Despite rising labour costs, RMB appreciation and lower demand from export markets, China’s textile and apparel industry are still growing at a healthy pace and looks to dominate the global apparel sector, both as a producer and a consumer for years to come.
Browsing: Industry Update
China is now the second largest jeans market in the world, valued at $12 billion in 2015, while consumers’ affinity for denim jumped from 39 per cent to 63 per cent from 2003 to 2016, according to the Cotton Council International (CCI) and Cotton Incorporated’s 2016 Global Lifestyle Monitor Survey.
India’s merchandise exports fell for the second consecutive month in August, going down by a marginal 0.30 per cent.
The Danfoss Group can now call itself the world leader in hydraulic motors after closing its bid to acquire US-based White Drive Products Inc
The EU’s free trade agreement with Vietnam is expected to boost European growth and job creation in the retail sector, as well as the development of Vietnam, according to EU trade negotiators.
Two Taiwanese textile firms have set their sights on the Muslim world, which accounts for about a fifth of the global population (between 12 bn to 1.6 bn), by introducing new technology and innovative designs to appeal to the demographic.
India saw a decline in exports of woolen yarn, fabric and made-ups by 48 per cent and woolen garments by nine per cent in the first quarter of the current financial year.