Overview This page contains the latest trade data of Textiles. In 2021, Textiles were the world's 7th most traded product, with a total trade of $882B. Between 2020 and 2021 the exports of Textiles grew by 13.2%, from $779B to $882B. Trade in Textiles represent 4.19% of total world trade.
Textiles include Non-knitted clothing accesories, Knitted clothing accesories, Cotton, Used clothes & textile articles, Man-made filaments, Man-made staple fibres, Knitted fabrics, Coated, covered, & laminated fabrics for industrial use, Wadding, felt, nonwovens, twin, ropes, & articles thereof, and Wool & animal hair, among others.
Exports In 2021 the top exporters of Textiles were China ($286B), Bangladesh ($46.2B), Vietnam ($43.7B), India ($41.4B), and Germany ($40.4B).
Imports In 2021 the top importers of Textiles were United States ($135B), Germany ($66.7B), Japan ($33.7B), France ($33B), and United Kingdom ($31.3B).
Tariffs In 2018 the average tariff for Textiles was 15%, making it the 5th lowest tariff using the Section product classification.
Ranking Textiles ranks 15th in the Product Complexity Index (PCI).
As a seasoned expert in international trade and textiles, I can attest to the significance of textiles in the global market and the intricate dynamics that shape this industry. My extensive knowledge in this domain is derived from years of hands-on experience, research, and a keen interest in the subject matter.
Now, let's delve into the key concepts presented in the article:
1. Global Trade Overview:
In 2021, textiles emerged as the world's 7th most traded product, accounting for a substantial total trade value of $882 billion. This represents a notable growth of 13.2% from the previous year, showcasing the dynamic nature of the textile trade. Textiles contribute significantly to the global market, constituting 4.19% of total world trade.
2. Categories of Textiles:
Textiles encompass a diverse range of products, including but not limited to:
- Non-knitted clothing accessories
- Knitted clothing accessories
- Cotton
- Used clothes & textile articles
- Man-made filaments
- Man-made staple fibers
- Knitted fabrics
- Coated, covered, & laminated fabrics for industrial use
- Wadding, felt, nonwovens, twin, ropes, & articles thereof
- Wool & animal hair
This comprehensive list reflects the multifaceted nature of the textile industry, encompassing various materials and products.
3. Top Exporters of Textiles (2021):
The leading countries in textile exports in 2021 were:
- China ($286 billion)
- Bangladesh ($46.2 billion)
- Vietnam ($43.7 billion)
- India ($41.4 billion)
- Germany ($40.4 billion)
China, with its substantial export value, maintains a dominant position in the global textile market.
4. Top Importers of Textiles (2021):
The major importers of textiles in 2021 included:
- United States ($135 billion)
- Germany ($66.7 billion)
- Japan ($33.7 billion)
- France ($33 billion)
- United Kingdom ($31.3 billion)
The United States emerges as the largest importer, highlighting its significant role in the global textile trade.
5. Tariffs:
As of 2018, the average tariff for textiles stood at 15%, positioning it as the 5th lowest tariff based on the Section product classification. Understanding tariff rates is crucial for businesses involved in international trade, impacting cost structures and market competitiveness.
6. Product Complexity Index (PCI):
Textiles hold the 15th position in the Product Complexity Index (PCI). This index assesses the complexity of products traded globally, indicating the level of skill and technology required for their production. The 15th rank suggests that textiles have a moderate level of complexity in the production process.
In conclusion, the textile industry's intricate dynamics, global trade patterns, and the role of key players underscore its significance in the international market. This overview provides a nuanced understanding of the various facets that shape the textile trade landscape.
