Textile Industry – Slowdown in Textile Export Revenue in 1H2025
• In November 2024, the textile industry's total export revenue reached USD 5.8 billion (+11% YoY, flat compared to the previous month’s), with textiles and footwear accounting for 52% and 37%, respectively.• For textiles, export values have slowed down across key markets such as the US, Europe, South Korea, and China due to most fashion brands’ increased inventory during the peak season from June to August 2024. Specifically, export values to the Japanese market have declined by 2% YoY.
• We expect textile export revenue to achieve low single-digit growth in 1H2025 because retailers increased inventory, and domestic companies are slowing down their procurement of raw materials.
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