Global trade of long pile fabrics decline

17 Apr '20

2 min read

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The global trade of long pile fabrics (knitted and crocheted) has shown a sharp decline in 2019 after the strong gain in 2018. The total trade has dropped 1.32 per cent from 2017 to 2019, according to the data from TexPro. The global trade of long pile fabrics was $1,129.15 million in 2017, which moved down to $1,114.26 million in 2019.

The total trade of long pile fabrics has reduced 10.23 per cent in 2019 over the previous year and is anticipated to drop to $1,103.99 million in 2022 with a rate of 0.92 per cent from 2019, according to Fibre2Fashion's market analysis tool TexPro.

The global export of long pile fabrics was $702.51 million in 2017, which increased 4.51 per cent to $734.22 million in 2019. Total exports decreased 8.69 per cent in 2019 over the previous year and is expected to rise to $784.49 million in 2022 with a rate of 6.85 per cent from 2019.

The global import value of long pile fabrics was $426.64 million in 2017, which reduced 10.92 per cent to $380.03 million in 2019. Total imports fell 13.05 per cent in 2019 over the previous year and is expected to weaken to $319.50 million in 2022 with a rate of 15.93 per cent from 2019.

China ($490.25 million) and Italy ($64.02 million) were the key exporters of long pile fabrics across the globe in 2019, together comprising 75.49 per cent of total export. These were followed by South Korea ($39.92 million), Taiwan ($19.44 million) and Germany ($17.86 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 (33.86 per cent).

Mexico ($67.71 million), Paraguay ($36.23 million), Morocco ($28.52 million) and Italy ($25.95 million) were the key importers of long pile fabrics across the globe in 2019, together comprising 41.68 per cent of total import. These were followed by Turkey ($16.34 million), Russia ($15.69 million) and US ($12.93 million).

From 2016 to 2019, the most notable rate of growth in terms of import value, amongst the main importing countries, was attained by Morocco (356.59 per cent) and Paraguay (130.20 per cent).

Fibre2Fashion News Desk (JL)

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