The forecast indicates a steady decline in China's import volume of knit or crochet fabric of manmade fibers. In 2023, the import volume was 43.56 million kilograms. Year-on-year, the import volume is expected to decrease by about 7.9% in 2024, 8% in 2025, 8.4% in 2026, 9% in 2027, and 9.7% in 2028. The compound annual growth rate (CAGR) over this period suggests an average annual decrease of approximately 7.91%.
Future trends to watch for:
- Potential shifts in domestic production capacity in China that could influence import dependency.
- Changes in global trade policies or bilateral trade agreements affecting costs.
- Evolution in consumer demand for synthetic fabrics versus natural fibers.
- Technological advancements in fabric manufacturing that might reduce reliance on imports.