Global exports of woven accessories expected to fall.

The global export of woven accessories dropped 10.88 per cent to $9,123.52 million in 2019 compared to export of $10,237.63 million in 2017. Total exports declined 11.32 per cent in 2019 over the previous year, according to data from TexPro. Further, the exports are expected to slip to $8,124.13 million in 2022 with a rate of 10.95 per cent from 2019.

The global import value of woven accessories was $6,896.83 million in 2017, which marginally declined 1.17 per cent to $6,816.16 million in 2019. Total imports decreased 6.36 per cent in 2019 over the previous year and is expected to slash to $6,339.28 million in 2022 with a rate of 7.00 per cent from 2019.

China ($3,300.14 million), Italy ($1,532.36 million), France ($721.72 million), South Korea ($562.85 million) and India ($522.10 million) were the key exporters of woven accessories across the globe in 2019, together comprising 72.77 per cent of total export. These were followed by UK ($269.89 million), Germany ($267.32 million) and Spain ($258.89 million).

From 2015 to 2019, the most notable rate of growth in terms of export value, amongst the main exporting countries, was attained by Italy (43.28 per cent) and France (36.75 per cent).

US ($1,145.33 million), France ($583.08 million), Japan ($538.03 million), Germany ($419.12 million) and UK ($382.59 million) were the key importers of woven accessories in the globe in 2019, together comprising 45.01 per cent of total import. These were followed by Italy ($374.72 million), Singapore ($277.85 million) and Spain ($240.75 million).

From 2015 to 2019, the most notable rate of growth in terms of import value, amongst the main importing countries, was attained by France (19.63 per cent) and UK (11.65 per cent).