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  • In November 2022, the calendar adjusted retail sales index decreased by 2.8 per cent year-on-year (YoY) in the euro area and by 2.4 per cent YoY in the European Union (EU), as per Eurostat’s estimates. The seasonally adjusted volume of retail trade increased by 0.8 per cent month-on-month (MoM) in the euro area and by 0.9 per cent MoM in the EU.In October 2022, retail trade volume decreased by 1.5 per cent in the euro area and by 1.4 per cent in the EU, according to a report by Eurostat, the sta
  • It was a roller-coaster ride for the global denim industry in the last two- and-a-half years as lockdown practices during the COVID-19 pandemic impelled people to stay at their home and work from homes practices were attributable to decrease the denim jeans market growth in 2020. Furthermore, closures of retail stores and production facilities and disordered export and import activities were some of the reasons for reduction in sales of the denim jeans in 2020.Figure 1: Coming Christmas will see
  • Cotton represents Brazil’s seventh-largest export product in terms of value and in the marketing year 2021-22, 1,680 tonnes were exported, generating more than $3.2 billion, according to the country’s cotton producers’ association ABRAPA. Cotton exports were worth $3.4 million between January and November 2022, up by 15 per cent year-on-year.Brazil provides a fifth of the world’s cotton supply, making it the second largest cotton exporter in the world.ABRAPA said Asia imports 99 per cent of the
  • North India’s cotton yarn market noticed better demand after the recent rise in cotton prices. Buyers were anticipating that yarn prices will rise due to costlier cotton. This encouraged buyers for fresh deal as they wanted to book yarn early. Cotton yarn gained ₹5-10 per kg in Ludhiana due to better buying, but the prices were stable in Delhi and Panipat.Ludhiana market witnessed higher prices of cotton yarn. Demand was better from both exports and domestic consumption. A trader from Ludhiana m
  • South Korea’s apparel imports from Vietnam in 2022 are likely to cross the pre-COVID level. The country has imported apparel worth $3.492 billion in first eleven months of last year, while its inbound shipment in pre-COVID year of 2019 was $3.572 billion. The country had imported apparel worth $3.502 billion in 2018 and $2.827 billion in 2017.In 2020, South Korea’s apparel imports from Vietnam had decline by around 15 per cent to $3.065 billion as normal life and economic activities were badly h
  • Buyers in the south Indian cotton yarn market have become price sensitive. Mumbai market noticed a decline in cotton yarn prices today after the demand weakened due to higher prices. Buyers were discouraged as mills increased the prices of yarn. Tiruppur noted a steady trend in cotton yarn prices. Demand was slightly better even as buyers were cautious.Mumbai witnessed a downward trend as cotton yarn prices eased by ₹7-12 per kg. “Spinning mills had increased the prices of yarn which discouraged
  • Hourly minimum wages in 23 US states rose beginning January 1 as part of previously scheduled efforts to reach $15 an hour or to account for cost-of-living changes. More than $5 billion in pay hikes has been witnessed for an estimated 8.4 million workers, the Economic Policy Institute (EPI) estimates. Additionally, nearly 30 cities and counties will raise their minimum wage.Working conditions and low pay contributed to a rise in labour movement activity and actions by many large corporations to
  • Ecuador and China will sign a free trade agreement (FTA) after almost a year of negotiations, Ecuadorian President Guillermo Lasso recently announced on micro blogging platform Twitter. "Our exports will have preferential access to the largest market in the world, our industries will be able to acquire machinery and inputs at lower costs," the president wrote.The FTA, negotiations for which began in February 2022, is expected to boost growth in the South American nation.China's ann
  • Commercial authorities in China cancelled registration requirements for businesses engaged in foreign trade activities from December 30 last year following a revision of the country's Foreign Trade Law, according to the ministry of commerce. However, whether this is applicable to all trades or not has not been disclosed by the authorities.Market entities will no longer be required to provide foreign-trade operator registration material while applying for import and export licenses, registrat
  • China’s exports of textiles, apparel and clothing accessories increased to $297.629 billion in the first eleven months of the current year, registering a growth of 4.57 per cent year-on-year. The latest monthly data released by the General Administration of Customs of China shows that the country’s garment exports grew by 4.3 per cent in the same period.Garments and clothing accessories exports reached $160.703 billion in the first eleven months, which was 4.3 per cent higher than the same perio
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