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Trends in world textile and clothing trade, November-December 2008
published in Issue 138, November-December 2008
World textile and clothing trade grew by 10.6% to US$583 bn in 2007. The rise was the fourth double digit increase in five years and followed growth of 13.5% in 2003, 12.0% in 2004, 5.2% in 2005 and 10.0% in 2006. Prior to 2003, the last double digit rise had been witnessed in 1995. Three trade flows involving Asia grew at double digit rates in 2007. In textiles, exports from Asia to Africa increased by 18%, while those from Asia to Europe rose by 16%. But intra- North American textile trade fell by 5%. In clothing, Asian exports to Commonwealth of Independent States (CIS) countries surged by 95%. However, exports from Asia to Europe fell, albeit by a marginal 0.3%. At the same time, intra-North American trade declined by 16% and exports from South and Central America to North America fell by 7%.
The US textile and clothing trade deficit rose by 3.7% to US$92.26 bn, of which 87% was in clothing alone. The EU27 deficit rose by a much faster 13.7%. But at US$63.03 bn it equated to only 68% of the US deficit. China continued to have the world’s biggest textile and clothing trade surplus, followed by India, Turkey, Italy and Pakistan.
The world’s biggest textile exporter in 2007 was the EU27, followed by China, Hong Kong, the USA, South Korea, Taiwan, India, Turkey, Pakistan and Japan. The EU27 was also the biggest textile importer, followed by the USA—although China ranked as high as third, followed by Hong Kong, Japan, Turkey, Mexico, Vietnam, Canada and Russia. In clothing, China was the world’s leading exporter for the second year running, followed by the EU27, Hong Kong, Turkey, Bangladesh, India, Vietnam, Indonesia, Mexico and the USA. As for clothing imports, 46% of the world total went to EU countries in 2007, while the USA took 24% and Japan took 7%. The countries which followed in importance had only small shares and included Hong Kong, Russia, Canada, Switzerland, the United Arab Emirates, South Korea and Australia.
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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