Global trade of textured yarn to move down

17 Aug '20

2 min read

Pic: Shutterstock

The global export of textured yarn declined 0.66 per cent to $6,502.38 million in 2019 (2017: $6,545.64 million). Total exports declined 11.28 per cent in 2019 over last year and is expected to drop to $6,282.66 million in 2022 with a rate of 3.38 per cent from 2019. The global import fell 8.15 per cent to $6,194.94 million in 2019 (2017: $6,744.96 million).

Total imports plunged 12.15 per cent in 2019 over the previous year and is expected to diminish to $5,873.20 million in 2022 with a rate of 5.19 per cent from 2019, according to Fibre2Fashion's market analysis tool TexPro.

China ($2,194.12 million), Italy ($748.63 million), India ($743.63 million) and Taiwan ($473.37 million) were the key exporters of textured yarn across the globe in 2019, together comprising 63.97 per cent of total export. These were followed by US ($274.83 million), Spain ($183.51 million) and Thailand ($165.14 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 (63.44 per cent), Italy (58.14 per cent) and Taiwan (5.37 per cent).

Turkey ($647.60 million), Vietnam ($460.33 million), Brazil ($459.04 million) and Italy ($396.43 million) were the key importers of textured yarn the globe in 2019, together comprising 31.69 per cent of total import. These were followed by UK ($306.62 million), South Korea ($256.17 million) and US ($230.70 million).

From 2016 to 2019, the most notable rate of growth in terms of import value, amongst the main importing countries, was attained by Vietnam (91.22 per cent), Italy (87.85 per cent) and Brazil (38.30 per cent).

Fibre2Fashion News Desk (JL)

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