As per data from the recently published World Trade Statistical Review 20170 by the World Trade Organization (WTO), the current dollar value of world textiles and apparel exports by top 10 countries totalled $246 billion and $384 billion respectively in 2016, falling significantly by $22 billion and $3 billion respectively when compared to the previous year. China remained the leading exporter of textiles in 2016 with a 37 per cent share, despite the fact that its exports fell by 3 per cent. The second spot was taken by the EU with a 23 per cent share, growing by 1 per cent in 2016 and India with a 6 per cent share, showing a fall by 6 per cent. Pakistan rose from ninth to seventh position while Vietnam entered the top 10 for the first time with a 2 per cent share, an increase of 9 per cent.
Over half of the top 10 textiles exporters recorded a decline in the value of their exports with the highest fall of -13 per cent seen by Hong Kong, followed by Taiwan (-8 per cent), South Korea (-6 per cent) and India (-6 per cent), the US (-per cent) and China (-3 per cent).
The top 10 exporters of clothing in 2016 remained the same, however, Hong Kong (China) dropped from fifth to sixth position and India did the reverse by rising to fifth place. China’s exports of clothing fell by 7 per cent but it still stayed in top position by showcasing 36 per cent in value of world exports of clothing in 2016.
EU exports of clothing increased by 4 per cent in 2016, to touch a market share of 26 per cent. The highest increases were recorded by Cambodia and Bangladesh (both by 6 per cent). Exports of China and the US dropped the most by 7 per cent and 6 per cent respectively.
In terms of value, the EU, the US and China were the top three importers of textiles in 2016 accounting for 37.9 per cent of world textile imports. This was followed by Vietnam, Japan, Hong Kong (China), Bangladesh, Mexico, Turkey and Indonesia.