In this article, we will be covering the top 20 textile-importing countries in 2024. If you want to skip our detailed analysis of the global textile market, you can go directly to Top 5 Textile Importing Countries in 2024.
A Look at the Global Textile Market
The global textile sector is a diverse and crucial industry that encompasses the production, processing, and distribution of fibers, yarns, fabrics, and finished textile products. It plays a vital role in clothing, furnishing, and industrial applications, impacting a wide range of industries and shaping consumer trends worldwide. According to a report by Grand View Research, the global textile market was estimated to have reached a value of $1.83 trillion in 2023. Looking forward, the market is expected to grow at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2030 to reach a value of $3.04 trillion by the end of the forecast period.
The growing clothing and apparel demand from the fashion industry is a key trend creating a positive outlook for the market. Online shopping platforms are making apparel and textiles more accessible, leading to increased global demand. The ever-changing fashion trends and the emergence of online fast fashion companies are further augmenting market growth. Moreover, consumers are showing a renewed interest in natural fibers like cotton, hemp, and linen, valuing their breathability, comfort, and durability. Consumers are also becoming increasingly conscious of the environmental impact, leading to an increase in demand for organic materials, recycled fibers, and eco-friendly manufacturing practices.
Key Players in the Clothing and Textile Sector
The global textile industry is a complex landscape with a variety of companies and market players involved. Some of the most prominent names include Burberry Group plc (LON:BRBY), Industria de Diseño Textil, S.A. (BME:ITX), and Ralph Lauren Corporation (NYSE:RL).
Ralph Lauren Corporation (NYSE:RL) is an American fashion company that produces products ranging from the mid-range to the luxury segments. It specializes in the design, marketing, and distribution of apparel, footwear, accessories, and home textiles. Ralph Lauren Corporation (NYSE:RL) ranks among the most valuable clothing companies in the world. On February 8, Ralph Lauren Corporation (NYSE:RL) reported strong earnings for the fiscal third quarter of 2024. The company reported earnings per share (EPS) of $4.17, surpassing EPS estimates by $0.62. The company’s revenue for the quarter grew by 5.55% year-over-year and amounted to $1.93 billion, ahead of market consensus by $63.93 million. Here are some comments from Ralph Lauren Corporation’s (NYSE:RL) Q3 2024 earnings call:
“Performance in core was led by our cable knit sweaters in cotton woolen cashmere, quilted and down jackets and sports coats in the range of tweed, tartan plaid, stretch corduroy and party ready velvets. As we continue to build on the long-term foundation of our core, we also delivered strong growth in our high potential categories, including women’s, outerwear and home. Together, these high potential categories increased low double digits to last year. This was led again by women’s, our most significant long-term growth opportunity. Driven by an elevated assortment with AUR up mid-teens.
Performance was supported by our cashmere, flag and polo bear sweaters, sophisticated wool and cashmere coats, blazers and heritage tweed and modern knit tools and cocktail and evening dresses. Other special releases this quarter included our Polo Country and Element Skateboards Capsule, a limited-edition collection of unisex Polo Country styles and Element Skateboards celebrating the great outdoors. We sold over 2,000 skateboards, highlighting the lifestyle reach of our brand, and appeal to younger consumers. Our limited edition Polo ID handbag collaboration with Mr. Bags in China, which sold out within one minute on WeChat. Our innovative love of the land collaboration with Navajo Designer, Naomi Glasses; Ralph Lauren’s first artist in residents.”
Fashion trends are constantly evolving, driven by factors like cultural shifts, seasonal changes, and celebrity influence. To stay relevant and meet customer demand, textile and clothing companies regularly introduce new designs, fabrics, and styles that align with the latest trends. Burberry Group plc (LON:BRBY) is a British luxury fashion company that designs and distributes ready-to-wear apparel, including trench coats, leather goods, footwear, and fashion accessories. It is one of the most valuable luxury companies in the world. On March 27, Burberry Group plc (LON:BRBY) announced a new collection of scarves and trench coats in collaboration with Highgrove. The new collection marks the third partnership between Highgrove and Burberry Group plc (LON:BRBY). Crafted in Italy, the four scarves feature organic silk and are meticulously finished with hand-rolled edges, ensuring enduring quality. The Castleford trench coat is a new design. It is crafted from gabardine at the Burberry Group plc’s (LON:BRBY) mill in Keighley and is put together at the company’s factory in Castleford, Yorkshire. The Castleford coat’s exterior is made entirely out of organic cotton and is available in two colors, hunter and ivy.
Companies are incorporating organic fibers, recycled materials, and sustainable production methods to cater to the growing demand for sustainable and eco-friendly clothing options. Industria de Diseño Textil, S.A. (BME:ITX), also known as Inditex, is a Spanish multinational textile and clothing company that owns some of the most popular clothing and fashion brands including Pull&Bear, Bershka, and Zara. Industria de Diseño Textil, S.A. (BME:ITX) is moving towards a sustainable model while also focusing on reducing the environmental footprint of its products. The company is leading the way in sustainability by introducing innovative recycled fibers like “Infinna” to minimize waste. The company is also investing in startups like CIRC, which offers technology to recycle textile products made from polyester and cotton blends on a large scale, addressing a key industry challenge. By 2030, Industria de Diseño Textil, S.A. (BME:ITX) aims to only use materials with a lower environmental impact in 100% of its textile products. Furthermore, the company is committed to achieving zero net emissions by 2040, by reducing its carbon footprint by at least 90%, compared to 2018 levels.
