Market Insights Consumer Apparel Children's Apparel

Clothing Accessories & Other Clothes - Mongolia

Mongolia

In 2024, the revenue in the Clothing Accessories & Other Clothes market in Mongolia amounts to US$15.03m.
According to market projections, this segment is expected to grow annually by 3.41%, representing a Compound Annual Growth Rate (CAGR) for the period 2024-2029.
When compared to the global market, in China generates the highest revenue in this segment, with a staggering US$4,472m in 2024.
In terms of per capita figures, the revenue generated per person in Mongolia in 2024 is US$4.30.
Looking ahead to 2029, the volume in the Clothing Accessories & Other Clothes market is projected to reach 3,538.0k pieces units.
Additionally, there is an expected growth rate of 3.6% in 2025.
Furthermore, the average volume per person in the Clothing Accessories & Other Clothes market is anticipated to be 0.9pieces in 2024.
Mongolia's traditional clothing accessories, such as the deel and boots, are experiencing a revival as a symbol of national pride and cultural heritage.

Key regions: China, United States, Germany, Philippines, Indonesia

Market

Region

Region comparison

Currency

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on the consumer spending on clothing which comprises women, men, and children segments that are produced for private end customers for both offline retail (department stores, traditional specialist shops) and online retail (e-commerce, ordering by catalog).

Modeling approach / Market size:

Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use resources from the Statista platform, national statistics, industry research, market data from independent databases and third-party sources, historical developments, current trends, reported performance indicators from the key market players, and Statista interviews with market experts. Next we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, consumer price index and population. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the exponential trend smoothing illustrates suited forecasting for the Apparel market with projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional Notes :

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.