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What is the export situation of the global textile and apparel industry?

Views: 0     Author: Site Editor     Publish Time: 2023-07-05      Origin: Site


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What is the export situation of the global textile and apparel industry?

The latest data of the major textile and apparel exporters

At present, the global economic growth is sluggish, trade synchronization weakness, the world's major trading countries export growth rate are slowing down. So, what is the export situation of the global textile and garment industry? According to the latest data released by China, Bangladesh, Vietnam, Cambodia, Pakistan and other major textile and garment countries, the export of textile and garment industries in various countries have good news and bad news, let's learn more about it!

1-China back on growth track

China Chamber of Commerce for Import and Export of Textiles disclosed on May 9, in China's stabilization of foreign trade policy continues to force and supply chain recovery, order to speed up the delivery and a lower base to promote, according to the dollar, April China's textile and apparel exports continue to maintain growth year-on-year, a slight decline in the ring. Among them, clothing exports rose 14.3% year-on-year in the same month, driving the cumulative clothing exports from negative to positive, the overall decline in exports of textiles and clothing further narrowed.

China's textile and apparel exports in RMB: 2023 January-April, the cumulative exports of textiles and clothing 638.3 billion yuan, up 4.8% over the same period last year (the same below). April, China's textile and apparel exports 176.03 billion yuan, up 17.4% year-on-year, down 2.2%, of which 87.41 billion yuan of textile exports, up 12.1%, down 0.7% YoY. Apparel exports of 88.62 billion yuan, up 23.2%, down 3.7% YoY.

China's textile and apparel exports in U.S. dollars: January-April 2023, textile and apparel exports totaled $92.88 billion, down 2.9%. in April, China's textile and apparel exports of $25.66 billion, up 9%, down 2.8% YoY, including textile exports of $12.74 billion, up 4.1%, down 1.3% YoY, apparel exports of $12.92 billion, up 14.3%, down 4.2% from a year earlier

China back on textile growth track 

2-Bangladesh Prides itself on South Asia

Bangladesh: Garment exports up 9 percent to $38.5 billion this fiscal year


Despite the global economic slowdown, Bangladesh has managed to achieve growth in apparel exports in recent months. According to provisional data released by the Export Promotion Bureau of Bangladesh (EPB), Bangladesh's ready-made garment (RMG) exports grew by 9.09 percent to $38.577 billion in the first ten months of FY2022/23 (July 2022-April 2023), compared to $35.362 billion in the same period of 2022.

Meanwhile, exports of woven and knitted garments, apparel accessories and home textiles together accounted for 86.51 percent of Bangladesh's total exports of $45.677 billion in the first nine months of FY 2022/23 (July 2022-March 2023).

Myanmar: $384 million worth of CMP garments exported in April

In April this year, Myanmar exported $384 million worth of cut-make-pack (CMP) garments, $200 million through the border to Thailand and China and $184 million to Europe and other countries, according to the Myanmar Garment Manufacturers Association.

In fiscal year 2022-2023 (ending March 31), Myanmar received $1.551 billion from CMP garment exports.


Jordan: Becoming the Region's Largest Exporter of Textiles to the U.S.

Jordan Chamber of Commerce and Industry (JCI) textile and leather industry representative Ehab Qadri said that the Jordanian Economic Modernization Vision (EMV) plan to promote the development of the textile industry will greatly improve the quantity and quality of Jordan's textile exports.

In total, Jordan's textile industry will provide about 149,000 jobs in 2022, effectively reducing the unemployment rate. Jordan ranks 16th in the world in textile exports and is the first Arab country to export textiles to the US, accounting for 2% of US textile imports. He expects Jordan's textile exports to reach $7.3 billion in the next decade ($2.1 billion in 2022).

3-Vietnam led the decline in the export of textile and apparel in many countries into the trough

Vietnam: Textile and apparel exports down 18% from January to April

According to preliminary data from the Ministry of Finance's Customs and Statistics Department, Vietnam's textile and apparel exports fell by 18.1 percent to $9.72 billion in January-April 2023.In April 2023, Vietnam's textile and apparel exports fell by 3.3 percent from the previous month to $2.540 billion.

Since the second half of 2022, demand from major import markets such as the US and Europe has fallen, and during the traditional peak production period in the fourth quarter, the textile and garment market has instead seen extremely low turnover and a steep drop in the number of orders. This has led to a large number of enterprises having no way to maintain normal operations in the second half of the year and having to stop some production lines.

According to the General Statistics Office of Vietnam, in the first three months of this year, nearly 294,000 workers in Vietnam's enterprises were stopped from working or had their working hours shortened due to the decrease in enterprise orders. in the fourth quarter of 2022, the number of unemployed Vietnamese enterprises was about 118,000; and in the third quarter of this year, the number will continue to increase and is expected to be close to 149,000.

