World Trade Organization report shows that global textile trade has declined in 2019

Aug 24, 2020  |  by Zhao xh


The World Trade Organization (WTO) released the “2020 World Trade Statistics Review” report that in 2019, the world textile trade volume fell 2.4% year-on-year to USD 305 billion, and the apparel trade volume fell 0.4% to USD 492 billion. The Sino-US trade war is one of the reasons for the shrinking textile and apparel trade.

In terms of textile exports, the top three textile export regions in 2019 are China, the 28 EU countries and India, which together account for 66.9% of global textile exports. Vietnam’s textile exports increased by 8.3% year-on-year, surpassing China Taiwan to become the world’s seventh largest textile exporter. According to a WTO report, China’s share of world textile exports rose to a record 39.2%.
 
In terms of apparel exports, the four largest apparel exporters of China, the 28 EU countries, Bangladesh and Vietnam together contributed 71.4% of the global apparel market. However, the WTO report shows that China’s share dropped from 31.3% in 2018 to 30.8% in 2019.
 
In terms of textile imports, in 2019, the United States and the 28 EU countries together accounted for 31.2% of global textile imports. Vietnam has become the third largest importer of textiles.
 
In terms of apparel exports, in 2019, the top three apparel importing countries, the 28 EU countries, the United States and Japan, purchased 58.1% of global apparel.

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