Textile trade plays a key role in the economic output of many countries. The textile industry creates jobs for 40 million people around the world. In the past 20 years, the textile industry has been one of the two most dynamic sectors in the world (the other is electrical and electronic products). Many developed countries have tried to protect their domestic industries through quotas and tariffs, away from international competition, and many of the latest trends in the nature of the textile and clothing industry. With the proliferation of trade agreements, market integration has become a growing trend. In the past decade, the global apparel trade has become faster and faster. In 2003, the world textile trade grew by 12.9% and in 2004 it increased by 11.6%. In 2006, the world textile trade grew by 9.7 percent from the previous year to reach $530 billion. By observing demand and supply trends, industry analysts predict that by 2010 world textile consumption will exceed 127 billion tons.
After the end of the Agreement on Textiles and Clothing (ATC), textile and apparel production will be transferred to countries with competitive advantages. Developing countries such as Asia provide a rich workforce and textile production will expand. At the same time, this will lead to increased textile imports in developed countries because they lack the comparative advantage of textiles.
In 2006, the EU was the world's largest textile exporter, followed by China. When it comes to textile imports, the EU has once again become the largest importer, followed by the United States and China. China has the largest trade surplus in textiles and apparel. Followed by India, Italy, Turkey and Pakistan. The current financial market turmoil began in the United States and gradually spread throughout the world. Many industrial sectors were scarred and the textile industry was not spared. However, as the Chinese proverb says: “Crisis is an opportunity to manage riskâ€, textile companies are optimistic and confident to face challenges and look for opportunities that threaten manufacturing.
Global textile trends:
Increased demand for home textiles:
Consumers will dominate the demand for the home textile market. Mr. Olaf Schmidt, vice president of the Frankfurt Textile Fair, commented on the reasons for the current economic downturn and said he expects high growth in the world textile market by 2010. He said: "We rely on the long-term development of textile production and consumption, including households, contracts, technology and clothing. This is the basis for the prediction of the textile industry and the main organizers of the World Textile Expo like us. No one can be at such an early stage. To make predictions, we are the same, and we cannot predict how much the current global economic crisis will affect our market.
Functional fabric:
Consumers are now not limited to finding fashionable clothing. In addition, they will consider the comfort and health aspects of the garment. Not only textiles, but also clothing made of functional fabrics with special functions. For example, textiles that prevent skin irritation, fabrics that have antibacterial and anti-microbial functions, ironing-free garments, and garments that are kept warm during the cold season. Functional textiles will capture the growth of the global market in the next few years.
Environmentally friendly clothing will become a bright spot:
Elevated temperatures, melting glaciers, and other disasters clearly indicate the environmental damage that life now has. At present, people are increasingly aware of global warming. Many of the management disciplines that have been approved address environmental damage by assessing, authorizing, and restricting chemicals in fabrics. The EU's "REACH" is an example. Eco-friendly textiles include non-toxic, carbon-reducing, recycled, energy-saving and biodegradable fabric qualities. The textile industry worldwide is currently responding to global environmental trends.
A large investment in research and development of environmentally friendly fabrics. Following functional textiles, eco-friendly textiles are a potentially lucrative market segment.
Dr. Agarwal of Shri Lakshmi Cotsyn Ltd. launched its first environmentally friendly brand in India. “There is a growing awareness of the environment and health of consumers around the world. A huge market with a market value of more than Rs 1 billion is We are waiting for our eco-friendly products. Indian wholesalers, customers in the US and Europe are very welcome to our products. We have received orders for approximately 80,000 sheets since the wholesaler started the wholesale date."
Supply chain shortening:
In general, the textile supply chain from the manufacturer to the distributor, the inventory wholesaler or retailer, the wholesaler, and finally the retailer, the retailer is the last link in the supply chain. Current trends indicate that organized retailing will become more and more popular, fabrics will be purchased directly from the manufacturer and canceled by the middleman. 'Electronic-application' will appear at all stages of the supply chain. This will increase flexibility and shorten the entire value chain, reducing preparation time from order to delivery.
