Increasing for seven consecutive years, China’s exports of socks, stockings and other women’s hosiery reached 18 billion pairs in 2023, marking a 7.5 per cent increase from the previous year. 

However, in terms of value, women's hosiery exports from China dipped marginally to $6.2 billion in 2023, according to IndexBox estimates. The United States remained the primary destination for women's hosiery exports from China, accounting for 23 per cent of total exports, valued at $4.1 billion. This volume exceeded exports to the second-largest destination, Russia, by threefold. Japan secured the third spot with a 4.7 per cent share.

In terms of volume, exports to the United States grew by a CAGR of 18.3 per cent, while exports to Russia and Japan grew by 21.1 per cent and 8.6 per cent per year, respectively.

In value terms, the United States maintained its position as the leading market, comprising 24 per cent of total exports, valued at $1.5 billion. Japan followed with a 7.6 per cent share, amounting to $470 million, and Russia held a 6 per cent share.

Export prices declined by 11.3 per cent in 2023, amounting to $0.4 per pair (FOB, China) from the previous year. Notably, prices varied significantly by destination, with Japan having the highest price per pair at $0.6, while Brazil had one of the lowest at $0.2.

From 2013 to 2023, there was a notable decline in prices for exports to the Philippines, recording a rate of -11.5 per cent, while other major destinations also experienced a decrease in prices.