Russia top destination for Indian garment exports in CIS region

06 Aug '24

2 min read

Russia top destination for Indian garment exports in CIS region

Pic: Adobe Stock

Insights

Russia is the largest market for Indian garment exports among the Commonwealth of Independent States (CIS), with shipments totalling $39.202 million in January–May 2024.
Exports to Kyrgyzstan, the second-largest market, reached $5.433 million.
Trade with Uzbekistan, Kazakhstan, and Ukraine saw significant declines compared to previous years.

Russia is the largest market for Indian garment exports among the Commonwealth of Independent States (CIS). India’s garment shipments to this partner country were recorded at $39.202 million during January–May 2024. In comparison, India exported garments worth $41.056 million in 2023 and $29.848 million in 2022.

Although CIS members have had very fragile bilateral diplomatic relations due to geopolitical dynamics since the organisation's inception in 1991 following the collapse of the USSR, their common economic interests have remained similar.

Exports to Kyrgyzstan were recorded at $5.433 million in the first five months of the current year. India had exported apparel worth $12.498 million in 2023 and $18.015 million in 2022 to this partner country, which was the second-largest destination for Indian garments among CIS countries, according to Fibre2Fashion's market insight tool TexPro.

Outbound shipments to Uzbekistan were valued at $1.399 million in January-May 2024, compared to $3.772 million in 2023 and $6.986 million in 2022. India’s apparel exports to Kazakhstan were $0.437 million, and to Ukraine, $0.205 million in the first five months of 2024. Earlier, shipments to Kazakhstan were $1.118 million in 2023 and $0.335 million in 2022. Trade with Ukraine was valued at $0.332 million in 2023 and $0.231 million in 2022, as per TexPro.

Fibre2Fashion News Desk (KUL)

More Apparel/Garments News - Russia...

This according to Fibre2Fashion's Market Intelligence Tool - TexPro