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Global trade of cotton sewing thread to fall

01
Jun '20
Pic: Shutterstock
Pic: Shutterstock
The global trade of cotton sewing thread have shown a tremendous fall in the year 2019. The total trade reported a decrease of 13.39 per cent which was $238.91 million in 2017 to $206.92 million in 2019, according to data from TexPro. The total trade of cotton sewing thread has declined 18.21 per cent in 2019 compared to the trade previous year.
 
The trade is further anticipated to drop to $ 170.07 million in 2022 with a rate of 18.21 per cent from 2019, according to Fibre2Fashion's market analysis tool TexPro.
 
The global export of cotton sewing thread was $119.49 million in 2017, which declined 4.50 per cent to $114.11 million in 2019. Total exports substantially fell 10.93 per cent in 2019 over the previous year and is expected to move down to $106.49 million in 2022 with a rate of 6.68 per cent from 2019.
 
The global import value of cotton sewing thread was $119.43 million in 2017, which reduced 22.28 per cent to $92.81 million in 2019. Total imports decreased 25.68 per cent in 2019 over the previous year and is expected to grow to $63.59 million in 2022 with a rate of 31.49 per cent from 2019.
 
China ($19.77 million), Turkey ($19.66 million), Italy ($13.75 million) and India ($13.64 million) were the key exporters of cotton sewing thread across the globe in 2019, together comprising 58.56 per cent of total export. These were followed by the Spain ($5.35 million), Hong Kong ($5.08 million) and Germany ($4.24 million).
 
From 2016 to 2019, the most notable rate of growth in terms of export value, amongst the main exporting countries, was attained by Turkey (177.96 per cent).
 
US ($9.59 million), Italy ($7.88 million), Philippines ($4.88 million), and Guatemala ($4.53 million) were the key importers of cotton sewing thread across the globe in 2019, together comprising 28.96 per cent of total import. These were followed by Tunisia ($4.20 million), Spain ($3.40 million) and UK ($3.39 million).
 
From 2016 to 2019, the most notable rate of growth in terms of import value, amongst the main importing countries, was attained by Philippines (7.48 per cent) and US (6.14 per cent).

Fibre2Fashion News Desk (JL)


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