India’s outbound shipment to Thailand was valued at $30.515 million, to Indonesia $20.395 million, to Cambodia $4.602 million, to Myanmar $2.093 million, and to the Philippines $0.840 million during the same period, according to Fibre2Fashion's market insight tool TexPro.
Globally, the demand for textile products like garments, fabrics, and home textiles reached a peak in 2022. However, economic uncertainty, geopolitical unrest, and the after-effects of COVID-19 dented demand last year. A similar trend was noticed in India’s fabric exports to South and South-East Asian nations in recent years.
As per TexPro, India’s fabric shipments topped at $906.024 million in 2022 but eased to $680.067 million in 2023. Exports to Sri Lanka also peaked at $576.980 million in 2022 but slipped to $480.080 million in the following year.
In 2022, the outbound shipment to Thailand was $93.969 million, to Indonesia $99.442 million, to Cambodia $20.029 million, to Myanmar $11.702 million, and to the Philippines $1.166 million.
In 2023, India’s fabric exports to Thailand were $88.617 million, to Indonesia $79.626 million, to Cambodia $14.821 million, to Myanmar $6.911 million, and to the Philippines $3.580 million.
ALCHEMPro News Desk (KUL)
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