Reasons Why These Countries Rank In The Top 5 Global Textile Leaders List
Summary: The textile industry is huge and there are a few countries that are key players in the game. These countries are major exporters of textiles globally and every fashion company must know about them. From high-quality products to low labor costs, there are many reasons why certain countries are renowned globally for their textile export offerings.
The competition is cutthroat in the textile industry, and global players are pulling all the stops to be on top of the supply chain. Exporting garments and apparel is one of the biggest sources of foreign exchange earnings. Therefore, this trade boosts the economies of nations that are exporting the most. Naturally, it’s of great economic importance to be in the top 5 list of countries that are leading the textile export game. The higher the volume of exports the better.
Fashion brands and designers looking to manufacture quality products need to know about these key players in the textile industry because that’s how they can ensure that business will boom. Here are the top 5 ranking countries with the highest textile exports and a bunch of reasons why they are leaders in the biz.
Top 5 Countries Leading In Textile Exports
1. China
China is literally at the top of the textile supply chain. It is the number one exporter of textiles in the world. A huge percentage of apparel and accessories are exported from China to numerous countries across the globe. China’s export value was well over $250 billion in 2020 and it is still going strong. The reasons why China is one of the most preferred countries to import textiles from is because of the lower cost of production, availability of good quality raw materials, modern industrial infrastructures, and high-tech machinery.
China’s textile industry offers a bunch of textile categories that are coveted by fashion brands. These categories are the production of cotton fabric, silk fabric, wool fabric, knitted fabrics, chemical fabrics, printing and more. The total export volume of China’s textile industry makes up over half of the global market.
2. Germany
Germany ranks second with an export value of approximately $38.99 billion, which is far lesser than China's in comparison but still a hefty amount nevertheless. Synthetic yarn, knitted fabrics, and man-made fiber are the textiles exported by the country’s textile industry. Germany has small to medium-sized industries. Their focus is on producing high-quality products rather than having a higher quantity of exports.
3. Bangladesh
Bangladesh ranks third in this list yet it is one of the most prominent competitors in the global textile industry. The benefits of manufacturing in Bangladesh are the low labor costs backed by an enormous workforce. It is no surprise the nation's textile industry specializes in bulk orders. The export value of Bangladesh was approximately $38.73 billion which is just a smidge lesser than Germany. Although ranking third in textile exports, Bangladesh is the second largest textile exporter to fashion brands in western nations.
4. Vietnam
Vietnam has a skilled and fairly affordable workforce. The country is also known to produce high-quality fabrics and that's why it is the fourth-largest textile exporter in the world. Vietnam’s textile industry export value was approximately $37.93 billion. Vietnam supplies to countries like Japan, South Korea, the USA, and the European Union.
5. India
Being one of the oldest textile industries that can be traced back to colonial times, India now ranks fifth in the global textile export trade. The export value of the Indian textile industry is around $37.11 billion which puts it close to Vietnam’s valuation. Since India is the second largest producer of cotton in the world, the Indian textile industry has the advantage of availing domestic fabric supply.
India also produces exclusive silk fibers that are highly coveted across the globe. The handloom and handicraft sector of the Indian textile industry is prized yet its functioning is unorganized. The other sector is the modern textile industry powered by advanced machinery. In recent years, the nation's textile industry has stepped up its game in manufacturing good quality products and therefore is considered a strong global competitor.
ConclusionThese are the leading countries whose textile industries are booming and how. This list of top 5 country leaders in textile exports is essential to fashion companies who are looking to import high-quality and reasonably priced textiles to grow their business.
Key Takeaways
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