India’s textile & garment exports drop 11.41% to $ 5.56 bn in Apr-May
The proportion of textile and apparel in total exports decreased to 7.99 per cent in the past two months, whereas it was 8.54 per cent during the corresponding period last year.
The textiles and apparel exports of India witnessed a decline of 11.41 per cent, amounting to $ 5.568 billion, during April and May 2023. This figure was lower compared to the $ 6.722 billion recorded in the same period of the previous fiscal year. Similarly, there was a 12.16 per cent decrease in the shipment of textiles and apparel, totalling $ 2.816 billion in May 2023.
According to the most recent trade data released by the government, the proportion of textile and apparel in total exports decreased to 7.99 per cent in the past two months, whereas it was 8.54 per cent during the corresponding period last year. In addition, India’s apparel exports declined by 18.16 per cent to $ 2.446 billion in April and May 2023, compared to $ 2.989 billion during the corresponding period of the previous year.
The exports of textiles also experienced a decrease from $ 3.733 billion to $ 3.121 billion in the past two months. Among various textile categories, the exports of cotton yarn, fabrics, made-ups, and handloom products dropped by 17.90 per cent, reaching $1.808 billion, down from $2.202 billion. Likewise, the shipment of man-made yarn, fabric, and made-ups decreased by 10.27 per cent to $ 788.10 million, down from $ 878.34 million. Carpet exports witnessed a decline of 14.21 per cent, totalling $216.42 million, while handicrafts (excluding handmade carpets) fell by 21.23 per cent to $ 245.59 million during the reviewed period.
In May 2023, the shipment of textiles and apparel experienced a decline of 12.16 per cent, amounting to $ 2.816 billion, down from $ 3.206 billion. The exports of cotton yarn, fabric, made-ups, handloom products, and other similar items decreased by 11.75 per cent to $ 920.28 million (down from $ 1,042.81 million). The exports of man-made yarn, fabric, and made-ups dropped to $ 395.16 million (down from $ 421.75 million). Similarly, the exports of carpets fell to $ 111.25 million (down from $ 127.27 million), and handicrafts (excluding handmade carpets) decreased to $ 123.52 million (down from $ 156.49 million).
India’s import of raw and waste cotton decreased by 30.64 per cent to $ 103.37 million in April-May 2023, down from $ 149.03 million during the same period of the previous year. In May 2023, this import figure dropped by 39.81 per cent to $ 58.07 million from $96.47 million. Furthermore, the exports of textile yarn, fabric, and made-ups witnessed a decline of 14.37 per cent, amounting to $ 349.78 million in the last two months, compared to $408.5 million. The inbound shipment also decreased by 11.93 per cent to $ 188.39 million in May 2023, down from $ 213.92 million in May 2022.