Unlock stock picks and a broker-level newsfeed that powers Wall Street.
12 Countries that Export the Most Fabrics/Garments

In this piece, we will take a look at the twelve countries that export the most fabrics/garments. For more countries, take a look at 5 Countries that Export the Most Fabrics/Garments

The textile industry is one of the most diverse sectors in the world, which is evident when we look at the Harmonized Tariff Schedule codes for its products. The HTSUS is a classification for goods that are imported into the U.S., and it is used to determine the different duties and taxes that products must be charged once they enter the country. For the textile sector, there are 13 different chapters of the HTS code dedicated to different products such as carpets, cotton, yarn, silk, knitted fabrics, apparel, and related accessories. Each chapter has more than five different products, highlighting the dozens of products that are manufactured throughout the world.

The primary textile product categories are fabric, yarn, furnishing, garments, and apparel. According to a research report from The Business Research Company, the global textile market was worth $573 billion by the start of 2022 and stood at $610 billion by the end of the year, marking a compounded annual growth rate (CAGR) of 6.6%. From 2023 to 2027, the firm expects the industry to grow to $755 billion through a 5,5% CAGR. It notes that the Russian invasion of Ukraine, which will soon mark a full year, impacted the industry's recovery from the devastation of the coronavirus pandemic, and slowed down its recovery in 2022. Key trends in the market include the growth in electronic commerce platforms, such as Alibaba, which allow companies to sell their products in bulk over the Internet - allowing them to eliminate the barrier between customers that had previously been overcome through market research.

This industry is also one which is using technology in some of the most interesting ways to drive innovation. A growing trend these days is the advent of smart textiles. These are products that are capable of detecting environmental conditions and changing their 'form' accordingly. For instance, researchers from the Massachusetts Institute of Technology (MIT) developed a special kind of textile called 3DKnITS. This fabric is able to detect changes in pressure and posture and then adapt itself to these. At the heart of the development is machine learning, which enabled the researchers to predict motions and positions by a yoga practitioner with a startling 99% accuracy. 3DKnITS is manufactured by a digital knitting machine that weaves together standard and functional yarn and places a piezoresistive knit capable of detecting pressure changes around conductive yarn. With this textile, MIT researchers developed a smart shoe that they believe can help diabetics and people with weak gait after an injury.