Indian MMF textile exports at $471 mn in August 2023

15 Nov '23

2 min read

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Insights

In August 2023, Indian MMF textile exports fell to $471 million, marking a 4.8 per cent decrease from the previous year.
The overall exports from April to August 2023 also saw a 12 per cent drop, totalling $2,260 million.
Notably, MMF fabrics experienced a 15 per cent growth, contrasting with declines in man-made fibres, MMF yarns, and made-ups.

In August 2023, Indian man-made fibre (MMF) textile exports stood at $471 million, a decrease of 4.8 per cent from $495 million in August 2022, according to a monthly report by the Synthetic & Rayon Textiles Export Promotion Council (SRTEPC). This decline forms part of a broader trend observed in the April to August period of 2023, where exports totalled $2,260 million, down 12 per cent from $2,568 million in the same period in 2022.

August 2023 saw a 15 per cent growth in exports of MMF fabrics compared to the previous year. However, this growth was offset by declines in other areas, such as man-made fibres, MMF yarns, and MMF made-ups.

For the period from April to August 2023, MMF fabrics emerged as the largest exported commodity, accounting for 38 per cent of total exports. This was followed by MMF yarns at 29 per cent, MMF made-ups at 25 per cent, and man-made fibres at 8 per cent, as per the report.

In terms of specific products, the export values of polyester staple fibre (PSF) and partially oriented yarn (POY) saw significant declines, dropping 32 per cent and 55 per cent respectively, in comparison to the same period in 2022. Conversely, viscose staple fibre (VSF) exports experienced a robust growth of 83 per cent.

Polyester filament yarns (PFY) dominated the MMF yarn exports, representing 47 per cent of total exports. Poly-cotton (PC) spun yarn followed, contributing 9 per cent. MMF woven fabrics and MMF nonwoven fabrics exports grew by 4.2 per cent and 20 per cent respectively.

Geographically, the US remained the leading market for Indian MMF textiles in the April to August 2023 period, with a 15 per cent share. Turkiye followed with an 11 per cent share, with the United Arab Emirates (7 per cent) and Bangladesh (5 per cent) also being significant markets. Russia emerged as a promising market, showing an impressive 129 per cent growth in exports during this period.

Fibre2Fashion News Desk (DP)

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