Press Release
世界纺贸难乐观 今年转减势已成 Dim Forecast of World Textile Trade

Dim Forecast of World Textile Trade Downward Trend is Formed This Year


According to the latest information from World Trade Organization (WTO), the global economy in 2014 was still weak and signs of recovery were dim. Regarding to Import and export trade of global textile products and apparel (according to statistics of Standard International Trade Classification (SITC) 65, 84, herein after referred to textiles and apparel (T&A)), the growth slowed down. Total volume in 2014 was 1658.59 billion USD, achieving only a 4.3% growth compared with that in 2013, and a smaller growth rate than in 2013 (8.8%); the import growth rate dropped from 9% to 4.1% in 2013; the export growth rate dropped from 8.6% to 4.4%.


When looking at numbers of countries and regions, the 28 countries in European Union (EU) is considered as one trading unit, its T&A trade volume was 482.851 billion USD, ranks number one in the list; Mainland China achieved 324.641 billion USD, followed by U.S. with 141.922 billion USD, which are the second and third place respectively. Hong Kong barely made it to number four with 55.799 billion USD (including re-export); however, if excluding re-export, the volume dropped to 25.820 billion USD, which is smaller Japan, India, Turkey, Vietnam, Bangladesh, Korea, ranking drops to 10th in the world.


Major characteristics of changes in world textile trade in 2014:

1. Proportion of Europe and U.S. in global import lowered to 46.8%

The world’s two largest T&A import markets—Europe and U.S. take up less than half of world’s total import volume. The proportion has dropped drastically compared with that in 2005 when global quota system was removed—EU dropped from 41.2% to 32.7%, which U.S. dropped from 20.8% to 14.1%.

2. Export growths of India, Vietnam and Cambodia exceed China

Mainland China’s export growth was 5%, slightly higher than the 4.4% of global total export level. Proportion of mainland China rose from 37.4% from 37.2%. However, the growth is far behind India (9.5%), Vietnam (14%), Cambodia (16.8%); and Sri Lanka (9.1%) and Turkey (6%) also performed better than China.

3. Hong Kong lags in export and import, decline persists

As local T&A manufacturing industry declines, T&A export of Hong Kong was only 289 million USD, which was a year-on-year decrease 24.4%; if re-export was included, the overall export also dropped by 7.2%, which was the biggest decrease among the top 20 export countries and regions. Meanwhile, Hong Kong import also went down by 5%.


(refer to attached table for 2014 World’s Top 20 T&A Import and Export Statistic)



World’s T&A Trade is Expected to Decline This Year

From the start of this year, the situation of T&A sector of mainland China, which accounts to 60% of total volume of global T&A export, as well as the 16 countries and regions neighboring China is bleak. The combined export volume of the first 7 months experienced a 3% year-on-year decrease; all countries and regions witnessed decrease in export except Vietnam. Import wise, EU, as the largest market, dropped by 8%. The market trend in the second half of this year is not looking on the bright side, the downward trend of T&A trade in this year is certain.

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