China was the largest market for South Africa’s fibre exports during January-September 2022 with a share of 36.32 per cent. It exported fibre worth $103.848 million out of its total shipment of $285.924 million in the period. Africa is developing its domestic textile industry, but China is a vast market to sell extra fibre, specifically cotton stocks.
Despite being the largest market, African exports to China has witnessed high volatility. South Africa’s exports to China fell by 45.69 per cent year on year to $103.848 million in January-September 2022 from $191.218 million in the same period of last year, according to Fibre2Fashion’s market insight tool TexPro. The exports jumped by 36.27 per cent from the exports in January-September 2020.
The exports had increased by 28.1 per cent to reach $212.977 million in January-September 2018 but decreased by 58.75 per cent to $87.846 million in January-September 2019. They spurted again by 59.21 per cent to reach $139.859 million in January-September 2020, as per TexPro.
During January-September 2022, South Africa exported fibre worth $38.862 million (13.59 per cent) to Italy, $36.072 million (12.62 per cent) to Germany, $16.963 million (5.93 per cent) to Bulgaria and $11.498 million (4.02 per cent) to Mozambique.
Fibre2Fashion News Desk (KUL)