Countries with Export Growth
Vietnam
Vietnam’s Ministry of Industry and Trade reported a 3% increase in textile exports, totaling $16.3 billion.
The export target of the industry is set at $44 billion for the entire year. The Vietnam Textile and Apparel Association chairman said most companies in the sector have orders for October and November because the purchasing power has been increasing since earlier this year, when major export markets began showing first recovery signs and inflation, seemed under control.
Pakistan
Pakistan Bureau of Statistics data show that the country's textile exports reached $1.55 billion in May, 18% higher year-on-year and 26% over the month. The country's textiles and clothing exports within the first 11 months of the current financial year have been recorded at $15.24 billion, reporting an increase of 1.41% as against last year.
China
The China Chamber of Commerce reported that China's textile and apparel exports hit $143.24 billion in the first half of the year, up 1.6% against difficulties, including fluctuations in the global currency market and international shipping disruptions. Textile exports grew 3.3%, with a 5.1% rise to the U.S. and 9.5% to ASEAN countries.
India
India’s textile and apparel exports grew by 4.08% from April to June 2024, totalling $8.785 billion. However, their share in total goods exports dipped to 7.99%.
Cambodia
Cambodia's Ministry of Commerce highlighted that Cambodia's garment and textile exports had increased remarkably to the extent of $3.628 billion in the first five months of the current year, an increase of 22% on a year-over-year comparison basis. Statistics show Cambodia's foreign trade from January to May grew by 12%, at over $21.6 billion compared to $19.2 billion during the same period last year.
Sri Lanka
Sri Lanka's export revenue from garments and textiles in June this year increased by 4.22% year-on-year to $446.54 million, according to the EDB. Exports to the U.S. surged by 13.28%.
Countries with Export Decline
Uzbekistan
Uzbekistan shipped its textile products to 55 countries, amounting to $1.5 billion, but it was down by 5.3% compared to the same period in 2023.
Yarn exports in the first half year of 2024 rose to $708.6 million from $658 million last year, while finished goods dropped to $584 million from $662.6 million. Knit fabric exports fell to $114.1 million from $173.9 million in 2023.
Turkey
Turkey's apparel and textile exports dropped 19% in April, reaching $1.1 billion. From January to April, apparel exports were down 14.6%, totalling $5 billion. The textile and raw materials sector dropped 8% in April, totalling $845 million. From January to April, exports reached $3.8 billion, down 3.6%. The apparel industry ranked fifth in Turkish exports at 6%, while textiles and raw materials were eighth at 4.5%. Exports to Asia grew 15%.
Leading export products were woven fabrics, technical textiles, yarn, and knit fabrics. Fiber products saw the highest growth at 5%, while home textiles had the largest decline at 13%.
Bangladesh
In the first five months of 2024, Bangladesh’s garment exports to the U.S. dropped 12.31% in value and 6.22% in volume ($2.9 billion), down from $3.31 billion in 2023.
Cotton apparel exports fell 9.56% to $2.01 billion, and manmade fiber apparel exports declined 21.85% to $750 million. Overall, U.S. apparel imports decreased by 6% during this period, reaching $29.62 billion.
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