Trends in World Textile and Clothing Trade - January 2006 Edition

PRLog (Press Release) – Feb 14, 2007 – World textile and clothing trade rose by a significant 11.8% in 2004—following a 13.3% increase in 2003—as the global economy continued to recover. In fact the increases in 2002, 2003 and 2004 were the fastest since 1995, when trade grew by 15%. All major regional textile and clothing trade flows witnessed double-digit growth in 2004. Exports of textiles from Europe to the CIS (Commonwealth of Independent States) expanded by a significant 23% to fuel the growing apparel industries in those countries, and in the reverse direction clothing exports from the CIS to Europe grew by 15%. Similarly, growth in textile exports from North America to Latin America accelerated to 15% and, in the opposite direction, clothing exports also grew by 15%. Asia also did well as its textile exports to Europe and to North America both rose by 18%.

The US textile and clothing trade deficit rose by another 8.5% in 2004 to US$79.35 bn. As much as 89% of the total was in clothing. The EU deficit also rose, but by a more alarming 21.4%, reaching US$43.42 bn. However, this figure represents only 55% of the US deficit—even though the two markets are similar in size. China continued to have the world’s biggest textile and clothing trade surplus, followed by Turkey, Taiwan and Hong Kong—which displaced South Korea.

The world’s biggest textile exporter in 2004 was the EU, with China second. The EU was also the largest textile importer, followed by the USA. But China ranked as high as third. The EU also led the world’s clothing exporters, but China was the biggest exporter when EU intratrade was excluded. As for clothing imports, 45% of the world total went to EU countries in 2004 while the USA took 28% and Japan 8%

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