Now that we have discussed what’s going on in the global textile industry, let’s take a look at the top 20 textile-importing countries in 2024.
A store cubicle filled with textiles, clothing, bedding, and bath items.
Methodology
In this article, we have listed the top 20 textile-importing countries in 2024. To find textile imports by country data, we consulted the Observatory of Economic Complexity (OEC). This database provided us with details regarding the total import value per country and their share of global textile imports in 2022. We used the latest data available and narrowed down our selection to rank the top 20 textile-importing countries in 2024, which are listed below in ascending order.
Top 20 Textile Importing Countries in 2024
20. India
Value Of Textile Imports (2022): $12.1 Billion
Share of Global Textile Imports (2022): 1.28%
India ranks among the top 20 textile-importing countries in 2024. It is one of the largest and most populated countries. Despite the fact that it ranks among the largest textile-exporting countries, India’s textile imports amounted to $12.1 billion in 2022.
19. Switzerland
Value Of Textile Imports (2022): $12.6 Billion
Share of Global Textile Imports (2022): 1.33%
Switzerland is a mountainous Central European country that relies on imports for clothing, fabrics, and textile products. In 2022, the total value of textile imports by Switzerland reached $12.6 billion.
18. Belgium
Value Of Textile Imports (2022): $13 Billion
Share of Global Textile Imports (2022): 1.38%
Belgium is a country in Western Europe that ranks among the top importers of textiles. According to reported data, Belgium’s textile imports amounted to $13 billion in 2022.
17. Australia
Value Of Textile Imports (2022): $13.3 Billion
Share of Global Textile Imports (2022): 1.41%
Australia is one of the largest countries by area. While Australia does produce textiles and garments locally, the Australian textile industry has been declining in recent years. In 2022, Australia’s textile imports amounted to $13.3 billion.
16. Turkey
Value Of Textile Imports (2022): $14.8 Billion
Share of Global Textile Imports (2022): 1.57%
Turkey, a country of diverse cultures, is located in West Asia and Southeast Europe. Turkey is home to a strong textile and clothing industry. However, the total value of textile imports by Turkey reached $14.8 billion in 2022.
15. Mexico
Value Of Textile Imports (2022): $15.1 Billion
Share of Global Textile Imports (2022): 1.6%
Mexico, in the Southern region of North America, ranks among the top 15 textile-importing countries. Mexico imports textiles and apparel to meet domestic demand. In 2022, Mexico’s textile imports amounted to $15.1 billion.
14. Bangladesh
Value Of Textile Imports (2022): $17.9 Billion
Share of Global Textile Imports (2022): 1.9%
Bangladesh is a South Asian country that ranks among the top textile-importing countries. While Bangladesh is a major producer of textiles, the total value of textile imports by the country reached a value of $17.9 billion in 2022.
13. Canada
Value Of Textile Imports (2022): $18.7 Billion
Share of Global Textile Imports (2022): 1.99%
Canada is one of the largest countries in the world by area. Canada imports clothing and textiles from various countries around the world. In 2022, Canada’s textile imports amounted to $18.7 billion.
12. South Korea
Value Of Textile Imports (2022): $20.3 Billion
Share of Global Textile Imports (2022): 2.16%
South Korea is a country in East Asia on the Southern portion of the Korean peninsula. It is one of the top textiles and apparel-importing countries. In 2022, the value of textile imports by South Korea reached $20.3 billion.
11. Poland
Value Of Textile Imports (2022): $24.4 Billion
Share of Global Textile Imports (2022): 2.59%
Poland is a country in Central Europe that ranks among the top textile-importing countries. According to reported data, Poland’s textile imports amounted to $24.4 billion in 2022.
10. Netherlands
Value Of Textile Imports (2022): $24.9 Billion
Share of Global Textile Imports (2022): 2.64%
The Netherlands, also known as Holland, is a country in Northwestern Europe that ranks among the top 10 textile-importing countries. In 2022, the total value of textile imports by the Netherlands reached $24.9 billion.
9. Vietnam
Value Of Textile Imports (2022): $27.5 Billion
Share of Global Textile Imports (2022): 2.92%
Vietnam is a country in Southeast Asia. It is one of the top textile-exporting countries. However, Vietnam imports most of the raw materials needed by the textile industry. In 2022, Vietnam’s textile imports amounted to $27.5 billion.
8. China
Value Of Textile Imports (2022): $27.8 Billion
Share of Global Textile Imports (2022): 2.95%
China is one of the largest and most populated countries in the world. It is one of the top garment-exporting countries in the world. China is also a major importing country of textile products and it ranks 8th on our list of the top 20 textile importing countries. China’s textile imports amounted to $27.8 billion in 2022.
7. Spain
Value Of Textile Imports (2022): $30.3 Billion
Share of Global Textile Imports (2022): 3.22%
Spain is a country in Southwestern Europe that ranks among the top apparel-importing countries. According to reported data, the total value of textile imports by Spain reached $30.3 billion in 2022.
6. Italy
Value Of Textile Imports (2022): $31.8 Billion
Share of Global Textile Imports (2022): 3.38%
Italy, a country in Southwestern Europe, is home to a strong textile and fashion industry. In 2022, the total value of textile imports by Italy reached $31.8 billion. Italy ranks 6th on our list of the top 20 textile-importing countries in 2024.
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Disclosure: None. Top 20 Textile Importing Countries in 2024 is published on Insider Monkey.