Home breadcru News breadcru Fibre breadcru Global exports of sewing thread of synthetic fibres down

Global exports of sewing thread of synthetic fibres down

21 May '20
2 min read
Pic: Shutterstock
Pic: Shutterstock

The global trade of sewing thread of synthetic staple fibres have shown a substantial decline in 2019. Total trade declined 5.16 per cent from $1,066.37 million in 2017 to $1,011.39 million in 2019, according to data from TexPro. The total trade of sewing thread of synthetic staple fibres has declined by 9.37 per cent in 2019 over the previous year.
 
The trade is further anticipated to fall to $943.09 million in 2022 with a rate of 6.75 per cent from 2019, according to Fibre2Fashion's market analysis tool TexPro.
 
The global export of sewing thread of synthetic staple fibres was $664.93 million in 2017, which slightly grew 0.11 per cent to $665.68 million in 2019. Total exports fell 6.34 per cent in 2019 over the previous year and is expected to increase slightly to $666.82 million in 2022 with a rate of 0.17 per cent from 2019.
 
The global import value of sewing thread of synthetic staple fibres was $401.44 million in 2017, which decreased 13.88 per cent to $345.71 million in 2019. Total imports declined 14.69 per cent in 2019 over the previous year and is expected to plunge further to $276.28 million in 2022 with a rate of 20.08 per cent from 2019.
 
China ($421.58 million) and Hong Kong ($53.51 million) were the key exporters of sewing thread of synthetic staple fibres across the globe in 2019, together comprising 71.37 per cent of total export. These were followed by Germany ($19.20 million), South Korea ($18.90 million) and the US ($16.21 million).
 
From 2016 to 2019, the most notable rate of growth in terms of export value, amongst the main exporting countries, was attained by China (1.97 per cent).
 
Hong Kong ($47.17 million), Turkey ($45.23 million), Italy ($15.48 million), Indonesia ($14.37 million) and Germany ($13.06 million) were the key importers of sewing thread of synthetic staple fibres across the globe in 2019, together comprising 39.14 per cent of total import. These were followed by Russia ($12.03 million), Morocco ($12.00 million) and Japan ($11.95 million).
 

ALCHEMPro News Desk (JL)

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