Global trade of knitted apparel expected to drop

27 Oct '20

2 min read

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The global export of knitted apparel grew 1.53 per cent from $2,22,156.94 million in the year 2017 to $2,25,563.75 million in 2019. Total exports dropped 2.52 per cent in 2019 over the previous year, according to data from TexPro. Further, the export is expected to move down to $2,20,388.87 million in 2022 with a rate of 2.29 per cent from 2019.

The global import value of knitted apparel was $1,96,505.46 million in 2017, which surged 5.39 per cent to $2,07,090.81 million in 2019, according to Fibre2Fashion's market analysis tool TexPro. Total imports decreased marginally 1.63 per cent in 2019 over the previous year and is expected to plunge to $2,04,811.15 million in 2022 with a rate of 1.10 per cent from 2019.

China ($77,578.24 million), Vietnam ($15,363.12 million), Germany ($11,345.81 million) and Italy ($10,738.62 million) were the key exporters of knitted apparel across the globe in 2019, together comprising 50.99 per cent of total export. These were followed by Turkey ($9,197.28 million), India ($7,882.22 million) and Cambodia ($7,842.53 million).

From 2016 to 2019, the most notable rate of growth in terms of export value, amongst the main exporting countries, was attained by Vietnam (45.61 per cent), Italy (43.90 per cent) and Spain (38.84 per cent).

US ($46,659.25 million), Germany ($19,410.31 million), Japan ($13,681.02 million) and UK ($12,324.65 million) were the key importers of knitted apparel in the globe in 2019, together comprising 44.46 per cent of total import. These were followed by France ($11,832.33 million), Spain ($9,372.66 million) and Netherlands ($8,831.09 million).

From 2016 to 2019, the most notable rate of growth in terms of import value, amongst the main importing countries, was attained by UK (8.95 per cent), Japan (2.69 per cent) and Germany (16.38 per cent).

Fibre2Fashion News Desk (JL)

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