Market Insights Consumer Apparel Men's Apparel

Suits - Ethiopia

Ethiopia

In 2024, the revenue in the Suits market in Ethiopia amounts to US$53.10m.
This market is projected to experience an annual growth rate of 4.28% (CAGR 2024-2029).
When compared globally, in China generates the highest revenue in this segment, reaching US$3,064m in 2024.
In terms of per capita revenue, each person in Ethiopia is expected to generate US$0.40 in 2024.
Looking ahead, the volume in the Suits market is estimated to reach 1.3m pieces by 2029.
Furthermore, a growth rate of 5.9% is anticipated in 2025.
The average volume per person in Ethiopia's Suits market is expected to amount to 0.0pieces in 2024.
Ethiopia's suit market is experiencing a surge in demand as the country's economy continues to grow and the middle class expands.

Key regions: Germany, Malaysia, Philippines, India, Indonesia

Market

Region

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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.