Source: Textile Review

In the last four and half decades, world textile and clothing's (T &C) trade increased by more than 72 times, from less than US$6 biIIion in 1962 to 412 billion in 2007. Of the US$432 billion of T &C trade, 60 percent trade is in apparel goods and the rest is in textile goods. Four and half decades ago, however, the value of world textile trade was twice that of the world apparel trade. The apparel trade has taken the lion's share of total world T &C trade. While the growth rate of T&C trade is higher than the growth rate of world agricultural trade, textile trade has grown more slowly than the trade in total manufacturing goods. The share of T &C trade in world total trade has been around 5 percent for the last four and half decades, with the share of apparel growing to exceed the share of textiles. The global trade further grew to US$ 472 billion in 2008.

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About The Authors:

The authors are associated with Faculty of Management studies, M.L. Sukhadia University, Udaipur

Originally published in: Textile Review, August-2010