China's yarn exports dip globally in 2023 but rise in Indian market

China's yarn exports were valued at $14.983 billion in 2022, when its yarn shipment to India was recorded at $1.370 billion. This accounted for 9.81 per cent of China's total yarn exports for the year, according to Fibre2Fashion's market insight tool TexPro.

In 2023, China's yarn exports totalled $13.678 billion, which was 8.70 per cent lower than the shipments of the preceding year. However, the shipment to India in 2023 slightly increased by 2.84 per cent compared to the preceding year's trade. The share of yarn shipment to India also rose to 10.30 per cent of China's total shipments.

Interestingly, India was not only the top purchaser of Chinese yarn but also the only country among the top five geographies where the shipment remained positive. The top five markets included Vietnam, Bangladesh, Turkiye, and Brazil.

Chinese yarn exports to Vietnam declined by 18.01 per cent to $1.205 billion in 2023, which constituted 8.82 per cent of the total. Yarn shipments to Bangladesh were valued at $1.088 billion in 2023, showing a 23.48 per cent decrease from the 2022 shipments. The share of shipments to Bangladesh was 7.96 per cent of the total in 2023. Yarn exports to Turkiye decreased by 4.7 per cent to $812.574 million last year, accounting for 5.94 per cent of the total. Brazil's share in China's total yarn exports was 5.53 per cent in 2023 when the trade decreased by 7.24 per cent to $756.011 million, as per TexPro.

It should be noted that the slowdown in the textile and apparel market discouraged the global trade of its raw materials. However, China managed to increase yarn exports to India by offering attractive prices to the Indian industry.

ALCHEMPro News Desk (KUL)