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Traditional textile powers losing share in US market
25 Nov '11
1 min read
Traditional large textile powers like China, India and Pakistan, which account for a large share in cotton textiles imported by the US, are losing their share in the US market.
The total exports of cotton products from China to the US showed a substantial decline of 16.80 percent year-on-year during January to September this year, while exports from Pakistan diminished by 14.28 percent year-on-year, and those from India were down 8.28 percent year-on-year.
In recent period, consumption of cotton textiles has been declining in the US and its import of cotton products from other countries fell 11.18 percent year-on-year during the first nine months of current year.
However, US cotton item imports from new textile powers like Bangladesh, Indonesia and Vietnam have not seen a significant decline and have even been on a rise in some cases.
Thus, traditional textile powers like China, India and Pakistan are rapidly losing their competitive advantage in global cotton textile markets like the US, while the new textile powers are able to make in-roads owing to their low cost of labour, and favourable textile industrial policies and exchange rates.
The total exports of cotton products from China to the US showed a substantial decline of 16.80 percent year-on-year during January to September this year, while exports from Pakistan diminished by 14.28 percent year-on-year, and those from India were down 8.28 percent year-on-year.
In recent period, consumption of cotton textiles has been declining in the US and its import of cotton products from other countries fell 11.18 percent year-on-year during the first nine months of current year.
However, US cotton item imports from new textile powers like Bangladesh, Indonesia and Vietnam have not seen a significant decline and have even been on a rise in some cases.
Thus, traditional textile powers like China, India and Pakistan are rapidly losing their competitive advantage in global cotton textile markets like the US, while the new textile powers are able to make in-roads owing to their low cost of labour, and favourable textile industrial policies and exchange rates.
Fibre2fashion News Desk - India
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