Men's knitted shirts market in Greece

Earlier Report Observations

The market for men's knitted shirts in Greece showed considerable volatility from 2018 to 2024. In physical terms, the market volume fell from 3.7 million units in 2018 to 1.3 million units in 2023, before a partial recovery to 1.7 million units in 2024. This overall decline of more than 50% was marked by a sharp contraction in 2020 and another significant drop in 2023.

Market value mirrored this unstable trend, beginning at $29.1 million in 2018 and decreasing to $20.9 million in 2021. A temporary rebound in 2022 raised the value to $27.0 million, but a subsequent decline in 2023 resulted in a final value of $26.2 million in 2024. The most pronounced decrease in both volume and value occurred in the 2020 period.

Domestic production steadily weakened, falling from 240,000 units in 2018 to 125,000 units in 2024. Concurrently, import and export flows experienced large swings, with imports reaching a high in 2019 and exports peaking in 2023, contributing to the fluctuating market size throughout the period.

Production men's knitted shirts in Greece

In value, 2017-2020, K $ US

Greece's production of men's knitted shirts has declined for the second consecutive year. In 2020, output was valued at 2 113 K $ US, representing a 27.5% decrease compared to the previous year. Between 2017 and 2020, production fell by 36.9%, which translates to an annualized decline of 14.2%. The peak value was recorded in 2018 at 3 651 K $ US, with the largest increase of 9.1% also occurring that year.

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

In kind, 2017-2020, K unit

Greece's production volume of men's knitted shirts has decreased for the second year in a row. In 2020, 160.0 K units were produced, down 22.1% from 2019. Over the 2017-2020 period, production dropped by 33%, corresponding to a compound annual growth rate (CAGR) of -12.5%. The highest volume was recorded in 2018 at 239.8 K units, with the largest increase of 0.3% also taking place that year.

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

Exports men's knitted shirts from Greece

Exports in kind, K unit

The market exhibited volatility during the observed period. Export volumes reached their lowest point in 2017 and peaked in 2019, showing a 4.3-fold difference between these years. In 2020, Greece exported 1 881 K units of men's knitted shirts, marking a sharp decline of 49.5% compared to 2019. The maximum volume was recorded in 2019 at 3 725 K units, with the largest increase of 118.9% occurring in 2018.

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

From 2017 to 2020, Italy, Bulgaria, and Cyprus were the key export partners for Greece in terms of volume. Italy accounted for 46.8% of exports, Bulgaria for 27.8%, and Cyprus for 5.5%. Together, these three countries represented 80.0% of total export flows.

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, K $ US

After two years of growth, Greece's exports of men's knitted shirts declined. In 2020, exports amounted to 5 698 K $ US, a decrease of 29.6% compared to the previous year. Over the 2017-2020 period, exports increased by 22.3%, with a compound annual growth rate (CAGR) of 6.9%. The peak value was recorded in 2019 at 8 093 K $ US, and the largest increase of 36.1% occurred in 2018.

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

Between 2017 and 2020, Italy, Bulgaria, and Cyprus formed the main cluster of export markets in value terms. Italy contributed 22.7% of export value, Bulgaria 21.0%, and Cyprus 19.3%. Collectively, these three countries accounted for 63.0% 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 men's knitted shirts to Greece

Imports in kind, K unit

Following two years of increase, Greece's import volumes of men's knitted shirts declined. In 2020, imports stood at 3 889 K units, representing a 44.3% drop compared to 2019. Over the 2017-2020 period, imports decreased by 4.1%, with a compound annual growth rate (CAGR) of -1.4%. The highest volume was recorded in 2019 at 6 982 K units, with the largest increase of 31.6% also occurring that year.

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

From 2017 to 2020, China, Bulgaria, and Spain were the primary sources of imports for Greece in terms of volume. Together, these three markets accounted for 53.9% of total import flows of men's knitted shirts.

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, K $ US

After two years of gains, Greece's import value of men's knitted shirts declined. In 2020, imports amounted to 25 575 K $ US, which is 25.1% lower than in 2019. Between 2017 and 2020, imports decreased by 11.3%, equating to an annualized decline of 3.9%. The peak value was recorded in 2019 at 34 133 K $ US, and the largest increase of 10.3% occurred in 2018.

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

During the 2017-2020 period, men's knitted shirts were imported to Greece from a diverse range of markets. Even the largest destinations—Italy, Spain, and China—together represented only 37.6% of total import value.

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

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