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Global trade of gloves coated with plastics to rise

30 Apr '20
2 min read
Pic: Shutterstock
Pic: Shutterstock

The global trade of gloves, mittens and mits (knitted and crocheted/impregnated, coated or covered with plastics or rubber) has been showing consistent rise from 2016 to 2018. But the trade fell in 2019 and is expected to move up in the upcoming period. Total trade increased 4.22 per cent from 2017 to 2019, according to data from TexPro. 
 
The global trade of gloves, mittens and mits was $6,006.23 million in 2017, which moved up to $6,259.55 million in 2019. 
 
The total trade of gloves, mittens and mits has dropped 4.21 per cent in 2019 over the previous year and is anticipated to grow to $6,712.40 million in 2022 with a rate of 7.23 per cent from 2019, according to Fibre2Fashion's market analysis tool TexPro.
 
The global export of gloves, mittens and mits was $3,583.79 million in 2017, which decreases 1.34 per cent to $3,535.88 million in 2019. Total exports reduced 8.76 per cent in 2019 over the previous year and is expected to drop to $3,465.21 million in 2022 with a rate of 2.00 per cent from 2019.
 
The global import value of gloves, mittens and mits was $2,422.44 million in 2017, which increased 12.44 per cent to $2,723.68 million in 2019. Total imports rose 2.42 per cent in 2019 over the previous year and is expected to jump to $3,247.19 million in 2022 with a rate of 19.22 per cent from 2019.
 
China ($2,155.45 million), Sri Lanka ($320.28 million) and Belgium ($183.12 million) were the key exporters of gloves, mittens and mits across the globe in 2019, together comprising 75.20 per cent of total export. These were followed by Pakistan ($127.71 million), Malaysia ($123.18 million) and South Korea ($100.73 million).
 
From 2016 to 2019, the most notable rate of growth in terms of export value, amongst the main exporting countries, was attained by Sri Lanka (29.95 per cent) and China (6.81 per cent).
 
US ($678.49 million), Germany ($278.45 million), Japan ($189.19 million), France ($175.56 million) and Belgium ($169.19 million) were the key importers of gloves, mittens and mits across the globe in 2019, together comprising 54.74 per cent of total import. These were followed by UK ($108.98 million), Poland ($91.03 million) and Netherlands ($85.41 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 (28.05 per cent), France (25.07 per cent) and Belgium (21.04 per cent).

Fibre2Fashion News Desk (JL)

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