Global trade of fibres drops significantly

03 Nov '20

2 min read

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The global export of fibres marginally grew 1.49 per cent to $31,247.03 million in 2019 compared to the exports of $30,789.47 million in 2017. Total exports moved down 8.70 per cent in 2019 over the previous year, according to data from TexPro. However, the export is expected to move up to $31,595.43 million in 2022 with a rate of 1.12 per cent from 2019.

The global import value of fibres was $33,953.87 million in 2017, which declined 1.82 per cent to $33,337.22 million in 2019. Total imports dropped 11.72 per cent in 2019 over the previous year and is expected to decrease to $33,005.04 million in 2022 with a rate of 1.00 per cent from 2019, according to Fibre2Fashion's market analysis tool TexPro.

US ($6,609.16 million), Australia ($3,319.21 million), China ($3,119.66 million), Brazil ($2,735.07 million) and India ($1,997.87 million) were the key exporters of fibres across the globe in 2019, together comprising 56.90 per cent of total export. These were followed by South Korea ($1,249.88 million), Belgium ($919.71 million) and Indonesia ($883.04 million).

From 2016 to 2019, the most notable rate of growth in terms of export value, amongst the main exporting countries, was attained by Brazil (94.44 per cent), US (49.84 per cent) and China (11.12 per cent).

China ($8,617.00 million), Turkey ($2,809.67 million), Vietnam ($2,728.08 million), Italy ($2,684.40 million) and India ($2,351.46 million) were the key importers of fibres in the globe in 2019, together comprising 57.57 per cent of total import. These were followed by Indonesia ($1,624.12 million), US ($1,199.62 million) and Germany ($1,071.47 million).

From 2016 to 2019, the most notable rate of growth in terms of import value, amongst the main importing countries, was attained by India (82.27 per cent), Italy (78.93 per cent) and Vietnam (65.87 per cent).

Fibre2Fashion News Desk (JL)

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