonia, and Lithuania were the core markets for Latvia's exports of knitted T-shirts and vests in kind. Russia accounted for 30.9% of exports, Estonia for 17.5%, and Lithuania for 13.4%. Together, these three countries represented 61.7% of total export flows.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Latvia in kind, 2018-2021

Exports in value, K $ US

The data shows irregular changes, indicating a volatile market environment. Exports reached their lowest point in 2018 and peaked in 2020, with a 2.3-fold difference between these years. In 2021, the value of exported knitted T-shirts and vests from Latvia was 14 680 thousand US dollars, showing only a marginal fluctuation compared to 2020. The maximum value was recorded in 2020 at 14 761 thousand US dollars, and the largest increase occurred in 2019, with a rise of 73.5%.

Annual dynamics of product's exports from Latvia in value, 2018-2021, K $ US

From 2018 to 2021, Russia, Estonia, and Lithuania were the main destinations for Latvia's exports of knitted T-shirts and vests in value terms. Russia accounted for 38.3% of exports, Estonia for 16.4%, and Lithuania for 10.7%. Together, these three countries made up 65.5% of total export value.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Latvia in value, 2018-2021

Imports knitted T-shirts and vests to Latvia

Imports in kind, K unit

Latvia's imports of knitted T-shirts and vests declined in 2021 after two years of growth. In 2021, imports registered 6 881 thousand units, representing a moderate decrease of 4.3% compared to 2020. Between 2018 and 2021, imports increased by 35.8%, equating to an annualized growth rate of 10.7%. The maximum import volume was recorded in 2020 at 7 190 thousand units, and the largest increase occurred in 2019, with a rise of 25.4%.

Annual dynamics of product's imports to Latvia in kind, 2018-2021, K unit

From 2018 to 2021, Poland, Germany, and Lithuania formed the main cluster of markets for Latvia's imports of knitted T-shirts and vests in kind. Poland accounted for 37.5% of imports, Germany for 15.6%, and Lithuania for 6.5%. Together, these three countries represented 59.5% of total import flows.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Latvia in kind, 2018-2021

Imports in value, K $ US

Latvia's imports of knitted T-shirts and vests increased for the third consecutive year in 2021. In that year, Latvia imported approximately 39 461 thousand US dollars worth of these goods, corresponding to a solid year-on-year advance of 13.5%. Over the period from 2018 to 2021, imports increased by 67.4%, with a compound annual growth rate of 18.7%.

Annual dynamics of product's imports to Latvia in value, 2018-2021, K $ US

From 2018 to 2021, Poland, Germany, and Italy led the structure of Latvia's imports of knitted T-shirts and vests in value terms. Poland accounted for 20.2% of imports, Germany for 17.4%, and Italy for 13.2%. Together, these three countries represented 50.9% of total import flows.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Latvia in value, 2018-2021