Global exports of woven pile fabrics slightly down

12 Jun '20

2 min read

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The global trade of woven pile fabrics has reported a slight fall in the year 2019. The total trade marginally increased 0.14 per cent from $2,650.08 million in 2017 to $2,661.34 million in 2019, according to the data from TexPro. The total trade of woven pile fabrics has declined by 2.59 per cent in 2019 compared to the previous year.

Further the trade is anticipated to surge to $2,678.71 million in 2022 with a rate of 0.65 per cent from 2019, according to Fibre2Fashion's market analysis tool TexPro.

The global export of woven pile fabrics was $1,844.89 million in 2017, which declined 0.17 per cent to $1,841.76 million in 2019. Total exports fell 0.26 per cent in 2019 over the previous year and is expected to move down to $1,837.07 million in 2022 with a rate of 0.25 per cent from 2019.

The global import value of woven pile fabrics was $805.19 million in 2017, which grew 1.79 per cent to $819.58 million in 2019. However, total imports were down 7.49 per cent in 2019 over the previous year and is expected to grow to $841.64 million in 2022 with a rate of 2.69 per cent from 2019.

China ($1,208.86 million) and Italy ($101.26 million) were the key exporters of woven pile fabrics across the globe in 2019, together comprising 71.13 per cent of total export. These were followed by Portugal ($78.18 million), Turkey ($75.24 million) and Germany ($60.25 million).

From 2016 to 2019, the most notable rate of growth in terms of export value, amongst the main exporting countries, was attained by Italy (15.12 per cent) only.

Vietnam ($146.81 million), UK ($65.95 million) and US ($57.12 million) were the key importers of woven pile fabrics across the globe in 2019, together comprising 32.93 per cent of total import. These were followed by Italy ($44.56 million), Poland ($44.47 million) and Czech Republic ($34.58 million).

From 2016 to 2019, the most notable rate of growth in terms of export value, amongst the main importing countries, was attained by Vietnam (7.82 per cent) and US (13.10 per cent).

Fibre2Fashion News Desk (JL)

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