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2023 Most Difficult Year For Vietnam Textile & Garment Exports

Textile Insights January 8, 2024

2023 has been the most difficult year for textile and garment exports in the past 29 years. This was said by Cao Huu Hieu, Director of Vietnam Textile and Garment Group (Vinatex). Hieu said this while addressing a press conference while summarising the developments in the Vietnamese textile and

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Textile Exporters Hold Back Shipments Amid High Freight Costs

Textile Insights January 8, 2024

The Indian Commerce Ministry is monitoring developments on the situation at the Red Sea, amid textile and garment exporters holding back their shipments owing to fears about higher freight costs. The cost of freight and insurance has risen due to ships being compelled to avoid the region and take a longer route around the Cape […]

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India’s Textile & Garment Exports Sluggish Despite FTAs

Textile Insights January 5, 2024

India’s exports from labour-intensive sectors such as textiles, garments, gems and jewellery, and leather have been sluggish despite free trade agreements (FTAs). “The rise of efficient suppliers in China, Vietnam, and Bangladesh has contributed to a decline in India’s market share in global trade,” a recent Global Trade Research Initiative (GTRI) report reveals. The

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Pakistan Textile Exports Post Turnaround In December

Textile Insights January 4, 2024

Pakistan’s textile exports in December 2023 posted a turnaround in the declining trend and amounted to US $1.4 billion, an increase of 3 percent over $1.36 billion recorded in the same month of 2022. According to data released by the All Pakistan Textile Mills Association (APTMA), textile exports were also 6 percent higher in December […]

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Textile & Clothing Exports From Bangladesh Rise 3.67% In 2023

Textile Insights January 3, 2024

Textile and apparel exports from Bangladesh amounted to US $47.3 billion in 2023, growing by 3.67 percent or $1.68 billion over its previous year. Of these, exports of home textiles stood at $1.09 billion, while those of knitwear and woven clothing exports reached $46.99 billion. “The rise in garment exports was driven by a 7.47 […]

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Indian Garment Exporters Seek Three Year Rebate Extension

Textile Insights December 30, 2023

Apparel Export Promotion Council (AEPC) has sought a three year extension of RoSCTL, a rebate scheme, stating that it has become a dire necessity, given the current global economic uncertainties. In a statement, AEPC Chairman Naren Goenka said market sentiments have touched an all-time low and the traditional markets of the US and EU are […]

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India & Oman May Sign Proposed FTA In January 2024

Textile Insights December 30, 2023

In all probability, a Free Trade Agreement (FTA) may be signed between India and Oman in January 2024. “Negotiations are on track and both sides have already agreed on most of the text of the chapters of the Comprehensive Economic Partnership Agreement (CEPA),” CNBC quoted government sources as saying. The second round of talks for […]

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Vietnamese Textile & Clothing Exporters Seek Govt Assistance

Textile Insights December 29, 2023

The Vietnamese textile and garment export sector which has been witnessing a declining trend since the beginning of this year is seeking assistance from the government to navigate the challenges. “Textile and garment exports started slowing down in the final months of 2022, and there haven’t been any signs of improvement,” Le Tien Truong, Chairman […]

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Indian Textile & Apparel Export Shipments Freight Spikes 40%

Textile Insights December 28, 2023

The attack on merchant ships by Houthi rebel attacks in the Red Sea has spiked freight rates by 40 percent, with expectations of them going up and impacting Indian textile and garment export costs. Red sea is one of the busiest sea routes that connect Asia and Europe, but the attacks have forced ships to […]

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Between Jan & Nov Cambodian Garment Exports Down 14.8%

Textile Insights December 28, 2023

In the first eleven months of the current year, Cambodian apparel exports dropped 14.8 percent to US $7.2 billion from $8.48 billion in the same period of 2022. According to a Ministry of Commerce official, clothing overseas shipments declined primarily due to reduced consumer spending and economic slowdown in its main markets of the US […]