Thriving global denim trade, dominated by Asian economies

Further, it is anticipated that the total trade would reach $12,783.48 million in 2021 with a CAGR of 3.19 per cent from 2018, according to Fibre2Fashion's market analysis tool TexPro.

The global export of denim was $6,344.45 million in 2016, which increased by 8.50 per cent to $6,883.47 million in 2018. Total exports moved up by 5.90 per cent in 2018 over the previous year and is expected to reach $10,411.50 million in 2021 with a CAGR of 4.16 per cent from 2018.

The global export volume of denim was 837.31 thousand tonnes in 2016, which boosted by 13.02 per cent to 946.34 thousand tonnes in 2018. Total exports rose by 9.06 per cent in 2018 over the previous year and is expected to reach 1,137.09 thousand tonnes in 2021 with a CAGR of 6.31 per cent from 2018.

China ($4,219.72 million), Pakistan ($580.28 million) and India ($405.39 million) were the key exporters of denim across the globe in 2018, together comprising 75.62 per cent of total export. These were followed by Hong Kong ($367.46 million), Turkey ($338.01 million), the US ($156.63 million) and Italy ($145.65 million).

From 2013 to 2018, the most notable rate of growth in terms of export value, amongst the main exporting countries, was attained by China (171.19 per cent) and India (31.81 per cent).

China (571.47 thousand tonnes), India (72.51 thousand tonnes) and Pakistan (56.48 thousand tonnes) were the key exporters of denim across the globe in 2018, together comprising 79.86 per cent of total export. These were followed by Hong Kong (55.32 thousand tonnes), Turkey (41.23 thousand tonnes), the US (23.40 thousand tonnes) and Mexico (19.79 thousand tonnes).

From 2013 to 2018, the most notable rate of growth in terms of export volume, amongst the main exporting countries, was attained by Pakistan and India.

Fibre2Fashion News Desk (JL)