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Asia and South America drive growth in global fabric market

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Fabric Production

Image Courtesy: oeko-tex.com

International Textile Manufacturers Federation’s (ITMF) State of Trade Report shows that global fabric production has increased by more than 3 per cent in the third quarter of 2016, driven by surge in Asia and South America markets. However, while Asian and South American output grew by over 4 per cent each, European fabric production fell by nearly 15 per cent quarter-on-quarter.

Year-on-year, global fabric output improved moderately by 0.6 per cent in the third quarter of 2016 with Asian production increasing by 0.6 per cent and South America’s output improving by 4.7 per cent. Europe’s fabric output plunged nearly 7 per cent year-on-year.

Also ReadPakistan Records 1.65% Decline In Textile Exports

Global yarn production also increased by 3.4 per cent during the third quarter compared to the second quarter, again Asia and South America emerged as growth drivers here, up 2.6 per cent. Europe and North America, however, experienced drops of 13.3 per cent and 1.4 per cent, respectively. The segment also saw a 3.7 per cent increase year on year, led by Asia which was up 3.5 per cent and South America which surprisingly noted 21 per cent drop. Europe was also down by 4 per cent and North America fell by 7.8 per cent in term of yarn production.

In the third quarter, yarn orders fell by 5 per cent in Europe, compared to the second quarter. South American orders tumbled 11 per cent for the quarter but rose 100 per cent year on year.

European fabric orders dropped by nearly 10 per cent quarter in the quarter and 11.5 per cent compared to the previous year while South American orders declined by 3 per cent from the previous quarter but increased by 10 per cent year on year.

 

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