China’s PSF exports surge 24.7% Y-o-Y in November 2023
China’s PSF exports surged by 24.7 per cent Y-o-Y and 1 per cent M-o-M to 106,000 million tonne in November 2023. Its PSF imports rose by 46.7 per cent Y-o-Y and 25 per cent M-o-M to 11,000 million tonne.
China’s PSF exports in the first 11 months of 2023 increased by 22.8 per cent Y-o-Y to 1.115 million tonne while imports during the period surged by 10 per cent Y-o-Y to 91.5000 tonne.
China’s PSF imports from Southeast Asia started declining from 2019. Though these recovered slightly in 2023, imports from large origins, like Thailand and Vietnam, continued to dip from their peak period.
China’s imports from Vietnam soared to 30,567 tonne in 2021. However, in 2022, they dropped by 64.8 per cent to 10,773 tonne. From January-November 2023, China’s PSF imports from Vietnam further dropped to 17,123 tonne.
Imports from Thailand reached 45,000 tonne in 2019 before dropping gradually. China’s PSF imports from Thailand continued to drop and reached 17,208 tonne.
From January-September 2023, these imports further dropped to16,891 tons.
China’s PSF imports from Cambodia totaled 1,261 tonne in 2021. These declined to 664 tons in 2022, further to zero till now in 2023.
Overall, China’s PSF imports from Southeast Asia totaled 46,658 tonne in January-November 2023. They constituted 51 per cent to the China’s global PSF imports.
India’s apparel exports drop by 13.29% during Jan-Oct’23
India’s apparel exports declined by 13.29 per cent to $12.19 billion during the January-October 2023 period from $14.05 billion recorded in the same period of 2022.
As per a report by Apparel Resources, India’s apparel exports to major destinations including the US, UAE and UK dipped during the ten-month period.
India’s apparel exports to the US declined by 20.58 per cent to $3.90 billion in the mentioned period, whereas the exports to the UAE fell by 6.25 per cent to $1.18 billion in the January-October ’23 period.
Shipments to the third largest export destination-UK dropped by 12.12 per cent to $ 945.21 million in the January-October ’23 period.
This drop in India’s apparel exports to major destinations can be attributed to the fluctuating global economic scenario and inflationary pressures in the key economies worldwide.
Asia fashion e-commerce market to grow at 9.5% CAGR till 2030: CoherentMI
Currently worth $521 billion, the Asia fashion e-commerce market is projected to grow at a 9.5 per cent CAGR to reach $985 billion by 2030.
As per a report by CoherentMi, growth in the Asia fashion ecommerce market during the forecast period will be fuelled by the rising adoption of smartphones and growing internet penetration. Another key driver will be Asia’s rapidly expanding middle class population.
The Asia fashion e-commerce market will also get a boost from the exponential increase in smartphone and internet users in the region over the past few years. With devices becoming more affordable, smartphone adoption in countries like China, India, Indonesia, Vietnam and Philippines has grown exponentially, making e-commerce more accessible to a large consumer base.
One of biggest emerging opportunities in the Asia’s fashion e-commerce market is live streaming. Brands and influencers are using platforms like Twitch, YouTube and Facebook live to host live try-on hauls, tutorials and reviews. This enables customers to engage in real-time through chat features while watching new collections and get their questions answered instantly.
Export of men’s declines by 2.32% Y-o-Y during Jan-Oct’23
India exports of men’s t-shirts declined by 2.32 per cent Y-o-Y during the January to October ’23 period to reach a total value of US $ 1.43 billion, according to the latest data from the Ministry of Commerce and Industry.
Exports of knitted shirts declined by 8.37 per cent to $556.22 million while woven shirts exports declined by 1.97 per cent to $872.71 million.
With exports worth $526.62 million, the US maintained its position as the leading export destination. It represented almost 37 per cent of the total export value.
However, exports to the country declined by 7.88 per cent Y-o-Y.
India’s exports of men’s t-shirts to its second-largest export destination, UAE declined by 3.64 per cent Y-o-Y to $158.55 million compared to the same period in the previous year.
Exports to the third largest destination, the UK declined by 0.30 per cent Y-o-Y to $87.22 million.
Export of men’s shirt constituted approximately 11.73 per cent of India’s overall apparel export values of $12.19 billion during the January to October ’23 period.
Sri Lanka’s RMG exports decline to $3.75 billion during Jan-Oct’23: SLAEA
Sri Lanka’s RMG exports declined by 20.55 per cent decline to totaling $3.75 billion during the period from January to October 2023, as per data from the Sri Lanka Apparel Exporters Association (SLAEA).
Sri Lanka’s RMG exports to the EU, during the period, declined by 19.15 per cent to $1.14 billion while exports to the United States declined by 24.75 per cent to $1.49 billion.
