Global trade of home textiles slightly down
The global export of home textiles increased 1.89 per cent to $95,725.27 million in the year 2019 compared to export of $93,952.83 million in 2017. However, total exports declined 2.66 per cent in 2019 over the previous year, according to data from TexPro. The export is expected to move up to $98,350.54 million in 2022 with a rate of 2.74 per cent from 2019.
The global import value of home textiles was $64,876.16 million in 2017, which rose 5.64 per cent to $68,534.93 million in 2019, according to Fibre2Fashion's market analysis tool TexPro. Total imports plunged 0.73 per cent in 2019 over the previous year and is expected to rise to $72,638.11 million in 2022 with a rate of 5.99 per cent from 2019.
China ($32,561.11 million), Turkey ($9,334.65 million), India ($6,873.76 million) and US ($6,244.21 million) were the key exporters of home textiles across the globe in 2019, together comprising 57.47 per cent of total export. These were followed by Pakistan ($4,117.56 million), Germany ($3,519.27 million) and Vietnam ($3,465.89 million).
From 2016 to 2019, the most notable rate of growth in terms of export value, amongst the main exporting countries, was attained by Turkey (19.63 per cent), China (10.11 per cent) and India (8.33 per cent).
US ($18,913.32 million), Germany ($5,437.93 million), Japan ($4,434.63 million), UK ($3,487.48 million) and France ($3,168.81 million) were the key importers of home textiles in the globe in 2019, together comprising 51.71 per cent of total import. These were followed by Netherlands ($2,455.82 million), Canada ($2,161.21 million) and Australia ($1,734.59 million).
From 2016 to 2019, the most notable rate of growth in terms of import value, amongst the main importing countries, was attained by US (13.75 per cent), Japan (11.28 per cent) and Germany (9.19 per cent).