India's apparel exports to Nordic region up in recent years

India's exports to the Nordic regions have seen significant growth in recent years. Denmark and Sweden emerged as the leading markets in these regions for India's textile exports, with India's apparel exports to the area also showing an upward trend. In the current year, India's apparel exports to Denmark and Sweden were valued at $156.475 million and $105.922 million respectively until August. 

Piyush Goyal, minister of textile, commerce and industry, stated at the 2nd CII India Nordic-Baltic Business Conclave 2023 recently in New Delhi that India's exports to the Nordic region grew by over 39 per cent in 2022-23 compared to 2018-19. The outbound shipments to Finland and Norway jumped by over 100 per cent and 80 per cent respectively. 

Trade data from Fibre2Fashion's market insight tool TexPro also indicated gains in textile exports to Nordic countries. India's apparel exports to Denmark increased by 16.6 per cent to $266.593 million in 2022 from $228.610 million in 2021, with earlier figures noted at $191.916 million in 2020 and $224.636 million in 2019. From January to August 2023, shipments to Denmark reached $156.475 million. 

Similarly, India's apparel shipments to Sweden rose by 19.25 per cent to $161.106 million in 2022, up from $135.105 million in 2021. During January to August 2023, India exported apparel worth $105.922 million. Apparel shipments to Norway and Finland were recorded at $15.252 million and $6.352 million, respectively, during the first eight months of the current year, as per TexPro. 

India's outbound shipment to Norway was recorded at $16.368 million in 2022, $15.285 million in 2021, $13.714 million in 2020, and $18.141 million in 2019. Similarly, trade with Finland was recorded at $14.456 million in 2022, $13.803 million in 2021, $14.255 million in 2020, and $15.931 million in 2019. 

India's apparel exports to smaller Nordic countries like Latvia, Estonia, Iceland, and Lithuania were not as significant. During the first eight months of the current year, the shipments to each of these countries were less than $1 million. 

ALCHEMPro News Desk (KUL)