Brazilian textile industry exports fall

The Brazilian textile and clothing industry reported $813 million in exports from January to October this year, according to data from the Brazilian Textile and Clothing Industry Association (Abit). This amount is 16.68% lower than the year-to-date value for the same period in 2022 ($976 million).

Like exports, total imports decreased by 2.06% in the same period. In this case, the year-to-date value dropped from $4.97 billion to $4.87 billion in the first ten months of 2023. Consequently, the trade deficit in the textile sector increased by 1.51%, rising from $3.99 billion to $4.06 billion.

The major driving force to the negative balance of the sector’s foreign trade was apparel imports, which ended the period with a 17.67% increase. These imports rose from $1.35 billion in the first ten months of last year to $1.58 billion in the same period this year. However, the association notes that these values do not include the growing clothing imports via international e-commerce platforms.

See below textile industry exports (hs 53-63) shipped in containers from Jan 2019 to Sep 2023. The data is from DataLiner.

Textile Exports | Jan 2019 – Sep 2023 | TEU

Source: DataLiner (click here to request a demo)

According to Abit, China stood out among trading partners, responsible for 50.58% of the value of imported clothes between January and October, totaling $804.3 million. This amount represents a 14.60% increase compared to the $701.83 million recorded in the same period in 2022.

Source: Diário do Comércio

Click here to read the original text: https://diariodocomercio.com.br/economia/exportacoes-industria-textil-brasileira/#gref

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