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Trends in world textile and clothing trade, November-December 2007
published in Issue 132, November-December 2007
World textile and clothing trade rose by 9.7% to US$530 bn in 2006. Although the rise was slower than the exceptional increases of 11.6% in 2004 and 12.9% in 2003, it was still the third fastest growth rate witnessed since 1995, when trade grew by 14.0%. Four trade flows involving Asia grew at double digit rates. In textiles, exports from Asia to Africa and Europe, for example, increased by 19% and 11% respectively, while those from Asia to North America rose by a respectable 9%. But intra-North American textile trade fell by 1%. In clothing, Asian exports to Europe surged by 39% while those to North America rose by 15%. However, intra-North American trade declined by 9% and exports from South and Central America to North America fell in value by 6%.
The US textile and clothing trade deficit rose by 4.3% in 2006 to US$88.93 bn. As much as 88% of the total was in clothing. The EU25 deficit, meanwhile, rose by a substantial 16.4% to reach US$56.95 bn—although this equated to only 64% of the US deficit. China continued to have the world’s biggest textile and clothing trade surplus, followed by India, Italy, Turkey and Pakistan.
The world’s biggest textile exporter in 2006 was the EU25, followed by China. The EU25 was also the biggest textile importer, followed by the USA—although China ranked as high as third among the world’s leading textile importers. In clothing, China became the world’s leading exporter, ahead of the EU25—even when EU intra-trade is included. As for clothing imports, 44% of the world total went to EU countries in 2006, while the USA took 26% and Japan 7%.
Table of Contents
Trends in World Textile and Clothing Trade
Growth in Textile and Clothing Trade
Textile and Clothing Deficits and Surpluses
Leading Textile and Clothing Exporters and Importers
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