Global Scenario


The world apparel market was worth US$ 345 bn in 2007. The market has grown at a rate of 8% during this decade. However, post quota the rate of growth has increased and for the last two years it has grown at a rate of 12%. There are two possibilities of growth from here on:


First, the high growth scenario with average annual growth rate of 12%-In this case, growth trajectory remains same, at 12%. This could be because of supply side push of low cost apparel from China, Bangladesh, Vietnam and other emerging suppliers. Under this scenario, world apparel exports would be worth US$ 854 bn by 2015.


Second, a moderate growth scenario with average annual growth rate of 8%-Moderation due to recession in 2008 & 2009 as also possibility of market saturation can result in growth of 8%. Under this scenario, world apparel exports would be worth US$ 640 bn by 2015.


Vision 2015 for the Apparel Sector


Thirdly, low growth scenario with average annual growth rate of 6%-In this case, under this scenario, world apparel exports would be worth US$ 550 bn by 2015.


However, with the impact of recession likely to stay till 2010 and maturing markets worldwide, the expected growth scenario is moderate, with 6% to 8% growth during the period 2009 to 2015.


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The report is published with due permission from Apparel Export Promotion Council (AEPC)