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Home / Knowledge / News / Textiles / Global yarn trade to take a dip in second half of 2021: TexPro

Global yarn trade to take a dip in second half of 2021: TexPro

28
Aug '21
Pic: Shutterstock
Pic: Shutterstock
Global yarn trade had picked up in the beginning of this year, after taking a severe hit last year due to the pandemic and various restrictive measures implemented by various countries and trade organisations. However, it started declining again towards June 2021 due to the new wave of COVID-19 and the spread of the delta variant in various countries.

The impact of the pandemic had reduced towards the end of 2020 and measures were implemented to boost yarn trade. The trade flourished due the sudden rise in demand for textiles and apparel globally, nearly after a year.

Yarn trade was affected again in June 2021 as leading suppliers and consumers of the textile yarns such as China, Australia, Bangladesh, India, Indonesia and other eastern countries reinstated trade barriers due to the spread of the delta variant.

The monthly average of the global yarn trade was $2.95 billion in 2019, which remained same in 2020 even as the world was grappling with the pandemic. It increased in the first half of 2021 and reached a monthly average of $3.75 billion, recording a surge of 27 per cent, according to Fibre2Fashion’s market analysis tool TexPro.

However, the global trade of yarn is expected to decline again by 17.50 per cent in the second half of this year to a monthly average of $3.09 billion, over the monthly average in the first half.

In H1 2021, China, India, Vietnam, Italy and Indonesia were the top five exporters of yarn with exports share of 25.49 per cent, 10.47 per cent, 10.35 per cent, 4.48 per cent and 4.19 per cent, respectively.

Fibre2Fashion News Desk (KD)

This according to Fibre2Fashion's Market Intelligence Tool - TexPro

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