Together, the EU and the US accounted for 70.33 per cent of the overall shipment values.
On a monthly basis, Sri Lanka’s RMG declined to $330.95 million in October ’23, the worst 10th month for Sri Lanka’s apparel exports in the last five years.
The previous lowest shipment value was recorded in October ’20, the pandemic year, with an export value of $331.14 million.
Dony Garments to focus on European and American markets
Leading manufacturer and exporter of garments in Vietnam, Dony Garments plans to focus on the European and American markets.
The company aims to provide high-quality custom-made uniforms and protective gear to international customers. Made with high-quality materials and fabrics from reputable suppliers, these garments are manufactured under strict production processes to ensure the quality of its customers' uniforms and protective gear.
Dony Garments provides high-quality custom-made uniforms and protective gear at a reasonable price. The company responds to the demand with a quick turnaround time. Its custom-made uniforms and protective gears are suitable for businesses and organisations in the European and American markets.
Based out of Vietnam, Dony Garment is on a mission to provide unmatched services for all kinds of companies in the country. Their wide range of apparel manufacturing services covers EXW, FOB, CIF, DDU, DDP, CM, AMPT, and FPP.
Rajasthan garment makers seek ODOP recognition
Rajasthan's garment manufacturers are urging the industries department to recognize their sector under the one-district-one-product (ODOP) initiative, seeking benefits similar to those provided by Uttar Pradesh (UP) and other states.
Currently, the department has included the gem and jewelry sector in ODOP, though the benefits are pending announcement. The ODOP's goal is to boost district-wise exports of at least one product.
Highlighting the upcoming global textile expo organized by the Union textile ministry in Delhi, the Garment Exporters Association of Rajasthan (GEAR) has emphasized the advantages UP offers its manufacturers.
Under the ODOP scheme, UP refunds up to 75% or Rs 50,000 (whichever is higher) for state exhibitors' stall charges at fairs and exhibitions within the state. Additionally, it provides Rs 1.5-2 lakh for participation in national and international events, along with reimbursing 75% of transport and travel expenses for exhibitors.
Fair Association, highlighted the significance of the global textile expo, offering Rajasthan's textile and garment industry a platform to showcase products and learn about industry trends. Despite multiple discussions with the industries department, concrete actions have yet to be taken.
Motex textile show returns to boost Syrian economy
Syria is set to revive its economic landscape with the return of the Motex – Khan el Harir show, a once-prominent trade fair until 2014.
Hosted at the Damascus Exhibition Park from January 1 to 14, the event, organized by the Damascus Chamber of Commerce, in collaboration with industry chambers and associations, focuses on textiles.
With a rich history, Motex has been a key player in enhancing Syria's textile sector competitiveness.
The show's significance extends beyond borders, attracting importers from Arab nations like Algeria, Libya, and Egypt.
Aiming to rejuvenate economic ties, Motex promises to be a pivotal event in the region.
Vietnam to record 9% decline in T&A exports to the EU: VITAS
Vietnam’s textile and garment exports to the EU are expected to decline by over 9 per cent to $40 billion this year.
Becoming the biggest importer from the country, the US imported textile and garment products worth $11 billion from Vietnam by September-end, show figures from the Vietnam Textile and Apparel Association(VITAS). The country’s achievement was followed by that of Japan, the EU, the Republic of Korea, Canada, and China.
However, in 2023, the Vietnam textile and garment industry faces significant challenges, adds the association. These include the lingering global impact of the COVID-19 pandemic and an accumulation of a large inventory due to a decline in demand, it affirms.
To counter these, the industry needs to focus on diversifying markets, products, customers and partners, VITAS notes.
In recent times, Vietnam gained a significant position in the global textile and apparel market by expanding its export base. Last year its textile and garments exports to the global market surpassed $44 billion.
Centre to set up seven PM MITRA parks
The central government plans to set up seven Pradhan Mantri Mega Integrated Textile Region and Apparel (PM MITRA) parks across the country and is setting up special purpose vehicles for the same.
As per reports, these parks will be set up at Virudhunagar in Tamil Nadu, Warangal inTelangana, Navsari in Gujarat, Kalaburagi in Karnataka, Dhar in Madhya Pradesh, Lucknow in Uttar Pradesh, and Amravati in Maharashtra. The government has already incorporated SPVs in Gujarat and Uttar Pradesh for the project and is further setting SPVs in Madhya Pradesh, Tamil Nadu, Telangana, Maharashtra, and Karnataka.
The project will be implemented by the Ministry of Textiles. Around 49 per cent of the project cost will be covered by the central government with the respective state governments investing the remaining 51 per cent.
Each of the Greenfield parks will be set up with an investment of Rs 800 crore while brownfield parks will be set up at an investment of Rs 500 crore. Land and utility infrastructure for the project will be provided by each of the state government. The PM MITRA parks will help create a world-class infrastructure for the textile sector.
