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        • China’s imports rose by 5.2 per cent year-on-year (YoY) to 13.44 trillion yuan, while its exports touched 17.67 trillion yuan after an annual increase of 13.8 per cent. The country’s trade surplus during the period jumped 53.7 per cent YoY, totalling to 4.23 trillion yuan.The combined import and export value increased by 8.3 per cent compared to 2021, which is around 3.81 trillion yuan in September 2022, as per recent data from the General Administration of Customs China (GACC). Moreover, the na
        • The recent energy crisis has hit hard the Bangladesh textile mills. Industry leaders said that since the scarcity of gas began a couple of months earlier, 60% of textile mills’ production was hampered due to the gas crisis. And textile factories have reduced 30%-40% of their total production capacity and might hamper the $60 billion export earnings target set for the current FY23.Figure: Textile factories have reduced 30%-40% of their total production capacity.According to Bangladesh Textile Mil
        • Fabric constituted 78.75 per cent of the total textile exports of the world’s largest textile exporter China during the first half (H1) of 2022. It exported fabric worth $37.183 billion in this period, while its total textile exports were valued at $47.217 billion. Numerous small garment-exporting countries are dependent on China for upstream products.China prefers exporting value-added products. The country exported yarn worth $8.130 billion in the period which was 17.22 per cent of the total t
        • Over 60 per cent of consumers will cut down on non-essential categories like apparel, footwear, jewellery, and accessories if they are forced to reduce their holiday shopping budget, according to a recent International Business Machines Corporation (IBM) report. Nearly half of consumers will spend less if inflation continues to drive price increases.As COVID-19 pandemic concerns abate for many consumers, worries are shifting towards uncertain economic and supply chain conditions this holiday sea
        • The global home textiles market is expected to grow at an annual rate of 3.51 per cent between 2020-2025. The market size will reach $151.825 billion by 2025. China will maintain its dominance position in the segment, and will also remain the largest home textiles market in the world with a share of over 28 per cent. India may achieve highest growth.According toFibre2Fashion’s market insight tool TexPro,global market size of home textiles was recorded at $110 billion in 2016. It grew to $127.758
        • To highlight the importance of this global commodity in generating jobs and maintaining economic stability in less developed countries, the United Nations General Assembly declared October 7 as World Cotton Day in 2021.Cotton represents so much more than just a commodity. This natural fiber is a life-changing product worldwide that sustains 32 million growers (mostly women) and benefits over 100 million families across 80 countries (North America, Europe, Asia-Pacific, South America, and Middle
        • Germany imported home textiles worth $3.297 billion during the first half (H1) of 2022. China remained its top supplier with shipment valued at $910.958 million (27.62 per cent), even as its share declined by 38.30 per cent from $1.475 billion in H1 2021. Turkiye, Poland, Netherlands and Pakistan were among the top five supplier countries.Turkiye exported home textiles worth $353.726 million to Germany in January-June 2022, amounting to 10.73 per cent of the latter’s total imports, according toF
        • The US imported industrial textiles worth $807.835 million in the second quarter (April-June) of this year, the highest in more than two years. Increased imports of industrial textiles show improvement in industrial activities in the world’s largest economy. The country’s imports of industrial textiles were valued at$2.941 billion in 2021.US’ imports of industrial textiles increased in the second quarter compared to $720.832 million in the first quarter of the current year, according toFibre2Fas
        • India’s jute and mesta production is expected to decrease to 100 lakh tons in the current kharif season 2022-23 as the sowing area has shrunk, according to the government’s latest estimate. The country produced 103.17 lakh tons of jute and mesta last year. The government data reveals that the production of the two crops has been stagnant for years.India may miss its jute and mesta production target this year, which was set at 105 lakh ton, the Union ministry of agriculture said in its first adva
        • United Nations Conference on Trade and Development (UNCTAD)and World Customs Organisation (WCO) have signed a memorandum of understanding (MoU) to boost customs modernisation by enabling interoperability between UNCTAD’s Automated System for Customs Data (ASYCUDA) programme and various WCO projects.Secretary-general Rebeca Grynspanand her WCO counterpart Kunio Mikuriya signed the agreement on October 4, updating the two organisations’ previous agreement from 2013, according to a press release by
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