India’s apparel export fraternity, buoyed by strong orders and the revival of global retail industry, has upped its export revenues by 24 per cent in 2021 over 2020.
As per the data analysed by team Apparel Resources, India clocked $15.21 billion during the calendar year 2021 as compared to $12.27 billion in 2020.
It’s worth noting here that, due to the pandemic in 2020 that wreaked havoc in the global apparel industry, India’s apparel export shrunk significantly by 24.50 per cent over 2019.
However, as compared with 2019, the export values in 2021 have remained sluggish by 6.43 per cent.
The top apparel export destination for India during 2021 was USA where exporters shipped $4.78 billion worth of garments, noting 44.93 per cent Y-o-Y growth.
Markedly, apparel exports to USA in 2021 have surpassed the figures clocked during the pre-pandemic year 2019 when USA imported garments worth $4.34 billion.
Not just 2019, India’s export to USA in 2021 has remained the best export performance of the last decade, signalling a strong rebound in its top export destination after a devastating pandemic.
UAE too noted the growth of 26.65 per cent and 3.26 per cent, respectively, over 2020 and 2019 and imported $1.92 billion worth of apparel from India during 2021.
India’s third top export destination UK imported $1.31 billion worth of apparel in 2021, increasing by 16.68 per cent on Y-o-Y basis, while the shipment values dropped by 17.44 per cent as compared to 2019.
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