Global fabric trade to recover moderately in 2021: TexPro

16 Jun '21

2 min read

Pic: Shutterstock

Global fabric exports are expected to recover moderately in 2021 as the world recovers from COVID-19 and industry stakeholders make efforts to find new strategies of doing business. Fabric exports globally were $156.14 billion in 2019 with a monthly average of $13.01 billion, which dropped by 38.95 per cent to $95.33 billion in 2020, as per TexPro.

A further drop of 3.59 per cent was observed during the period between January 2021 and April 2021, reaching a monthly average of $7.66 billion over the monthly average of $7.94 billion in 2020.

The exports are expected to rise by 16.90 per cent between May 2021 and December 2021 to a monthly average of $8.95 billion over the monthly average during the first four months of this year, according to TexPro, Fibre2Fashion’s market analysis tool.

The top importers and exporters of fabric are slowly recovering from the pandemic and are focused on their business strategies and public health. Most of the nations are focused on vaccination programmes which are boosting their economies.

China continued to be the top exporter and importer of fabric in the world. The country has overcome the pandemic strategically and boosted its trade. It is also the top importer and exporter of industry raw materials and is supplying to major end-use product manufacturers of the industry.

The other top exporters of fabric during January-April 2021 were India, the UK, Poland, Bulgaria, Taiwan, Turkey and Sweden, while top importers were Indonesia, the US, Hong Kong, Morocco, Sri Lanka, and Italy.

Fibre2Fashion News Desk (KD)

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