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    • Oct 5, 2022

News Round-Up: Import and Export Trends

By SPESA


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

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.

Industry Analysis:

Japan

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.


Industry Analysis:


Bangladesh

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.”


Industry Analysis:

India

India’s merchandise export growth in September turned negative for the first time since February 2021. Textile and apparel exports also decreased.


Industry Analysis:

United States

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.


Industry Analysis:

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.


Pakistan

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.

Industry Analysis:


Cambodia

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.

Industry Analysis:


Europe

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.

Industry Analysis:

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.



China

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%.


Industry Analysis:


Industry News from Other Regions: