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Global exports of cotton fabrics significantly down

28
Aug '20
Pic: Shutterstock
Pic: Shutterstock
The global export of cotton fabrics has decreased 17.95 per cent to $32,990.56 million in the year 2019 compared to $40,206.37 million in 2017. Whereas, total exports slipped 18.17 per cent in 2019 over the previous year. Further, the exports is expected to move up to $34,925.72 million in 2022 with a rate of 5.87 per cent compared to 2019.
 
The global import value of cotton fabrics was $19,189.97 million in 2017, which dropped 13.27 per cent to $16,643.85 million in 2019, according to Fibre2Fashion's market analysis tool TexPro
 
Total imports plunged 16.48 per cent in 2019 over the previous year and is expected to rise to $17,121.28 million in 2022 with a rate of 2.87 per cent from 2019.
 
China ($20,770.82 million), Pakistan ($2,050.20 million) and India ($1,942.07 million) were the key exporters of cotton fabrics across the globe in 2019, together comprising 75.06 per cent of total export. These were followed by Italy ($1,036.42 million), Turkey ($909.16 million) and Hong Kong ($645.09 million).
 
From 2016 to 2019, the most notable rate of growth in terms of export value, amongst the main exporting countries, was attained by China (47.80 per cent) and India (9.57 per cent).
 
Vietnam ($3,222.64 million), Cambodia ($925.06 million) and Indonesia ($737.76 million) were the key importers of cotton fabrics in the globe in 2019, together comprising 29.35 per cent of total import. These were followed by China ($708.42 million), US ($676.24 million) and Italy ($627.95 million).
 
From 2016 to 2019, the most notable rate of growth in terms of import value, amongst the main importing countries, was attained by Cambodia (73.27 per cent) and Vietnam (39.80 per cent).

Fibre2Fashion News Desk (JL)


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