Global trade of cotton fabrics to decline

08 Jun '20

2 min read

Pic: Shutterstock

The global trade of cotton fabrics, containing 85.00 per cent more by weight of cotton, have shown a tremendous fall in 2019. Total trade decreased 18.16 per cent from $43,889.80 million in 2017 to $35,919.86 million in 2019, according to data from TexPro. The total trade of cotton fabrics fell 19.22 per cent in 2019 over the previous year.

Further the trade is anticipated to drop to $26,644.54 million in 2022 with a rate of 25.82 per cent from 2019, according to Fibre2Fashion's market analysis tool TexPro.

The global export of cotton fabrics was $29,946.90 million in 2017, which declined 19.93 per cent to $23,979.91 million in 2019. Total exports substantially dropped 20.20 per cent in 2019 over the previous year and is expected to move down to $17,182.69 million in 2022 with a rate of 28.35 per cent from 2019.

The global import value of cotton fabrics was $13,942.90 million in 2017, which decreased 14.37 per cent to $11,939.95 million in 2019. Total imports were down 17.15 per cent in 2019 over the previous year and is expected to plunge to $9,461.85 million in 2022 with a rate of 20.75 per cent from 2019.

China ($14,903.78 million), India ($1,589.60 million) and Pakistan ($1,387.33 million) were the key exporters of cotton fabrics across the globe in 2019, together comprising 74.57 per cent of total export. These were followed by Italy ($747.31 million), Turkey ($663.59 million) and Germany ($511.44 million).

From 2016 to 2019, the most notable rate of growth in terms of export value, amongst the main exporting countries, was attained by India (12.42 per cent).

Vietnam ($2,116.63 million), US ($549.05 million), Cambodia ($544.85 million) and Italy ($525.56 million) were the key importers of cotton sewing thread across the globe in 2019, together comprising 31.29 per cent of total import. These were followed by Indonesia ($521.49 million), China ($478.77 million) and Sri Lanka ($397.18 million).

Fibre2Fashion News Desk (JL)

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