Global imports of synthetic fibre gloves expected to rise

01 May '20

2 min read

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The global trade of gloves, mittens and mits of synthetic fibres (knitted and crocheted) has decreased in the year 2019. However, it is anticipated to rise sharply in the upcoming years. Total trade of gloves, mittens and mits of synthetic fibres increased 4.50 per cent to $2,817.54 in 2019 from $2,696.30 million in 2017, according to data from TexPro.

The total trade of gloves, mittens and mits of synthetic fibres fell 5.73 per cent in 2019 over the previous year and but it is anticipated to jump to $4,803.45 million in 2022 with a rate of 70.48 per cent from 2019, according to Fibre2Fashion's market analysis tool TexPro.

The global export of gloves, mittens and mits of synthetic fibres was $1,647.54 million in 2017, which dropped 1.77 per cent to $1,618.39 million in 2019. Total exports fell 12.23 per cent in 2019 over the previous year and is expected to increase to $2,461.37 million in 2022 with a rate of 52.09 per cent from 2019.

The global import value of gloves, mittens and mits of synthetic fibres was $1,048.76 million in 2017, which grew 14.34 per cent to $1,199.15 million in 2019. Total imports rose 4.73 per cent in 2019 over the previous year and is expected to reach $2,342.09 million in 2022 with a rate of 95.31 per cent from 2019.

China ($1,220.66 million) and Indonesia ($53.85 million) were the key exporters of gloves, mittens and mits of synthetic fibres across the globe in 2019, together comprising 78.75 per cent of total export. These were followed by Germany ($43.90 million), Belgium ($40.87 million) and France ($30.55 million).

From 2016 to 2019, the most notable rate of growth in terms of export value, amongst the main exporting countries, was attained by Indonesia (185.82 per cent) and China (1.65 per cent).

US ($267.34 million), Japan ($180.77 million), Germany ($92.94 million) and France ($70.19 million) were the key importers of gloves, mittens and mits of synthetic fibres across the globe in 2019, together comprising 50.97 per cent of total import. These were followed by Canada ($53.32 million), UK ($49.35 million) and Belgium ($49.19 million).

From 2016 to 2019, the most notable rate of growth in terms of import value, amongst the main importing countries, was attained by France (32.65 per cent), Japan (22.35 per cent) and Germany (21.44 per cent).

Fibre2Fashion News Desk (JL)

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