Every country’s economic progress is heavily influenced by the clothing industry.
Textile industry has the ability to overcome any obstacles that arise in a competitive market. Textile businesses have a number of advantages, including greater domestic competitiveness, higher global market and share, and a boost to the local, state, and federal economies. Most importantly, in our day and age, people are quite natty and trendy. As a result, the demand for the garment’s goods is steadily expanding. Above all, textile and garment exports are the primary source of foreign exchange revenues. As a result, all developing countries’ textile industry has grown.
Here is the list of the top 10 textile export countries based on their export market value in 2021.
China is currently the world’s largest exporter of textiles. After the twentieth century, China’s textile industries flourished. Chemical fabrics, cotton fabrics, wool fabrics, silk fabrics, knitted fabrics, textile machines, best fiber, and garments are the eight primary categories of China’s textile industries. This country makes $118.5 billion from garment manufacture and produces 52.2 percent of worldwide garment products. It manufactures the highest-quality raw materials as well as finished or ready-to-use products. Chinese textile enterprises are becoming a global powerhouse day by day. China will undoubtedly dominate the textile sector for many years.
Germany is the runner-up country in exporting garments products 2021 after China. With an export value of $40 billion, Germany is the world leader in the textile and fashion business. In Germany, industries are primarily comprised of medium and small-sized firms. Germany is noted for its high-quality textile and apparel production, as well as the raw materials utilized in the manufacturing process. Synthetic yarn, machinery, manmade fiber, and knitted clothing material are among Germany’s top exports. The country’s textile production quality has increased in recent decades. There is no question that the country will improve significantly in the future and become the world’s top exporter.
Textile industry is the main source of economic growth in Bangladesh. Bangladesh has developed as a major clothes supplier during the previous decade, and Bangladesh’s textile sector will be the world’s third largest exporter by 2021. Bangladesh is the world’s second-largest exporter of western fast fashion textiles. Bangladesh’s garment sector has grown from $19 billion to $38.73 billion in sales during the last seven years.
Because of their high quality product at a low cost, these industries have a well known reputation in the global competitive market. In Bangladesh, this industry employs roughly 20 million people. It is always the finest option for individuals looking to import high-quality garment products at a reduced cost.
Vietnam is the fourth largest garment manufacturing country in the world. The value of their exports is estimated to be over $38 billion. According to the 2020 study, Vietnam is the world’s fourth largest textile exporter. The downstream sector, fiber production, and upstream sector garment manufacturing make up Vietnam’s textile industries. Growing textile exports to the United States, Japan, the European Union, and South Korea are a major component fueling the expansion of Vietnam’s textile sector. Specialization, modernization, and the manufacture of a very high-quality product are their primary goals in order to compete in this competitive market. Another important factor is the low cost of labor. Vietnam will undoubtedly maintain its top status for many decades in the next decades.
With a total export value of $37.11 billion, India is the world’s fifth largest exporter. And India is the world’s second-largest cotton grower. Cotton accounts for 60% of India’s textile industry. The textile industry in India is the country’s oldest. The Indian textile industry is divided into two segments. The first is an unorganized sector created by weaving on a hand-loom. Another is created using cutting-edge machinery and procedures. India produces high-quality yarn, chain, clothing, and fabric. India’s textile manufacturing is improving day by day. In addition, the country is utilizing new technology to increase its textile production quality.