India’s apparel export fraternity, buoyed by strong orders and 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 US $ 15.21 billion during calendar year 2021 as compared to US $ 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 US $ 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 pre-pandemic year 2019 when USA imported garments worth US $ 4.34 billion.
Not just 2019, India’s export to USA in 2021 has remained the best export performance of last one decade, signaling a strong rebound in its top export destination after a devastating pandemic.
UAE too noted growth of 26.65 per cent and 3.26 per cent, respectively, over 2020 and 2019 and imported US $ 1.92 billion worth of apparels from India during 2021.
India’s third top export destination UK imported US $ 1.31 billion worth of apparels 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.
