US loses top spot in Germany's industrial textile exports

According to Fibre2Fashion's market insight tool TexPro, Germany's total exports of industrial textiles were slightly up from $2,639.501 million in 2022. A closer analysis of the trade data shows drastic changes in Germany's top buyers' list. The US was the top market with shipments of $206.357 million in 2022, accounting for 7.82 per cent of Germany's total exports of industrial textiles in that period. Among the top five markets, the shipment to Poland, the second-largest market, was $193.748 million (7.34 per cent), China $182.814 million (6.93 per cent), Italy $163.408 million (6.19 per cent), and France $132.550 million (5.02 per cent).

Shipments to the US declined by 11.16 per cent to $183.727 million in 2023. Therefore, it lost its position as the largest market for Germany's exports of industrial textiles, falling behind Poland, which became the top buyer despite a decline in shipments from Germany. Trade with Poland dropped just 2.07 per cent to $189.461 million in 2023, as per TexPro.

Similarly, China also lost its third slot, falling to fourth due to lower exports to the country from Germany in 2023. Its shipments to China declined by 18.68 per cent to $148.769 million in the same year. Interestingly, Germany’s exports to Italy and France increased to $148.769 million and $134.778 million, respectively. Out of the total exports of industrial textiles in 2023, the share of the top five markets was noted as Poland 7.03 per cent, the US 6.82 per cent, Italy 6.18 per cent, China 5.52 per cent, and France 5.00 per cent.

ALCHEMPro News Desk (KUL)