Weak growth among major emerging markets will weigh on global growth in 2016, but economic activity should still pick up modestly to a 2.9 per cent pace, from 2.4 per cent growth in 2015, as advanced economies gain speed, according to the World Bank's January 2016 Global Economic Prospects. Simultaneous weakness in most major emerging markets is a concern for achieving the goals of poverty reduction and shared prosperity because those countries have been powerful contributors to global growth

China's retail sales of consumer goods rose 11.2% year-on-year to CNY 2.79 trillion (US$ 434 billion) in November, according to the National Bureau of Statistics (NBS). The retail sales of garment, foot & head gear and knitted goods rose 9.9% year-on-year in November to CNY 138.2 billion, and it rose 10.1% year-on-year to over CNY 1.19 trillion in January-November. In the first eleven months, online sales surged by 34.5% year-on-year to CNY 3.45 trillion, accounting for 12.6% in gros

China’s exports of textiles and garment dropped 5.79% year-on-year in January-November to near US$ 256.95 billion, according to the General Administration of Customs (GAC). China’s exports of textile yarn, fabric and made-up products amounted to US$ about 8.67 billion in November and totaled US$ 99.72 billion in January-November, down 2.6% from a year earlier. The exports of garment and accessories amounted to US$ 13.31 billion in November and US$ 157.23 billion in January-November, down 7.7

Russia has imposed economic sanctions on some countries, and exporters in Pakistan should utilise this opportunity to supply more textile products to Russian markets, said Yury M Kozlov, trade representative of the Russian Federation while addressing businessmen at Faisalabad Chamber of Commerce and Industry (FCCI) recently, as per Pakistani media reports. Kozlov said that after the signing of the $2 billion gas pipeline project from Karachi to Lahore, over 50 Russian companies are looking fo

The arrival of cotton at ginneries in Pakistan by January 1, 2016, is down 33.5 per cent year-on-year, according to the fortnightly report on cotton arrivals, prepared by the Pakistan Cotton Ginners' Association (PCGA), in joint cooperation with All Pakistan textile Mills Association (APTMA) and the Karachi Cotton Association (KCA). As on January 1, 2016, ginneries in Pakistan received 9.279 million bales of cotton, compared to arrival of 13.958 million bales during the corresponding period

Laleli, located in Istanbul famous for clothing exports has lots of stores which are mostly textile stores where very high quality and cheap price textile are found. Due to decline in the rouble’s value in the past year, the traders had already lost 60 percent of the revenue. Not only that the slump made Turkish goods more expensive for Russian buyer, said the head of Laleli Industry and Business Association, Giyasettin Eyyupkoca. Moreover, the Turkey-Russia tensions since November accounted

Textile mills and traders in north and south India buying cotton from Gujarat forced to import cotton over the increasing adulteration, the usual rate of adulteration of 10-15 percent has climbed to 40 per cent this year. Increase in cotton adulteration is also seen in Maharashtra. According to Arvind Pan, vice-president of the Saurashtra Ginners’ Association (SGA), ginners are losing Rs 500-700 per bale of raw cotton. Many ginners are mixing lower quality cotton with higher quality cotton to

Jute goods exports have logged almost flat growth from 2010-11 (0.19 million tonne) to 2013-14 (0.21 million tonne). However, jute goods exports declined sharply in 2014-15 to 0.15 million tonne, a fall of 27 %. Manish Poddar, chairman, Indian Jute Mills Association (IJMA) said that the rising prices of jute goods has both a short-term and long-term impact on the export market. While exports may not be impacted in a big way in value terms, the decline would be felt in volume terms. They have

According to a CEPEA report, Brazilian cotton prices were predominantly increasing and recovering in 2015 from a significant decrease in 2014 and in the first quarter of 2015. “What was driving this increase were the decrease in the Brazilian 2014/15 crop and higher exports parity,” it explained. International sales were favoured by the significant increase of 50.7 per cent in the export parity in 2015, underpinned by the strong dollar valuation against the Real. “Besides, many exports

The Ministry of Textiles and Ministry of Commerce have approved the funding under Market Access Initiative for the proposed buyer-seller meet (BSM) to be organized by the Apparel Export Promotion Council (AEPC) in Uruguay and Chile with 25 exhibitors at each venue, a council release said. The BSM is being organized after taking into account the huge potential for export of readymade garments from India, the council noted. AEPC has tied-up with the Santiago Chamber of Commerce in Chile fo