World textile and clothing trade rose in 2003 by a substantial 11.3%.
This was the fastest increase since 1995, when trade grew by 15%.
The 2003 rise followed a 4.0% increase a year earlier as trade
recovered from the global economic slowdown, from the US recession,
and from the impact of the terrorist attacks on the USA on September
11, 2001. Textile exports from Western Europe to Eastern Europe
soared by 21% to fuel the region's apparel industries. In the reverse
direction, clothing exports from Eastern Europe to the West grew by
an almost equally impressive 18%. By contrast, textile exports from
North America to Latin America grew by only 3% while clothing
exports in the opposite direction stagnated. Between 1995 and 2000
this regional trade flow had grown by an average of 22% a year. But
Latin America has faced intense competition in the US market from
China since the country joined the World Trade Organisation (WTO)
in late 2001 and the first batch of quotas was eliminated.
The US textile and clothing trade deficit rose by another 9.1% in 2003
to US$73.11 bn. As much as 90% of the total was in clothing. The EU
deficit also rose. But at US$34.94 bn it was still only 48% of the US
figure-even though the two markets are similar in size. China again
had the world's biggest textile and clothing trade surplus. But Turkey
came second after a 24% increase. In the process it displaced Taiwan,
whose surplus fell for the third year running.
The world's biggest textile exporter in 2003 was the EU, with China
second. The EU was also the largest importer, followed by the USA.
But China ranked as high as third. The EU also led the world's
clothing exporters, although China was the biggest exporter when EU
intra-trade was excluded. 43% of the world's clothing imports were
shipped to EU countries in 2003 while the USA took 30%. | 
