Affected by the epidemic and trade restrictions from various countries and trade organizations, the global yarn trade will be severely impacted in 2020 and will not recover until early 2021. However, due to the new wave of COVID-19 and the Delta variant virus raging in various countries, the global yarn trade declined again in June this year.
At the end of 2020, due to the slowdown of the epidemic and the implementation of relevant measures, the yarn trade has grown; and the sudden increase in global demand for textiles and clothing in the past year has also promoted the vigorous development of the yarn trade.
As the major suppliers and consumer markets of textile yarns in China, Australia, Bangladesh, India, Indonesia, and other Eastern countries are affected by the Delta variant virus, these countries have restarted trade barriers, resulting in yarn trade in June 2021. Get shocked.
Even under the global epidemic, the average monthly global yarn trade in 2020 will still maintain the 2019 level (2.95 billion US dollars). According to Fibre2Fashion's market analysis tool TexPro, global yarn trade increased in the first half of 2021, with an average monthly trade volume of US$3.75 billion, a sharp increase of 27% over the same period last year.
However, compared to the first half of this year, the global yarn trade is expected to drop by 17.5% in the second half of the year to an average of US$3.09 billion per month.
In the first half of 2021, China, India, Vietnam, Italy, and Indonesia are the top five yarn exporters, with export shares of 25.49%, 10.47%, 10.35%, 4.48%, and 4.19% respectively.