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Global apparel trade to recover in the coming months: TexPro

08
Jun '21

Pic: Shutterstock

Global apparel exports are expected to rise in coming months as the world slowly recovers from the COVID-19 pandemic. The top apparel exporting countries such as China, Bangladesh and Vietnam are bouncing back rapidly as their governments and industry stakeholders make efforts to pull the industry out of the crisis caused by the pandemic.

The global apparel exports were $386.05 billion in 2019, which dropped by 14.02 per cent to reach $331.92 billion in 2020 due to the impact of the pandemic on normal life, businesses as well as the economies across the world, according to Fibre2Fashion’s market analysis tool TexPro.

The monthly average of the global apparel exports in Q1 2021 dropped to $24.16 billion, recording a decline of 12.66 per cent over the monthly average in 2020 due to the multiple waves of the pandemic in the western countries that are major importers of apparel in the world.

However, the monthly average of apparel exports is expected to be $26.55 billion in the remaining period of 2021, rising by 9.91 per cent over the monthly average in Q1 2021.

Major apparel suppliers and importers such as the US, the EU, China, Vietnam, Bangladesh, Cambodia, India and Indonesia are focusing on their vaccination drives and development. Many economies have also introduced sustainable techniques for production and transport sectors to boost exports.

Fibre2Fashion News Desk (KD)

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