Recently, the China Chamber of Commerce for Import and Export of Textiles and Apparel released data showing that in the first half of the year, my country's textile and clothing industry overcame the impact of global foreign exchange market fluctuations and poor international shipping, and its export performance was better than expected. The supply chain accelerated its transformation and upgrading, and its ability to adapt to changes in overseas markets continued to increase. In the first half of the year, my country's cumulative exports of textiles and clothing reached US$143.24 billion, a year-on-year increase of 1.6%. Among them, textile exports increased by 3.3% year-on-year, and clothing exports remained the same year-on-year. Exports to the United States increased by 5.1%, and exports to ASEAN increased by 9.5%.
Against the backdrop of intensified global trade protectionism, increasingly tense geopolitical conflicts, and depreciation of currencies in many countries, what about other major textile and clothing exporting countries?
Vietnam, India and other countries have maintained growth in clothing exports
Vietnam: Textile industry exports reached about $19.5 billion in the first half of the year, and strong growth is expected in the second half of the year
Data from the Ministry of Industry and Trade of Vietnam showed that the textile industry exports reached about $19.5 billion in the first half of this year, of which textile and clothing exports reached $16.3 billion, an increase of 3%; textile fibers reached $2.16 billion, an increase of 4.7%; various raw materials and auxiliary materials reached more than $1 billion, an increase of 11.1%. This year, the textile industry is striving to achieve the goal of $44 billion in exports.
Vu Duc Cuong, chairman of the Vietnam Textile and Apparel Association (VITAS), said that since major export markets are witnessing economic recovery and inflation seems to be under control, which helps to increase purchasing power, many such companies have orders for October and November and hope to achieve higher business volume in the last few months to complete this year's export target of $44 billion.
Pakistan: Textile exports grew 18% in May
Data from the Pakistan Bureau of Statistics showed that textile exports reached $1.55 billion in May, up 18% year-on-year and 26% month-on-month. In the first 11 months of the 23/24 fiscal year, Pakistan's textile and clothing exports amounted to $15.24 billion, up 1.41% from the same period last year.
India: Textile and clothing exports grew 4.08% in April-June 2024
India's textile and clothing exports grew 4.08% to $8.785 billion in April-June 2024. Textile exports grew 3.99% and clothing exports grew 4.20%. Despite the growth, the share of trade and procurement in India's total merchandise exports fell to 7.99%.
Cambodia: Textile and clothing exports soared 22% in January-May
According to the Cambodian Ministry of Commerce, Cambodia's clothing and textile exports reached $3.628 billion in the first five months of this year, up 22% year-on-year. Data showed that Cambodia's foreign trade grew significantly from January to May, up 12% year-on-year, with total trade exceeding US$21.6 billion, compared with US$19.2 billion in the same period last year. During this period, Cambodia exported goods worth US$10.18 billion, up 10.8% year-on-year, and imported goods worth US$11.4 billion, up 13.6% year-on-year.
The export situation in Bangladesh, Turkey and other countries is severe
Uzbekistan: Textile exports fell by 5.3% in the first half of the year
According to official statistics, in the first half of 2024, Uzbekistan exported $1.5 billion in textiles to 55 countries, a year-on-year decrease of 5.3%. The main components of these exports are finished products, accounting for 38.1% of total textile exports, and yarn accounts for 46.2%.
During the six-month period, yarn exports reached $708.6 million, up from $658 million last year. However, finished textile exports fell from $662.6 million in 2023 to $584 million. Knitted fabric exports were valued at $114.1 million, compared to $173.9 million in 2023. Fabric exports were valued at $75.1 million, down from $92.2 million the previous year, and sock exports were valued at $20.5 million, down from $31.4 million in 2023, according to domestic media reports.
Turkey: Clothing and ready-made garment exports fell 14.6% year-on-year in January-April
In April 2024, Turkey's clothing and ready-made garment exports fell 19% to $1.1 billion compared to the same period last year, and in January-April, clothing and ready-made garment exports fell 14.6% to $5 billion compared to the same period last year. On the other hand, the textile and raw materials sector fell 8% to $845 million in April compared to the same period last year, and fell 3.6% to $3.8 billion in January-April. In January-April, the clothing and apparel sector ranked fifth in Turkey's overall exports, accounting for 6%, and the textile and raw materials sector ranked eighth, accounting for 4.5%. From January to April, Turkey's textile exports to the Asian continent increased by 15%.
Looking at the Turkish textile export data by product category, the top three are woven fabrics, technical textiles and yarns, followed by knitted fabrics, home textiles, fibers and clothing sub-sectors. During the period from January to April, the fiber product category had the largest increase of 5%, while the home textile product category had the largest decrease of 13%.
Bangladesh: RMG exports to the US fell 12.31% in the first five months
According to data released by the Office of Textiles and Apparel of the U.S. Department of Commerce, in the first five months of 2024, Bangladesh's RMG exports to the United States fell 12.31% and the export volume fell 622%. Data showed that in the first five months of 2024, Bangladesh's clothing exports to the United States fell from US$3.31 billion in the same period of 2023 to US$2.90 billion.
Data showed that in the first five months of 2024, Bangladesh's cotton clothing exports to the United States fell 9.56% to US$2.01 billion. In addition, exports of garments produced using man-made fibers fell 21.85% to US$750 million. Total U.S. clothing imports fell 6.0% to US$29.62 billion in the first five months of 2024, down from US$31.51 billion in the same period of 2023.
Post time: Sep-29-2024