Trends in world textile and clothing trade, January-February 2001

World textile and clothing trade declined for the second year in a row in 1999, as the Asian financial crisis continued to take its toll and the euro depreciated against the US dollar. However, all of the decline was in textiles. Textile exports fell by 2% to US$148 bn, while clothing exports rose by 1% to US$186 bn. Textile exports from Asia to Western Europe fell by 7% while intra-West European textile trade dropped by 9%. However, intra-Asian clothing exports grew by 8% as the Asian economies emerged from the region?s financial crisis, and clothing exports from Latin America to North America went up by 15%.

The US textile and clothing trade deficit rose by another 8.1% in 1999 to US$55.3 bn - 91% of which was in clothing. The EU deficit also increased. But, at US$32.0 bn, it was still only 58% of the US figure - even though the two markets are similar in size. Germany alone accounted for 35% of the EU total.

China continues to have the world?s biggest textile and clothing trade surplus. Italy ranks second - even though it is a high cost country. But South Korea has been closing the gap and could soon become number two. Turkey?s surplus started to decline in 1999 and the country will face intensified competition from Asian countries as quotas are phased out. Portugal, with lower labour costs than Hong Kong and Taiwan, also managed to retain its surplus in 1999.

China has become the world?s leading textile exporter while Germany has dropped from first to third. The USA is the largest textile importer, but China now ranks as high as third. China is also the world?s leading clothing exporter, although six developed countries still rank among the top 15 players. The USA is by far the biggest importer of clothing.

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