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Substantial drop in global exports of cotton fabrics

04
Jun '20
Pic: Shutterstock
Pic: Shutterstock
The global trade of cotton fabrics, containing 85.00 per cent less by weight of cotton, have shown a substantial drop in the year 2019. Total trade decreased 10.65 per cent from $13,975.72 million in 2017 to $12,487.29 million 2019, according to data from TexPro. The total trade of cotton fabrics has declined by 14.39 per cent in 2019 over the previous year.
 
Further, the trade is anticipated to drop to $10,547.27 million in 2022 with a rate of 15.54 per cent from 2019, according to Fibre2Fashion's market analysis tool TexPro.
 
The global export of cotton fabrics was $9,185.17 million in 2017, which declined 10.25 per cent to $8,243.54 million in 2019. Total exports considerably diminished 13.82 per cent in 2019 over the previous year and is expected to move down to $7,008.96 million in 2022 with a rate of 14.98 per cent from 2019.
 
The global import value of cotton fabrics was $4,790.56 million in 2017, which reduced 11.41 per cent to $4,243.75 million in 2019. Total imports fell 15.47 per cent in 2019 over the previous year and is expected to drop to $3,538.31 million in 2022 with a rate of 16.62 per cent from 2019.
 
China ($5,710.69 million) and Pakistan ($400.64 million) were the key exporters of cotton fabrics across the globe in 2019, together comprising 74.13 per cent of total export. These were followed by India ($280.71 million), Turkey ($235.75 million) and Hong Kong ($218.25 million).
 
Vietnam ($1,056.48 million), Cambodia ($365.91 million) and China ($213.84 million) were the key importers of cotton fabrics across the globe in 2019, together comprising 38.56 per cent of total import. These were followed by Hong Kong ($193.39 million), Indonesia ($179.21 million) and Myanmar ($121.33 million).

Fibre2Fashion News Desk (JL)


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