Iran's fabric imports recover in January 2024 after decline in 2023

According to Fibre2Fashion's market insight tool TexPro, Iran had imported fabric worth $551.299 million in 2021. This shows that imports increased in 2022 but decreased in the following year. However, an increase can be expected this year. The country is dependent on fabric imports due to the lower capacity of the local industry. Nevertheless, it exported fabric worth $38.124 million in 2023, $35.217 million in 2022, and $41.191 million in 2021. During January 2024, outbound shipments were noted at $2.578 million.

Iran also imports yarn in significant quantities. Yarn imports were recorded at $424.667 million in 2023, $380.351 million in 2022, and $275.773 million in 2021. The imports reached $52.901 million in January 2024. The country's exports of yarn were limited, amounting to $16.803 million in 2023, $20.708 million in 2022, and $23.071 million in 2021. The trade was recorded at $5.251 million in the first month of this year.

The country is focusing on exporting garments, but it has achieved little success. Apparel imports were also very limited in previous years. Apparel exports reached $73.711 million in 2023, compared to $68.078 million in 2022 and $90.694 million in 2021. It exported apparel worth $5.623 million in January 2024. Its imports of apparel were $3.066 million in 2023, $2.761 million in 2022, and $3.071 million in 2021, as per TexPro.

Fibre2Fashion News Desk (KUL)