Indian textile and apparel exports in Feb grew year-on year and month-on-month

1. Indian cotton export rose year-on-year and month-on-month

The latest data showed that Indian cotton export volume in February was 139,500tons, up 46.1% year-on-year and 6% month-on-month respectively. The export volume reached 271,000tons in Jan-Feb, up 6.1% year-on-year. In Feb, about 47,600tons of Indian cotton exported to China, up 162.8% year-on-year (affected by the epidemic last year, import volume from China plummeted), up 35.8% month-on-month, accounting for 34.1% of the total cotton export volume. The export volume to China was 82,700tons in Jan-Feb, up 7.7% year-on-year. So what were the major export destinations of Indian cotton in February?

It can be seen that the largest Indian cotton export market in February was Bangladesh, followed by China and Vietnam, accounting for 87.9%. From arriving time, the main export time of Indian cotton is from December to February every year, and the export volume is also large in March of a few years.

Indian cotton imports in Feb were small, only 13,900tons, down 14.7% year-on-year and 39.3% month-on-month respectively. In Jan-Feb, the total import was 36,900tons, up 11% year-on-year.

2. Indian cotton yarn exports in Feb fell on year-on-year and month-on-month basis

Indian cotton yarn export volume was 81,500tons in Feb, down 10.5% year-on-year and 0.8% month-on-month respectively, and a decrease of 18.3% compared with the same period in 2019. In Jan-Feb, the total export was 163,800tons, down 15% year-on-year; In February, India exported 27,900tons of cotton yarn to China, with a year-on-year growth of 55.8% and a month on month growth of 28.2%. Excluding the impact of the pandemic, Indian cotton yarn export decreased by 35.8% compared with the same period in 2019. In Jan-Feb, India exported 49,700tons of cotton yarn to China, up 5.4% year-on-year but down 31.2% compared with that in same period of 2019.

China remains the top export market, accounting for 34.3%, followed by Bangladesh and Vietnam. According to the monthly export data of Indian cotton yarn in previous years, the export volume of Indian cotton yarn in 2019-2020 was obviously lower than that in 2018, with monthly average of 102,000tons in 2018, 81,500tons in 2019 and 82,000tons in 2020.

3. Indian textile and apparel exports in Feb grew year-on year and month-on-month

Indian textile and apparel exports in Feb amounted to 3.277 billion USD, up 2.9% year-on-year and 1.9% month-on-month. In Jan-Feb, the exports amounted to 6.493 billion USD, down 0.1% year-on-year.

In can be seen that Indian textile and apparel exports have gradually recovered since April last year, and by February this year, the export value has basically recovered to the level before the pandemic. However, the epidemic situation in India has worsened in April this year, and it has been out of control, causing a great impact on India's economy. Therefore, it is expected that Indian textile and apparel export in Mar may still perform well but will be daunting in April-May.