Textile market in Asia
The textile industry is one of the oldest in the world . However, today it remains fully globalized . Despite the phasing out of quotas, some low-income countries have managed to develop their textile industry such as China. Asia account for 80 % of world exports of textiles and clothing ( a total of $ 500 billion ), while Europe represents only 15 %. This figure surely impress you but it’s the truth !
Why so successful?
With the rise in the number of supermarkets, specialised shops and new technologies, industrial relocation to countries with low cost labor have increased sharply in recent years. This revolution has indeed had a strong impact on Asian countries. It was in the 60s, with the emergence of new production centers in Asia , that is the most transformed the textile industry.
Before in Asia, the main exporters before :
-Hong Kong: 3rd with 7.4% of world exports
-China: 4th with 6.5%
Taiwan: 6th with 5.7%
Republic of Korea: 7th with 5.6%.
Burma also has a place in this industry
The case of China
In China, the textile and clothing industry has a major advantage which is its complete industrial chain . It allows China to be the world ‘s largest exporter of clothing. But this trend is beginning to change more and more for the low cost of labor. Indeed, Southeast Asia has undergone major changes in recent years . Fil control explains that “The manufacture of Chinese clothing tends to relocate to South East Asia . Meet its changes, analysts highlight the urgency for the clothing and textile Chinese driving restructuring and industrial upgrading industry, increase the number of value-added products and to create their own clothing” brands .
Cambodia and Bangladesh are also important players regarding the textile industry in Asia.