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As the year comes to a close, Japan's thriving apparel market is poised to achieve an impressive US $87 billion in sales for 2023, according to recent data. Projections indicate a continuous growth trajectory, with a Compound Annual Growth Rate (CAGR) of 2.42 percent anticipated from 2023 to 2027.

 

The textile sector, a vital contributor to Pakistan's economy, is grappling with challenges as the fluctuating prices of yarn create significant hurdles for small spinning mills. The impact is particularly pronounced on unit owners, both small and large, who are struggling to secure yarn at affordable rates amidst already escalating energy costs.

The industrial landscape in Indonesia, particularly the textile and textile products (TPT) sector, is grappling with an ongoing crisis marked by factory closures and a relentless wave of layoffs. The situation, exacerbated by various factors, including economic slowdowns in key export markets and the influx of imported products, has raised serious concerns about the well-being of workers and the sustainability of the industry.

In a setback for the world's largest cotton producer, China's annual cotton production witnessed a significant decline of 6.1% in 2023, falling to 5.618 million tonnes, according to data released by the National Bureau of Statistics (NBS). Unfavorable weather conditions in major producing regions took a toll on the cotton industry, raising concerns about the global cotton market.

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  2. Jokowi Takes Decisive Action Against Influx of Imported Clothes and Shoes
  3. Bangladeshi Textile Millers Seek Financial Relief Amid Economic Challenges
  4. Bangladesh Textile Sector Navigates Towards Circular Economy: The Need for Funding, Tech, and Policy Support