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Italy records 54% rise in silk yarn imports in September 2023
Italy’s silk yarn imports increased by 54 per cent to $16 million in September 2023, As per IndexBox estimates, the volume of these imports surged by 47 per cent to 192 tons million during the month. From September 2022-2023, Italy’s silk yarn imports rose by 1.8 per cent in value.
In September 2023, Italy’s silk yarn imports from Romania totaled 125 tons and constituted 65 per cent of its total imports. From September 2022 to September 2023, imports from Romania grew by 3.3 per cent on a monthly basis while imports from China reported a negative growth of -4.2 per cent and from Vietnam imports by -2.3 per cent M-o-M.
Italy’s silk yarn imports from Romania grew to $11 million in September 2023. It comprised 69 per cent of the country’s total imports. Imports from China totaled $3.3 million and constituted 21 per cent share of total imports.
From September 2022 to September 2023, the value of Italy’s silk yarn imports from Romania grew to 4.7 per cent on a monthly basis, Imports from China grew by -3.8 per cent M-o-M while that from Vietnam grew by -2.4 per cent M-o-M.
China’s annual cotton production declines by 6.1% in 2023: NBS
Unfavorable weather conditions in the major producing regions led to China's annual cotton production declining by 6.1 per cent to 5.618 million tonne in 2023, shows data from the National Bureau of Statistics (NBS).
China’s total area under cotton cultivation declined by 7.1 per cent during the year to 2.7881 million hectare. Meanwhile, the national average output per hectare increased by 1.1 percent.
Wang Guirong, Official, NBS, says, unsatisfactory weather conditions such as lower temperatures and more rainfall in spring alongwith long-lasting heatweaves were the main reasons behind the decline in per hectare cotton production in China.
However, production in the Yangtze River basin increased per hectare due to a low foundation caused by persistent high temperatures and droughts last year.
The total area under cotton cultivation along the Yellow River also increased per hectare output due to improved management, adds Wang.
Wax London launches AW collection with a new campaign
The AW23 collection of London-based fashion brand Wax London launched with a new campaign titled ‘Driving Home for Christmas,’ Focusing on winter wear garments, the collection is characterised by a rich color palette and introduces 100 designs in winter shades of browns, greens, blues, and burgundy.
A few of the collection’s signature pieces include the Wax Whiting Overshirt, the sell-out Chester Coat, the Navarino trench coat, and three new coat silhouettes in various colors. The collection also offers a variety of waist-length jackets, including the new Otto Overshirt and the return of the Iggy Jacket in Jacquard and Wool for colder days.
The outerwear promotes layering in signature pieces like the Whiting Overshirts, Greenland jacket, Sasso car coat, Santoni Coat, Chester Coat, and the reissued Navarino Mac coat.
The "Driving Home for Christmas" campaign for this collection depicts the adventures of three best friends exploring the city of London day and night. According to the brand, the campaign captures the ethos of London.
Inspired by autumnal weekend getaways away from the city, the Wax London AW23 collection offers stylish, sustainable, and versatile garments. It blends classic silhouettes with new fabrics to create a comfortable and luxurious collection for the winter.
Bangladesh overtakes China in knitwear exports to EU: Eurostat
For the first time ever, Bangladesh’s knitwear garment exports to the EU overtook China’s during the January-September 2023 period. The surge was observed both in terms of value and volume of exports.
Figures from Eurostat show, Bangladesh’s knitwear garment exports to the EU surged to $9 billion during the nine-month period as against $8.96 billion exports by China.
Bangladesh achieved this feat by exporting higher value-added garment items, particularly activewear, says Faruque Hassan, President, BGMEA.
However, on a Y-o-Y basis, Bangladesh’s knitwear exports to the EU declined by 20.94 per cent as demand slackened and inflation rates in the EU rose
Knitwear sector in the EU experienced a 17.71 per cent decline in imports amounting to €31.94 billion during the January-September period compared to the previous year, Eurostat data shows.
Sluggish demand for apparel products led to a 17.66 per cent Y-o-Y decline in apparel imports by the region, totaling €13.69 billion.
The industry should focus on non-cotton-based athleisure items for exports in future, advises Hassan. It should also remain committed to responsible and sustainable manufacturing, setting a global example, he adds.
Fazlee Shamim Ehsan, Vice President, BKMEA, attributes Bangladesh's rise a leading exporter to China's shift away from low-end products and Bangladesh's successful establishment of strong backward linkages.
The country continues to outperform its competitors, despite a 23.33 per cent Y-o-Y decline to $5.78 billion in apparel exports to the United States, adds Hassan.
He attributes the recent slowdown to a gloomy global economic outlook, predicting a challenging year for the apparel trade in 2023.
