Denim fabric exports from India have surpassed pre-pandemic levels
30 December 2021, Mumbai:
Denim fabric exports clocked US $ 190.78 million during the Jan.-Oct. '21 period, an increase of 88.45 percent Y-o-Y, according to data from the Ministry of Commerce and Industry, which was further analysed by Apparel Resources. Bangladesh was the top market for Indian denim, importing $ 58.30 million in denim fabrics, up 40.21 percent from January to October of this year.
Colombia, Venezuela, and Egypt are the next three destinations, with Indian denim exporters shipping fabrics worth US $ 32.71 million, US $ 13.32 million, and US $ 12.92 million, respectively, indicating massive growth of 176.24 percent, 506 percent, and 25.20 percent.
Denim fabric exports in the pre-pandemic period (Jan.-Oct. '2019) were valued at just US $ 168.70 million, but they have significantly increased in the post-pandemic period (Jan.-Oct. '21).
Though the values tapped this year are higher than the export revenues earned in 2019, denim fabric shipments in key markets have not resumed; instead, India has strengthened its position in non-traditional markets (such as South Africa and Guatemala), where it had previously shipped smaller (negligible) volumes of denim fabrics.
Bangladesh's import values have not recovered and have fallen by 10.30 percent from January to October of this year. Colombia and Venezuela have seen increases in their imports from India, while Sri Lanka and Egypt have seen decreases in their imports from India in comparison to 2019.
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