Global exports of rubber thread and cord grows

27 Jun '20

2 min read

Pic: Shutterstock

The global trade of rubber thread and cord (textile covered, textile yarn, and strip and the like) has shown a considerable rise in 2019. Total trade increased 25.39 per cent from $522.57 million in 2017 to $655.26 million in 2019, according to data from TexPro. The total trade of rubber thread and cord jumped 17.46 per cent in 2019 over the previous year.

Further, the total trade is anticipated to surge to $953.29 million in 2022 with a rate of 45.48 per cent from 2019, according to Fibre2Fashion's market analysis tool TexPro.

The global export of rubber thread and cord was $329.89 million in 2017, which rose 38.78 per cent to $457.81 million in 2019. However, total exports fell 27.31 per cent in 2019 over the previous year and is expected to grow to $748.46 million in 2022 with a rate of 63.49 per cent from 2019.

The global import value of rubber thread and cord was $192.68 million in 2017, which increased 2.48 per cent to $197.45 million in 2019. Total imports declined 0.41 per cent in 2019 over the previous year and is expected to grow to $204.83 million in 2022 with a rate of 3.74 per cent from 2019.

China ($351.33 million) was the key exporters of rubber thread and cord across the globe in 2019, comprising 76.74 per cent of total export. It was followed by Italy ($11.75 million), Taiwan ($9.55 million) and Hong Kong ($8.47 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 only.

Vietnam ($28.60 million), Indonesia ($17.06 million) and Cambodia ($12.02 million) were the key importers of rubber thread and cord across the globe in 2019, together comprising 29.21 per cent of total import. These were followed by the UK ($9.80 million), US ($9.36 million) and Myanmar ($8.37 million).

From 2016 to 2019, the most notable rate of growth in terms of export value, amongst the main importing countries, was attained by Cambodia and Vietnam.

Fibre2Fashion News Desk (JL)

More Textiles News - Global...