News Round-Up: Import and Export Trends
Below is a collection of recent news articles examining import and export trends for several key players in the global sewn products industry. Please note, this is by no means an exhaustive analysis. Rather, we hope it is a way to help our readers synthesize the vast amount of information available to them.
Vietnam’s textile and apparel exports increased greatly in the first half of 2022. The country exported around 78% of its apparel to just five countries: the United States, Japan, South Korea, China and Canada. More than half of its $17.88 billion in apparel exports went to the United States.
Vietnam's Textile & Garment Exports up 24.3% to $26 bn in Jan-Aug '22
Vietnam Exports 50% Apparel to US in H1 2022; Total Shipment at $17 bn
Vietnam's Footwear, Leather Exports Rise 13% in Jan-July 2022
Japan is the 3rd largest importer of textiles and apparel in the world (after the United States and China). Japan’s imports of clothing and accessories has increased steadily in 2022 with a 38% year-on-year increase calculated in July. Also in July, Japan’s export of textile yarn and fabrics was worth 68,392 million yen, an increase of 20.5% year-on-year. Japan exported textile machinery of 25,733 million yen in July 2022, 28.1% higher than in July 2021.
Japanese Fashion Companies Continue to Diversify Apparel Sourcing Base
Despite increases over the past year, Bangladesh's export earnings fell to a 13-month low of $3.9 billion in September. Experts say “the slide came not for any internal failure of the country. Rather the Ukraine war and the double-digit inflation in the eurozone are the culprits here.”
Bangladesh Garment Export Growth Seen Slowing to 'Normal' 15% this Year
India’s merchandise export growth in September turned negative for the first time since February 2021. Textile and apparel exports also decreased.
India's Exports Dip by 3.52% to $32.62 Billion in September: Govt Data
India's Export of Garments Drops by 0.42% YoY in Aug to $1232.7 mn
India's Sept 2022 Merchandise Exports Drop by 3.52% YoY to $32.62 bn
Both imports and exports of textiles and apparel in the United States have increased in 2022. Following a drastic downturn in 2020, imports rebounded in 2021 to surpass pre-pandemic levels.
US Textiles & Apparel Imports up 29.83% in January-July 2022
You can access monthly U.S. textile and apparel trade data on the Department of Commerce’s Office of Textiles and Apparel (OTEXA) website here.
The value of textile and garment exports from Pakistan increased by 4.18% in July-August 2022. However, the clothing and textile sector in Pakistan is reportedly anticipating a drop of at least 30% in the value of exports after the recent flooding disrupted production and wiped out much of the country’s cotton crop.
Pakistan's Textile Units Shut Down Due to Shortage of Cotton After Floods
Pakistan's Textile & Apparel Exports up 4.18% in July-August 2022
Cambodia’s exports of apparel increased 28.77% to $6.466 billion during January-August 2022, representing more than half of the country’s total foreign income during the time period. Also, not trade related but interesting, Cambodia will raise the minimum wage of its textile workers beginning in 2023.
Cambodia's Apparel Exports Rise 28.77% to $6.466 bn in Jan-Aug 2022
Cambodia Exports Nearly $7 bn Worth Products to US in Jan-Jul 2022
New Cambodia Apparel Sector Strategy Aims to Make Exports More Competitive (from April 2022)
Europe’s economy and manufacturing industries continue to struggle amid the Ukraine war and energy crisis. According to Fibre2Fashion’s market insight tool TexPro, exports of textile products and articles for technical usage declined to $727.345 million in the second quarter of 2022.
European Textile Exports Slide Due to Energy Crisis Amid Ukraine War
Europe Witnesses Downward Trend in Trade of Industrial Textiles
Six Months On: Impact of the Ukraine-Russia War on Europe’s Apparel Market
However, Ukraine’s textile imports are apparently back on track. The latest figures indicate that normal trading activities have been restored, at least for textile imports. The monthly imports of apparel are now close to pre-war levels and amounted to $71.808 million in June 2022. Home textile imports are also rising.
The General Administration of Customs of China notes China’s exports of textiles, apparel, and clothing accessories increased to $220.30 billion in the first eight months of 2022, registering a growth of 11.11% year-on-year. However, the country’s National Bureau of Statistics reports an overall decline of 14% in textile industry profits during the same period. Earnings of the equipment manufacturing industry of the country decreased by 2%.
China's Textiles & Apparel Exports at $220 bn in Jan-Aug 2022
China's Textile Exports Cross 30% of the World's Total since 2012
China's Textile Industry Profits Fall by 14.1% from Jan-Aug 2022: NBS
China's Leather Goods Exports Bounce Back After COVID Disruption