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Overview Of Textile And Garment Trade In Major Countries And Regions In 2020

2021/6/23 0:04:00 0

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In 2020 Major National Regional Textile And Clothing Trade

In 2020, affected by the outbreak of new coronavirus, the international trade of epidemic prevention materials such as masks and protective clothing will be more active, while the trade scale of consumer goods such as clothing will be significantly reduced. Relying on the advantages of a complete industrial chain, the export competitiveness of China's textile industry has been steadily released, and the export scale of textiles and clothing in South Asia, Southeast Asia and other countries has decreased.

Terminal consumption in developed economies is sluggish, and China's market share remains stable

The import of masks in major developed economies increased significantly, which led to the significant expansion of textile import scale and the decrease of clothing import. In 2020, the European Union and Japan imported 20.62 billion euro (about 24.6 billion US dollars) and 518.73 billion yen (about 4.75 billion US dollars) from the world respectively, accounting for 48.1% and 41.7% of the textile imports in the same period, respectively. The import amount of textiles from the European Union and Japan increased by 61.1% and 31.5% respectively year-on-year. The United States imported 8.56 billion US dollars of masks, accounting for 25.1% of the textile imports in the same period, while the imports of other textiles other than masks decreased by 6.6% year-on-year (the United States has not published the import volume of masks in 2019, so it is impossible to calculate the growth rate of all textile imports including masks).

Figure 1 ? Year on year growth of import amount of textiles and clothing in major developed economies in 2020

Note: the import data of textiles and clothing published by the United States in 2020 does not include masks, while the import data of EU and Japan include masks.

Source: U.S. textile and clothing office, Eurostat, Japan Customs

The epidemic has had a substantial impact on the employment and income of residents in developed economies. In addition, household isolation, reduced social activities and other consumption scene change factors have led to poor sales of clothing and other non essential end consumer goods. The retail sales of clothing and apparel in the United States, Europe and Japan fell to a historical low in April 2020, and then gradually recovered. However, the epidemic situation in autumn and winter again impacted on the retail market, and the annual retail sales still decreased significantly. In 2020, the total retail sales of clothing and apparel in the United States will reach US $1973.55 billion, a decrease of 26% over the same period last year; The retail sales of textiles, clothing and apparel in Japan were about 79.3 billion US dollars, down 21.4% year on year; The retail sales of textiles, clothing and footwear in EU decreased by 24.4% year on year. In 2020, the import volume of clothing in the United States, the European Union and Japan will decrease by 23.5%, 13.5% and 15% respectively.

Figure 2 ? Monthly year on year growth of clothing retail sales in major developed economies

Data sources: US Bureau of economic analysis, Eurostat, Japan Ministry of economy and industry

Under the overall stable situation of epidemic prevention and control in China, China's textile industry has a complete competitive advantage, becoming the only major textile and garment producer in Asia to achieve positive export growth, and its share of the international market has increased accordingly. According to the data of China Customs express, in 2020, China exported 291.22 billion US dollars of textiles and clothing, with a year-on-year increase of 9.6%. According to the relevant statistical data of the United States, Europe and Japan, China's proportion in the total imports of textiles and clothing in the United States, the European Union and Japan in 2020 will be 33%, 43.9% and 58.6%, respectively, which will be 0.2%, 13.1 and 3.3 percentage points higher than that in 2019. Among them, China's mask products occupy an absolute advantage, accounting for 83%, 91.3% and 89.9% of the import value of masks in the United States, the European Union and Japan, respectively.

Figure 3 ? The share of China's textile and garment products in the main import markets

Source: U.S. textile and clothing office, Eurostat, Japan Customs

The export scale of textiles and clothing in other developing economies has generally been reduced

In 2020, the export scale of the main textile and garment producing countries in South and Southeast Asia will be reduced to varying degrees. According to relevant statistics, Bangladesh, Vietnam and Indonesia will export US $29.71 billion, US $33.55 billion and US $5.86 billion respectively to the world in 2020, with the export volume decreasing by 11.8%, 9.3% and 17.2% respectively. India has exported 21.67 billion US dollars of textiles and clothing in 2020-2021 fiscal year (data from April 2020 to January 2021), with a year-on-year decrease of 19.3%. In terms of product structure, according to the available data, the textile export situation of the above four countries is generally better than that of clothing, but only Bangladesh's textile export volume has achieved a positive growth of 21.6%. The textile exports of the other three countries decreased to varying degrees, but the decline of clothing exports was more significant than that of textiles. The clothing exports of India and Bangladesh decreased by 26.4% and 12.7%, respectively, 13.6% and 34.3% higher than those of textiles.

Turkey is also one of the top ten countries in the world in terms of textile and clothing exports. In 2020, Turkey exported 27.08 billion US dollars of textiles and clothing, with a year-on-year decrease of 3.9%, of which the textile export value decreased by 0.7% and the clothing export value decreased by 6.3%.

Figure 4 ? Growth of textile and garment export volume in some countries

Note: the fiscal year of India is from April to march of the next year, and the export data of India in this figure is from April 2020 to January 2021.

Data sources: Vietnam customs, Bangladesh customs, Turkish Bureau of statistics, Ministry of Commerce and industry of India, statistics Indonesia