Impact Of Russia-Ukraine War On Global Apparel Industry
The impact of the Russia and Ukraine war on global cotton textile industrial chain is gradually expanding.
Among the major import origins of textile and apparel in Russia, the proportion from China takes a high of 43.8%, followed by Italy 8.1%, Bangladesh 6.4%, Republic of Belarus 6.3%, Turkey 6.1% and Vietnam 6.1%.
Viewed from the China and Russia relations and global trade change, the market shares of China in Russian textile and apparel imports may increase further in long run, to fulfill the supply gap caused by the sanctions from Europe and US. For China, the textile and apparel exports to Russia take a very small proportion, easy to meet the new demand from Russia. However, restrained by the large export shares of EU, Japan and US for China, if the war influences the relations between EU, Japan, US and China, China’s textile and apparel exports may face obvious pressure. in order to read more please refer to https://www.abiteks.com.tr/blog/impact-of-russia-ukraine-war-on-global-apparel-industry.