Main countries:
Asia:
The Asian textile industry has made a significant contribution to improving the livelihoods of billions of people. From Asia to Africa, textiles in the EU and North America grew by 19% 11% and 9% respectively. Among Asian countries, India has the highest amount of foreign exchange recovered through textile exports. India has the world's leading looms and shuttle looms. Mr. Heinrich Fischer, president of Saurer Textiles, said that after the textile quotas were over, the textile industry was transferred to Asia. He further pointed out that in Asia, large, vertically integrated countries such as China, India and Pakistan may be the biggest beneficiaries. Bangladesh, Cambodia and Vietnam will be the main beneficiaries of the post-quota period, as well as China. The US and EU quota restrictions will not affect China's textile trade. In 2006, US textile exports to the United States rose to 25%, higher than the 21% growth rate of the previous year.
United States:
From January to September 2008, US textile and apparel imports were $70.7 billion. It is 3% less than the previous year's import figures. In 2007, US textile production declined for the tenth consecutive year, dropping to the lowest level in the past 35 years. In the past 10 years, US apparel imports have grown more than textile imports. India and China will become major textile and apparel suppliers. The number of US clothing imports will be greater than textiles.
Egypt:
The textile industry is a major source of foreign exchange or a source of income in Egypt, accounting for a quarter of industrial production and providing employment for one-third of the industrial workforce. At present, the country only has a market share of 1% of global textile trade. Its main markets are the United States and the European Union. Industry analysts look forward to the Qualified Industrial Park Agreement and the EU-Egypt Alliance Agreement to play an active role in promoting the rapid development of the textile industry, especially if it can attract more investment in the machine sector.
Sri Lanka:
As an integral part of Asian countries, the textile industry has been a major contributor to Sri Lanka's economy and foreign exchange earnings. Despite the upward trend in the past few years, the textile industry has slowed down this year. The United States is Sri Lanka's largest export market, but due to economic turmoil, the United States has affected Sri Lanka's exports. Sri Lanka is adopting a 'green' strategy to create environmentally-friendly products in a moral and economic manner, attracting international buyers who follow environmental trends.
EU:
During 2007, EU exports fell and imports increased. Due to fierce competition from low-cost producing countries, developed countries within the EU will lose their share of the international market, and EU regional partners will lose their market share. Processing trade in North Africa and Turkey is also decelerating due to the crisis to the textile companies in the European Union.
Vietnam:
In the past decade, the textile industry in Vietnam has experienced a period of rapid development. Their textiles and clothing have been integrated into the global market and are growing at an increasing rate year after year. Mr. Li Quanan, President of Vietnam National Textile and Apparel Group (Vinatex) said: “Textiles and garments play a very important role in the Vietnamese economy. There are about 2,500 companies in the textile and garment industry, which have achieved remarkable development in the past few years. Since 2000 From now to now, the textile industry has achieved an annual growth rate of 20%, creating 2 million jobs, and contributing 17% to Vietnam's export earnings, second only to crude oil."
Mr. Li Quanan further predicted the prospects for this year: “Despite the difficulties encountered in 2008, including the global financial crisis, fierce competition from textile and clothing powers, high domestic inflation, and labor fluctuations, textile and apparel exports in the first 10 months of 2008 It still reached US$7.6 billion, a year-on-year increase of more than 20%. However, due to the decline in purchasing power caused by the global economic downturn, the textile industry's 2008 export turnover may not be completed at $9.5 billion.
In the past few years, the economy has prospered, and companies, manufacturers, retailers and brands have grown. The current crisis is a 'severe test' for the textile industry, and companies that are under-prepared may be beaten. In the past 40 years, textile trade has proven to be the most effective tool for promoting a country's economic development. It helps create jobs, increase foreign exchange earnings, and promote industrialization and diversification. In order to stay ahead of the global trend, countries must recognize the future direction of the textile industry.
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