World textile trade takes a hit, exports and imports slump

September 08, 2015 - Global

World export trade in textile and clothing declined by 7.32 per cent from $316.06 billion during Jan-May 2014 to $292.93 billion during Jan-May 2015, the Cotton Textiles Export Promotion Council (Texprocil) said in its Overview of Current Trade in Textiles & Clothing. The document cites figures from Global Trade Information Services, Inc. (GTIS) Geneva, a leading supplier of international merchandise trade data.

Amongst the top ten markets, Vietnam reported the highest growth of 10.04 per cent followed by Bangladesh reporting second highest growth rate of 2.17 per cent during Jan-May 2015. India reported a decline of 7.58 per cent with exports falling from $17.39 billion in Jan-May 2014 to $16.07 billion in Jan-May 2015 China being the largest exporter with $99.76 billion showed a decline of 3.91 per cent followed by Italy with 17.44 per cent.

Textiles and clothing import trade reported a decline of 7.37 per cent from $274.42 billion during Jan-May 2014 to $254.19 billion during Jan-May 2015. During the period Jan-May 2015, USA was the largest importer and recorded a growth of 3.99 per cent. In Europe, Germany, UK , France and Italy reported negative growth. Vietnam which ranked 8th on the list, recorded a growth of 2.39 per cent during Jan-May 2015. (SH)