Global trade of looped pile fabrics to rise

16 Apr '20

2 min read

Pic: Shutterstock

The global trade of the looped pile fabrics (knitted and crocheted) have been showing consistent growth since 2016. The total trade has increased 7.63 per cent from the year 2017 to 2019, according to the data from TexPro. The global trade of looped pile fabrics was $1,353.39 million in 2017, which moved up to $1,456.70 million in 2019.

The total trade of the looped pile fabrics has slightly grown 0.78 per cent in 2019 over the previous year and is anticipated to boost to $1,632.80 million in 2022 with a rate of 12.09 per cent from 2019, according to Fibre2Fashion's market analysis tool TexPro.

The global export of the looped pile fabrics was $972.82 million in 2017, which increased 4.62 per cent to $1,017.76 million in 2019. Total exports fell 0.95 per cent in 2019 over the previous year and is expected to escalate to $1,089.08 million in 2022 with a rate of 7.01 per cent from 2019.

The global import value of the looped pile fabrics was $380.57 million in 2017, which jumped 15.34 per cent to $438.94 million in 2019. Total imports rose 5.05 per cent in 2019 over the previous year and is expected to $543.71 million in 2022 with a rate of 23.87 per cent from 2019.

China ($554.89 million) and Malaysia ($132.19 million) were the key exporters of the looped pile fabrics across the globe in 2019, together comprising 67.51 per cent of total export. These were followed by South Korea ($50.84 million), US ($38.78 million) and Taiwan ($36.20 million).

From 2016 to 2019, the most notable rate of growth in terms of export value, amongst the main exporting countries, was attained by Malaysia (59.49 per cent) and China (38.69 per cent).

Indonesia ($66.23 million), US ($58.07 million), China ($38.78 million) and Singapore ($34.23 million) were the key importers of looped pile fabrics across the globe in 2019, together comprising 44.95 per cent of total import. These were followed by Ukraine ($24.78 million), El Salvador ($12.87 million) and Canada ($11.78 million).

From 2016 to 2019, the most notable rate of growth in terms of import value, amongst the main importing countries, was attained by Indonesia (410.42 per cent), China (44.17 per cent) and Singapore (20.75 per cent).

Fibre2Fashion News Desk (JL)

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