Taiwan can strengthen presence in Canadian textile market

30 Oct '23

2 min read

Pic: Adobe Stock

Insights

Taiwan aims to strengthen its marginal presence in Canada's apparel and home textile sectors.
Both countries have finalised foreign investment agreements, setting the stage for increased trade.
Taiwan's apparel exports to Canada were $3.9 million in January-July 2023, a mere 2.42 per cent of its total exports.
Canada imported apparel worth $6.334 billion.

Taiwan has the potential to bolster its footprint in Canada's apparel and home textile market. Both nations have concluded negotiations on foreign investment promotion and protection agreements, laying the groundwork for increased bilateral textile trade. As a developed country, Canada is primarily an importer of textile goods, while Taiwan stands as a key exporter.

According to data from Fibre2Fashion's market analysis tool, TexPro, Taiwan's apparel exports to Canada amounted to $3.900 million during the first seven months of 2023, accounting for 2.42 per cent of Taiwan's total apparel exports of $160.867 million in the same period. Canada ranks as Taiwan's ninth-largest apparel market, although Taiwan currently holds a negligible share in the Canadian apparel market.

Moreover, Taiwan's home textile exports totalled $158.633 million from January to July 2023. Of this, shipments to Canada were a mere $3.575 million, representing 2.25 per cent of the total.

Canada imported apparel worth $6.334 billion during the first seven months of the current year, as per TexPro. This suggests that Taiwan has an opportunity to expand its currently negligible presence in the Canadian market.

Similarly, Canada's home textile imports were valued at $1.030 billion during the same timeframe, with Taiwan holding an insignificant share in this product segment as well.

Fibre2Fashion News Desk (KUL)

More Textiles News - Taiwan...

This according to Fibre2Fashion's Market Intelligence Tool - TexPro