Nigerian textile import is on rise, in this current year during the fourth quarter Nigeria would spend about $140 million (N27.5 billion) on imported textiles. as the Nigerian textile industry is under perfoming due to the influx of cheaper fabrics from China and India, although there are about 30 operational textile mills but running only at an average of 40 percent of installed capacity. Foreign textiles are among the 41 items that will not benefit from official foreign exchange from the Centr

Pakistan despite being the fourth largest producer of cotton has been performing poorly in cotton trade. The cotton consumption is likely to decline by 12 percent this year. By consuming 2.2 million tons of cotton, Pakistan would be exporting around $13 billion of cotton products whereas with the same quantity of combined cotton production Bangladesh and Vietnam would generate exports of $54 billion, according to a recent cotton update by the International Cotton Advisory Committee. Pakistan’

Sri Lanka’s apparel sector to upgrade its apparel designing to new levels has partnered with leading provider of hi-tech solutions for the global textile industry. The Lankan apparel industry for the first time has entered the 3D design platform with World’s leader in 2D and 3D apparel design software, the New York headquartered Optitex. Minister of Industry and Commerce Rishad Bathiudeen on 23 February in Colombo while addressing the launch event of JAAF’s twin Public Private Partnership ini

China's exports in yuan-denominated terms slumped 20.6 percent year on year to 821.8 billion yuan (126.3 billion U.S. dollars ) in February, while imports dropped 8 percent to 612.3 billion yuan, customs data showed on Tuesday. The decline in exports widened from a 6.6 percent decrease in January, but that of imports narrowed from 14.4 percent a month earlier, according to figures from the General Administration of Customs (GAC). The monthly foreign trade surplus shrank by 43.3 percent yea

According to the agreement, Kraig Labs will form a subsidiary company in Viet Nam and open an advanced hybrid silk research and pilot production operation. "This agreement represents a major advancement for Kraig Labs and is the successful culmination of two years of negotiations and many more years of scientific research and development," Chief Executive and Founder Kim Thompson said. "It is a key milestone in the advancement of our longstanding business plan to bring these advanced mater

Talking to reporters in Hanoi, Hu said although the global economic slowdown continued in 2015, the two countries’ trade still grew stably and fast. Vietnam is currently the second largest ASEAN trade partner of his country, following Malaysia, while China is the biggest exporter to and the fourth largest importer of Vietnam. China’s statistics show that bilateral trade revenue hit 95.8 billion USD in 2015, a year-on-year increase of 14.6 percent. That included 66.1 billion USD in China’s ex

Chinese textile company Loftex Logistics has acquired a new 53,000-square-foot warehouse in New Jersey to use as its first fulfillment and distribution center in the US. The company, which manufactures and exports home textile goods, paid approximately $12.5 million for the warehouse in Carlstadt, about 15 miles west of New York, according to real estate research company CoStar. The sale was announced at the end of February and the newly constructed warehouse was owned by Sitex Group, a Ne

Brazil has requested Bangladesh to lift its ban on export of raw jute so that Brazilian jute industries can get the item. Bangladesh has kept suspended export of raw jute since November 3 last year in a bid to ensure supply of the fibre to the local jute mills and to implement the Mandatory Jute Packaging Act 2010. In a note verbale issued on Tuesday, Brazil’s embassy in Dhaka informed the Bangladesh foreign ministry that the country was seriously considering to find out alternative source

The local demand of raw jute has increased after making the use of jute sacks mandatory in packaging different agricultural products including rice, say the people related with the sector. “We now need to produce an additional 1.5m bales of raw jute annually as mandatory jute packaging law pushed up demand,” said Mohammad Kefaetullah,a director of the Department of Jute. Before the law came into effect, the jute mills under Bangladesh Jute Mills Corporation (BJMC) and private sector had an

Brisk activity was witnessed on the cotton market on Tuesday as spinners rushed to book quality lint to meet their near-future demand. However, short supply of quality cotton restricted trade volume. Floor brokers said sentiment was induced by global rising trend in major cotton markets, including the US, China and India. The overnight recovery trend sustained itself on strong demand from spinners. According to market sources, a sudden turnaround in world cotton markets influenced the dome