The import of looped pile knit or crochet fabric of manmade fibres to China is set to decline steadily from 2024 to 2028. The forecasted value for 2024 is $4.9296 million, dropping to $3.6067 million by 2028. This trend indicates a consistent yearly decrease with an average decline rate, or CAGR, over the five-year period. As of 2023, the actual import value formed the baseline for these forecasts.
Future trends to watch for include:
- Changes in domestic production capability which may reduce reliance on imports further.
- Adjustments in tariffs and trade policies which could impact importation volumes and costs.
- Shifts in consumer preference towards sustainable or alternative textiles influencing demand.
