GENEVA — The Asian economies of Cambodia, Vietnam, India and Pakistan posted double-digit gains in apparel exports in 2014, with growth outpacing the 5 percent increase in the value of global apparel exports to $483 billion, a World Trade Organization report detailed.
The largest increase was registered by Cambodia, with the value of its apparel exports up 17 percent to $6 billion, followed by Vietnam and India, with increases of 14 percent each to $20 billion and $18 billion, respectively, and Pakistan with a 10 percent increase to $5 billion.
Solid results were also achieved by Turkey, with exports up 8 percent to $17 billion, and by Sri Lanka, with a 9 percent hike to $5 billion.
The WTO’s International Trade Statistics 2015 report also shows the world’s largest apparel exporter, China, delivered a more modest gain of 5 percent to $187 billion, holding a 38.6 percent share of total exports. Similarly, the world’s second-biggest apparel exporter, Bangladesh, notched a 5 percent increase to hit $25 billion, and exports for the European Union rose 5 percent to $32 billion.
U.S. apparel exports increased 4 percent to $6 billion last year, the WTO said.
On the import front, the WTO data show EU imports rose 9 percent to $104 billion, U.S. imports increased 2 percent to $93 billion, Japan’s fell 7 percent to $31 billion, Russia’s contracted 6 percent to $9 billion, and South Korea’s imports surged 12 percent to $8 billion. China’s imports surged 15 percent to reach $6 billion.
In textiles, global exports last year increased 3 percent to $314 billion, with China retaining the number-one spot with exports up 5 percent to $112 billion, or a 35.6 percent share of total world exports.
The second-biggest exporter was the EU, with the value of shipments up 3 percent to $23 billion, followed by India, up 5 percent to $18 billion; the U.S., up 3 percent to $14 billion, and Turkey, up 3 percent to $13 billion.
However, it was Vietnam that registered the biggest increase in textile shipments, up 14 percent to $5 billion. Traditional exporter Pakistan registered a 3 percent decline to $9 billion.
On the import side, the EU was the biggest destination, with the value of shipments up 9 percent to $32 billion, followed by the U.S., up 5 percent to $28 billion, while China witnessed a 6 percent to decline to $20 billion. Vietnam posted a 13 percent increase to $12 billion.