The COVID-19 pandemic has not been the major setback for global trade that many anticipated; rather international trade in goods has surged by as high as 10 per cent above pre-pandemic levels, even in the face of significant supply bottlenecks that constrained further growth, and trade growth is expected to dramatically accelerate in Sub-Saharan Africa, shows a new survey.New poles of trade growth are identified in Southeast and South Asia, according to the new DHL Trade Growth Atlas published b

China and Uzbekistan have signed a trilateral Memoranda of Understanding (MoU) regarding the management of the Kyrgyz section of the China-Kyrgyzstan-Uzbekistan railway project. The Central Asian state also approved the boosting of exports of textiles, shoes, and other goods to China in exchange for the latter to expedite the authorisation of animal and plant quarantine permits for different product categories.The two countries decided to accelerate railway construction in order to strengthen in

Various counts and varieties of polyester and polyester-cotton yarn were traded lower by ₹5-10 per kg today in Indian markets. Traders feel that demand for yarn is not improving due to muted activities in domestic and export markets. Higher prices of polyester raw materials failed to boost market sentiments. Market will have to wait for better sentiments.According to trade sources, there was no significant buying for domestic and export market. Export orders for garment, fabric and yarn were not

Profits of major Chinese apparel firms witnessed steady growth during the first seven months this year, increasing by 4 per cent from a year ago, according to official data. The country's 13,067 major apparel companies raked in profits of 37 billion yuan ($5.35 billion) during the period, according to the ministry of industry and information technology.Exports of garments and accessories increased by 12 per cent to $80.2 billion dollars during the period, the ministry said.Revenues of the co

China’s exports of textiles, apparel and clothing accessories increased to $189.353 billion in the first seven months of the current year, registering a growth rate of 17.35 per cent year-on-year. The latest monthly data released by the General Administration of Customs of China shows that the country’s garment exports grew 19.1 per cent in the same period.Garments and clothing accessories export reached $99.558 billion in the first seven months, which was 18.5 per cent higher than the same peri

Global textiles fibre market is witnessing a sweeping change in share and size. Cotton fibre market is shrinking while polyester fibre market will peak out despite largest share. Vegetation based cellulosic fibre is grabbing a larger market due to its softness and cotton-like feel. The global market is likely to grow to 110.636 million ton (110,636.89 KT) by 2025.According to an analysis based on data fromFibre2Fashion’s market insight tool TexPro,polyester fibre market was 44.672 million ton in

World’s major cotton supplying countries have been affected by extreme weather. Analysts have expressed the fear of a major disruption in the supply of the main raw materials of the clothing and textile sector in the coming days.The largest cotton producing country India has been severely affected by heavy rains and pest attacks. The production shortfall is so acute that India is forced to meet supply demand through imports.Figure: World’s major cotton supplying countries have been affected by e

Canada-China owned enterprise Big Dipper Textile Mills Ltd is set to establish a textile industry in Ishwardi Export Processing Zone (IEPZ) in Bangladesh. An agreement to this effect has been signed between the Bangladesh Export Processing Zones Authority (BEPZA) and Big Dipper Textile Mills Ltd at BEPZA Complex, Dhaka.The executive chairman of BEPZA and member (investment promotion) Ali Reza Mazid and chairman of Big Dipper Textile Mills Ltd Wong Jammy Kwok Chan signed the agreement on behalf o

The euro hit the lowest level against the US dollar in two decades, trading at 0.99 yesterday. Earlier, the euro dropped to under parity with the greenback in July beginning and has dropped by close to 12.8 per cent versus the US dollar this year as economies were hit by peak inflation. The exchange rate has been sliding since May 2021, when it was at 1.22.The exchange rate was 1.12 when the year started and 1.02 in August beginning.Yearly inflation stood at 8.9 per cent in July in the euro area

China’s value-added industrial output went up by 3.8 per cent year on year (YoY) in July and 0.38 per cent over the June figure. The country's retail sales of consumer goods rose by 2.7 per cent YoY last month. Other major economic indicators including the index of services production and fixed-asset investment, also posted YoY growth, National Bureau of Statistics (NBS) data showed.The steady economic recovery led to a drop in urban unemployment rate from 5.5 per cent in June to 5.4 per cen