Wool and fine hair knitted jerseys market in Portugal

Earlier Report Observations

From 2018 to 2023, the market volume for wool and fine hair knitted jerseys in Portugal experienced significant fluctuations. After a high of 3.95 million units in 2018, volume dropped to 2.25 million units in 2020, then recovered to 3.35 million units in 2021 and peaked at 4.07 million units in 2022 before stabilizing at 4.01 million units in 2023. The rebound in 2021 was driven by renewed consumer interest in traditional knitwear after American designer Tory Burch launched a piece inspired by the 'poveira' sweater, highlighting cultural heritage. The further growth in 2022 coincided with a 23.2% expansion in Portugal's clothing retail market, indicating broader consumer spending on apparel.

Cultural and regulatory developments shaped the market landscape. The certification of 'poveira' sweaters established production standards to protect their authenticity, allowing innovation while respecting tradition. In 2022, the Portuguese government enacted a decree regulating leather authenticity, which affected labeling for clothing and accessories, emphasizing transparency. Consumer preferences continued shifting towards natural fibers like wool due to environmental concerns about synthetic materials, supporting demand for high-quality knitwear.

The textile industry's focus on technological innovation, digitalization, and sustainability provided a foundation for competitiveness. Projects like Cork-A-Tex, which incorporates cork waste into textiles, showcased Portugal's commitment to circular economy. Automation and AI adoption improved production efficiency. However, in 2023, demand cooled in some segments due to economic impacts from the war in Ukraine, affecting market volume. By 2024, the sector showed signs of recovery, with international brands increasingly choosing Portugal for production, valued for its quality and innovation.

Production wool and fine hair knitted jerseys in Portugal

In value, 2018-2021, K $ US

In 2021, Portugal's output of wool and fine hair knitted jerseys was valued at 64 347 thousand US dollars, representing a significant increase of 37.4% compared to 2020.

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

In kind, 2018-2021, K unit

In 2021, Portugal produced 3 594 thousand units of wool and fine hair knitted jerseys, marking a 16.0% rise from the previous year. Over the period from 2018 to 2021, production decreased by 7.7%, with a compound annual growth rate of 2.6%.

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

Exports wool and fine hair knitted jerseys from Portugal

Exports in kind, K unit

The market exhibited volatility during the observed period. Export volumes bottomed out in 2018 and peaked in 2020, with a 2.6-fold difference between these years. In 2021, Portugal's export volume of wool and fine hair knitted jerseys totaled 1 575 thousand units, down by 28.6% compared to 2020. The maximum volume was recorded in 2020 at 2 205 thousand units, while the largest increase occurred in 2019 with a growth of 135.3%.

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

From 2018 to 2021, Spain, France, and the United Kingdom were consistently the main destinations for Portugal's exports in kind. Spain accounted for 32.8% of exports, France for 23.4%, and the United Kingdom for 19.9%, together making up 76.1% of total export flows.

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

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

Exports in value, K $ US

Portugal's exports of wool and fine hair knitted jerseys increased for the third consecutive year. In 2021, exports reached 50 785 thousand US dollars, up by 37.2% compared to 2020. Over the period from 2018 to 2021, exports grew by 46.9%, with a compound annual growth rate of 13.7%.

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

From 2018 to 2021, France, Spain, and the United Kingdom were the primary destinations for Portugal's exports in value terms. France absorbed 38.2% of exports, Spain 18.1%, and the United Kingdom 11.6%, together accounting for 67.9% of total export value.

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

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

Imports wool and fine hair knitted jerseys to Portugal

Imports in kind, K unit

The data shows irregular changes, indicating a volatile market environment. Import volumes reached their lowest point in 2018 and peaked in 2019, with a 2.3-fold difference between these years. In 2021, Portugal imported 1 335 thousand units of wool and fine hair knitted jerseys, a slight decrease of 1.8% from the previous year. The maximum volume was recorded in 2019 at 2 145 thousand units. The largest decline occurred in 2020 with a drop of 36.7%, while the largest increase was in 2019 with a growth of 134.0%.

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

From 2018 to 2021, Spain, Italy, and the Netherlands were the principal suppliers of wool and fine hair knitted jerseys to Portugal in kind. Spain accounted for 49.4% of imports, Italy for 18.6%, and the Netherlands for 7.3%, jointly making up 75.2% of total imports.

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

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

Imports in value, K $ US

In 2021, Portugal's imports of wool and fine hair knitted jerseys totaled 31 562 thousand US dollars, up by 10.5% year-over-year. The minimum value was recorded in 2020 at 28 568 thousand US dollars, while the maximum was in 2019 at 33 301 thousand US dollars. The largest decline occurred in 2020 with a decrease of 14.2%.

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

From 2018 to 2021, Spain, Italy, and France were the primary suppliers of wool and fine hair knitted jerseys to Portugal in value terms. Spain accounted for 38.7% of imports, Italy for 25.4%, and France for 10.6%, together representing 74.7% of total import value.

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

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