India exported around 3.53 billion pieces of apparel in the global market during January to November 2022 period, as per official government statistics.
Analysing the data, Team Apparel Resources found that, in quantity terms, India noted 4.75 per cent yearly growth in the 11-month period of 2022.
The country is expected to ship another ~300-320 million apparel pieces during December ’22 to conclude 2022 with exports of ~3.85 billion apparel items.
In value terms, India apparel exports clocked US $ 15.29 billion in revenues in Jan.-Nov. ’22.
Although quantity-wise, apparel shipments have experienced growth in 2022, the six-year comparison shows the exports couldn’t surpass the peak level!
In 2017, India exported 3.93 billion pieces of apparel, while the exports amounted to 3.79 billion pieces in 2018.
Another worry for the Indian exporters is declining UVR (unit value realisation) that has shrunk to US $ 4.33 per piece in Jan.-Nov. ’22 period as against US $ 4.43 per piece in the same period of 2017.