According to the Vietnam Textile and Apparel Association (VITAS), Vietnam is targeting $48 billion in exports of textiles, garments and yarn for 2023 amid positive market conditions.

vitnam textile factory worker 

Cambodia: Double-digit decline in garment exports in the first four months

Cambodia exported $3.1 billion worth of garments, footwear and travel goods in the first four months of this year, down a whopping 24.63 percent from $4.11 billion in the same period last year, according to a circular issued by the Cambodian Customs and Excise Department.

Within the sector, revenues from knitted garments stood at $1.39 billion as of April this year, down 28.5 percent from $1.95 billion in the same period in 2022. Revenue from non-knit apparel was $754 million compared to $922 million in the same period in 2022, down 18.1% year-over-year for the same period.

Footwear export revenue was $430 million in the first four months of the year, also down 23.4 percent compared to $570 million in the same period last year.


Pakistan: April textile and apparel exports fell 29.11% year-on-year

According to China Cotton Information Network news, Pakistan's textile and apparel exports in April amounted to $1.233 billion, down 29.11% year-on-year and 2% less than the same period last year, exports of a staggering $500 million less than the same period last year; exports of cotton yarn 21,600 tons down 11.24% year-on-year and 7.82% less than the same period last year; exports of cotton fabric 0.28 billion tons, down 14.58% year-on-year and 5.7% less than the same period last year 5.7%.

FY 2022/23 (July 2022 - April 2023), Pakistan's total exports of textiles and apparel amounted to $ 13.71 billion, a total of 193,900 tons of cotton yarn exports, down 14.17%; down 31.16%; a total of 286 million tons of cotton fabric exports, down 21.08%.


India: Textile and apparel exports down nearly 14% in FY2023

In 2021-2022, India's total exports of textiles and apparel are $41.3 billion, accounting for 9.79% of total merchandise exports. However, in 2022-2023, exports from this sector total $35.5 billion, accounting for only 7.95 percent of merchandise exports. in 2022-2023, textiles and apparel exports declined by 13.9 percent compared to the previous year.

In fiscal year 2022/23, India's apparel exports ($16.11 billion) increased by 1.1% from the previous year ($16.01 billion), while textile exports declined by 23.3% to $19.3 billion.

Siddhartha Rajagopal, executive director of the Cotton Textiles Export Promotion Council of India, said India's cotton textile exports experienced a bad year, with factors affecting its exports including high inventories of international buyers and high cotton prices in India last year.


Sri Lanka: April apparel industry exports plummeted 24%

Sri Lanka's Daily Financial Times reported on May 22 that Sri Lanka's garment industry exports are facing serious challenges. April Sri Lanka's garment industry exports amounted to 318 million U.S. dollars, down 24 percent year-on-year, the lowest value in recent years. January-April exports amounted to 1.5 billion U.S. dollars, down 17 percent year-on-year.

In April, exports of apparel to the U.S. $ 129 million, down 25.5% year-on-year, exports to the EU fell to $ 90 million, down 27.53% year-on-year.

Industry insiders said that the increase in market inventory, the recent rise in the cost of Sri Lankan apparel purchases are the main factors in the decline in exports. At the same time because of cheaper prices in Bangladesh, Egypt, other African countries, customers mostly asked S suppliers to reduce prices, Sri Lanka is rapidly losing its competitive advantage.

Textile export 

Indonesia: Textile industry is under great pressure

In April this year, Indonesia's import and export both continued to contract. In terms of exports, Indonesia's exports reached 19.29 billion USD in April, down 17.62% YoY and 29.40% YoY. Indonesia's imports in April reached US$15.35 billion, down 25.45% YoY and 22.32% YoY.

The slowdown in Indonesia's imports and exports in April has caused concern. According to Tauhid Ahmad, director of the Indonesian Institute for Economic and Financial Development, the decline in imports indicates a slowdown in Indonesia's economy. On the one hand, Indonesia's export destinations have decreased, especially the demand in the export markets of the textile, garment, footwear and furniture industries, causing them to reduce their imports of raw materials for these industries. On the other hand, people's purchasing power has weakened, especially the purchasing power of consumer goods for the lower and middle classes is declining.

The Indonesian textile industry is still under pressure to lay off workers due to the declining demand in the U.S. and European markets. Indonesia's Minister of Manpower Ida Fajia recently admitted that textile and footwear factories exporting to the European and American markets are under great pressure, not just "less demand, or even no demand at all".

Turkey: Garment exports fell 6.34% to $6.3 billion in the first four months

According to data from the Turkish Statistical Institute and the country's trade ministry, Turkey's apparel exports fell 6.34 percent year-on-year in January-April 2023, bringing total exports to $6.348 billion, compared with $6.778 billion in the same period in 2022. in April 2023, apparel exports fell 23.54 percent to $1.432 billion.

From January to April 2023, exports of knitted and crocheted garments and accessories were $3.403 billion, down 9% from $2.738 billion in the same period a year earlier. Meanwhile, the value of non-knitted garments and accessories was $2.945 billion, down 3.1% from the same period last year. In April this year, Turkey's total exports of knitted and non-knitted garments and accessories fell by 23.54% to $1.432 billion.

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