India's garment exports to Singapore drop in volume, but avg price up

According to Fibre2Fashion’s market insight tool TexPro, the average price of large garments increased from $5.99 per unit to $6.48 per unit during the year 2023. While total value of large garment exports inched up to $37.542 million in the last year from $37.134 million in 2022.

India classifies and records trade of garments in units (for large garments), kilogram, and pairs (small garments) as per size and value of garment to make data more realistic. Its 80 per cent garment exports to Singapore were classified under large apparel.

In terms of kilogram, India’s garment exports to Singapore were noted at 94,879 kg in 2023, which was 27.70 per cent lower than the exports of 130,646 kg in 2022. Its value also decreased to $2.262 million from $3.665 million in the same period. The average price dipped from $28.06 per kg to $23.85 per kg.Similarly, the exports of small garment traded and counted in pairs also eased to 127,027 pairs in the last year from 129,634 pairs in 2022. The value of the trade declined to $0.480 million from $0.515 million during the same period. The average price fell from $3.98 per pair to $3.78 per pair in the year 2023, as per TexPro.

ALCHEMPro News Desk (KUL)