Global trade of woven apparel down

The global export of woven apparel was $2,22,311.62 million in the year 2017 marginally moved down 2.16 per cent to $2,17,517.31 million in 2019. Total exports decreased 4.82 per cent in 2019 over the previous year, according to data from TexPro. Further, the exports is expected to drop to $2,12,527.02 million in 2022 with a rate of 2.29 per cent from 2019.

Pic: Shutterstock

The global import value of woven apparel was $1,94,799.83 million in 2017, which was surged 5.66 per cent to $2,05,829.04 million in 2019, according to Fibre2Fashion's market analysis tool TexPro. Total imports fell 1.88 per cent in 2019 over the previous year and is expected to grow to $2,13,719.70 million in 2022 with a rate of 3.83 per cent from 2019.

China ($67,749.51 million), Vietnam ($16,014.48 million), Italy ($14,989.67 million) and Germany ($12,526.88 million) were the key exporters of woven apparel across the globe in 2019, together comprising 51.16 per cent of total export. These were followed by Spain ($9,319.86 million), India ($8,369.08 million) and France ($6,967.69 million).

From 2016 to 2019, the most notable rate of growth in terms of export value, amongst the main exporting countries, was attained by Germany (42.29 per cent), Vietnam (37.60 per cent) and Italy (26.72 per cent).

US ($38,068.27 million), Germany ($19,077.62 million), Japan ($14,318.82 million), France ($12,709.17 million) and UK ($11,820.02 million) were the key importers of woven apparel in the globe in 2019, together comprising 46.64 per cent of total import. These were followed by Spain ($11,484.43 million), Italy ($8,925.33 million) and Netherlands ($8,897.66 million).

From 2016 to 2019, the most notable rate of growth in terms of import value, amongst the main importing countries, was attained by Germany (14.15 per cent), France (10.58 per cent) and Japan (5.71 per cent).

Source:Fibre2Fashion News Desk (JL)