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Global trade of leather apparel and accessories on rise

Submitted by webmaster on 27 October 2020
Global trade of leather apparel and accessories on rise

Source: www.fibre2fashion.com

The global export of leather apparel and accessories grew 13.62 per cent to $87,573.83 million in 2019 compared to $77,075.43 million in 2017. Total exports increased 6.06 per cent in 2019 over the previous year, according to data from TexPro. Further, the export is expected to surge to $90,832.45 million in 2022 with a rate of 3.72 per cent from 2019.
 
The global import value of leather apparel and accessories was $65,530.15 million in 2017, which jumped 15.14 per cent to $75,448.57 million in 2019, according to Fibre2Fashion's market analysis tool TexPro. Total imports were up 4.62 per cent in 2019 over the previous year and is expected to grow to $77,960.70 million in 2022 with a rate of 3.33 per cent from 2019.
 
China ($29,564.41 million), Italy ($12,261.92 million), France ($9,547.48 million) and Hong Kong ($4,406.00 million) were the key exporters of leather apparel and accessories across the globe in 2019, together comprising 63.69 per cent of total export. These were followed by Vietnam ($4,189.80 million), Germany ($2,666.01 million) and Netherlands ($2,586.99 million).
 
US ($9,719.31 million), Japan ($6,356.96 million), France ($5,440.98 million) and Hong Kong ($4,914.71 million) were the key importers of leather apparel and accessories in the globe in 2019, together comprising 35.03 per cent of total import. These were followed by Germany ($4,626.37 million), Italy ($4,080.28 million) and China ($3,986.00 million).
 
From 2016 to 2019, the most notable rate of growth in terms of import value, amongst the main importing countries, was attained by Japan (19.22 per cent), US (17.57 per cent) and Hong Kong (16.42 per cent).

 

Clothing labels need to be clearer when it comes to showing how a product is sustainable, as transparency continues to be a key driver of purchasing decisions, according to data analytics company GlobalData, whose figures suggest 37.3 per cent of UK consumers agree that retailers that place greater emphasis on sustainability are more appealing, and that retailers ought to capitalise on changing attitudes as the shift towards ethical retail gains more momentum. Hannah Abdulla, apparel correspondent at GlobalData, said: “Consumers are actively looking at clothing labels to see how the product has been made and whether it fits in line with their sustainability expectations. Data shows that the majority of consumers would pick a product that has been sustainably produced over one that hasn’t.” “Consumers will scrutinise the environmental actions of brands and retailers during the pandemic, and will use this as an opportunity to separate those companies that are truly committed to sustainability issues, from those that are merely greenwashing. Proactive brands and retailers will take this in their stride; being upfront with consumers about their sustainable actions and making that data clear and accessible,” she added.

 

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