India’s textile and garment exports fell 11.41% to US$5.56 billion in April-May

India’s textile and garment exports fell by 11.41 percent to US$5.568 billion in April and May 2023, compared to US$6.722 billion in the same period of the previous fiscal year. Textile and apparel shipments fell 12.16 percent in May 2023 to a total of $2.816 billion.

According to the latest trade data released by the government, the share of textiles and clothing in total exports fell to 7.99 percent in the past two months, compared with 8.54 percent in the same period last year. India’s garment exports also fell by 18.16 percent to US$2.446 billion in April and May 2023, compared to US$2.989 billion in the same period last year.

Textile exports fell to US$3.121 billion from US$3.733 billion in the last two months. In textiles, exports of cotton yarns, fabrics, made-up fabrics and handwoven products fell 17.90 percent from US$2.202 billion to US$1.808 billion. Shipments of man-made yarns, fabrics and ready-made garments declined 10.27 percent to $788.10 million, from $878.34 million. Carpet exports fell 14.21 percent to US$216.42 million during the period and handicrafts (excluding handmade carpets) fell 21.23 percent to US$245.59 million.

In May 2023, textiles and apparel shipments fell 12.16 percent to $2.816 billion from $3.206 billion. Exports of cotton yarns, fabrics, ready-to-wear products, hand-woven products, etc. fell 11.75 percent to US$920.28 million (from US$1,042.81 million), those of artificial yarns, fabrics and ready-made products to 395.16 million US dollars (from US$ 421.75 million). ), carpets at US$111.25 million (from US$127.27 million) and crafts excluding handmade carpets at US$123.52 million (from US$156.49 million).

India’s imports of raw and waste cotton fell by 30.64 percent to US$103.37 million in April-May 2023, compared to US$149.03 million in the same period last year. In May 2023, it fell 39.81 percent from $96.47 million to $58.07 million. Exports of made-up textile yarns fell 14.37 percent from US$408.5 million to US$349.78 million in the last two months. Inbound shipment decreased 11.93 percent to $188.39 million in May 2023 compared to $213.92 million in May 2022.

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