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Rising global import of sacks and bags

20
Feb '20
Pic: Shutterstock
Pic: Shutterstock
Overall trade of sacks and bags (for packaging of goods) has been rising with high growth rate. Total trade grew 13.61 per cent from 2016 to 2018, according to data from TexPro. The global trade of sacks and bags was $10,483.06 million in 2016, which increased to $11,909.50 million in 2018. The total trade rose 10.26 per cent in 2018 over the previous year.
 
Further the trade is anticipated to reach $14,547.67 million in 2021 with a CAGR of 6.90 per cent from 2018, according to Fibre2Fashion's market analysis tool TexPro.
 
The global export of sacks and bags was $6,474.52 million in 2016, which increased by 7.51 per cent to $6,960.76 million in 2018. Total exports moved up by 8.07 per cent in 2018 over the previous year and is expected to reach $7,759.44 million in 2021 with a CAGR of 3.69 per cent from 2018.
 
The global import value of sacks and bags was $4,008.54 million in 2016, which increased by 23.45 per cent to $4,948.74 million in 2018. Total imports surged by 13.50 per cent in 2018 over the previous year and is expected to reach $6,788.23 million in 2021 with a CAGR of 11.11 per cent from 2018.
 
China ($3,699.81 million), India ($926.49 million) and Turkey ($356.35 million) were the key exporters of Sacks and Bags across the globe in 2018, together comprising 71.58 per cent of total export. These were followed by Thailand ($125.88 million), Iran ($123.75 million) and Belgium ($120.83 million).
 
From 2013 to 2018, the most notable rate of growth in terms of export value, amongst the main exporting countries, was attained by China (99.81 per cent) and India (61.77 per cent).
 
US ($667.84 million), Japan ($443.33 million), Germany ($304.96 million), Spain ($297.75 million), South Korea ($296.83 million) and UK ($290.01 million) were the key importers of sacks and bags across the globe in 2018, together comprising 46.49 per cent of total import. These were followed by France ($260.88 million), Italy ($248.22 million), Netherland ($246.59 million) and Belgium ($144.05 million).
 
From 2013 to 2018, the most notable rate of growth in terms of export volume, amongst the main importing countries, was attained by Spain (194.11 per cent) and UK (164.67 per cent).

Fibre2Fashion News Desk (JL)


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