Home / Knowledge / News / Textiles / India among leading exporters of creative goods: UNCTAD

India among leading exporters of creative goods: UNCTAD

18
Jan '19
India among leading exporters of creative goods: UNCTAD
India’s creative goods exports almost tripled from $7.4 billion in 2005 to $20.2 billion in 2014, making it one of the leading exporters of such products in the top 10 developing economies, according to a report by the United Nations Conference on Trade and Development (UNCTAD). China is the biggest single exporter and importer of creative goods and services, it said.

China’s trade in creative goods between 2002 and 2015 has been exponential, with average annual growth rates of 14 per cent, said the second edition of the periodic ‘Creative Economy Outlook: Trends in International Trade in Creative Industries’, which examines the global picture and features 130 country profiles with reported creative goods and services trade data.

The data from 2002 to 2015 shows the creative economy’s contribution to world trade.

Over this period, the value of the global market for creative goods doubled from $208 billion in 2002 to $509 billion in 2015, according to a news agency report.

“China, Hong Kong (China), India, Singapore, Taiwan Province of China, Turkey, Thailand, Malaysia, Mexico and the Philippines were the top 10 performing developing economies stimulating global trade in creative goods,” the report said.

The United States, France, Italy, the United Kingdom, Germany, Switzerland, the Netherlands, Poland, Belgium and Japan were the top 10 creative goods exporters among developed economies.

Design goods accounted for the largest share of creative goods exports with a value of $17.9 billion in 2014. Jewellery was a key export at $13.2 billion followed by fashion accessories at $3.2 billion.

The United States was India’s top export partner for creative goods in 2005 but the country slipped to second place in 2014, when the United Arab Emirates emerged as India’s top trading partner, the UNCTAD report said.

India’s fashion industry is likely to continue its growth as the country has a large young population. Art crafts (carpet and yarn products) was another dynamic sector with exports at $1.5 billion in 2014. India had a positive trade balance in creative goods trade, which stood at $15.4 billion in 2014.

In 2014, the main destination markets for India’s creative goods exports were Asia (58 per cent), the Americas (20 per cent) and Europe (19 per cent).

The report said India had become the centre for outsourcing work such as game development, game support services. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 6th Dec 2019

58 RMG units set up in Bangladesh in Jan-Oct 2019

Fifty eight new garment factories have been set up in Bangladesh...

Pic: Shutterstock

Textiles | On 6th Dec 2019

Global fibre production at an all-time high: report

Global fibre production has doubled in the last 20 years, reaching an ...

Pic: Shutterstock

Textiles | On 6th Dec 2019

Many firms lack contingency plans for trade war: survey

More than a quarter of multinational firms have not prepared...

Interviews View All

Subhashini Srinivasan, The S Studio

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Yash Maniyar, Rekha Maniyar

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Sachin Sharma, Gem Enviro Management Pvt Ltd

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Akshat Chaudhary,

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Nuria Estape,

Nuria Estape

Archroma is a global colour and specialty chemicals company headquartered...

Milva Morani,

Milva Morani

Brighi Technologies began in 1970 with trading and repairing sewing...

Marcel Alberts, Eurofibers

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Madison Maxey, Loomia

Madison Maxey
Loomia

Loomia designs and manufactures soft circuit systems that can be produced...

Matthew Kolmes, Supreme Corporation

Matthew Kolmes
Supreme Corporation

Supreme Corporation manufactures innovative specialty yarns and safety...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


December 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search