Kyrgyzstan enters the top three key consumers of Uzbek textiles
25/07/2020 14:10
Kyrgyzstan enters the top three key consumers of Uzbek textiles
25/07/2020 14:10
Tashkent, Uzbekistan (UzDaily.com) -- As evidenced by the data of the State Statistics Committee, in the first half of the year, Kyrgyzstan first entered the top three consumers of Uzbek textiles.
The largest share of textile exports falls on the Russian Federation (US$311.4 million - 37.4%), China (US$164.9 million - 19.8%) and Kyrgyzstan (US$112.4 million - 13.5%), noted in the message of the statistics department. For the export of textiles in the first half of this year, Kyrgyzstan for the first-time outstripped Turkey, where textiles for US$99.1 million were shipped in January-June.
At the end of January-June 2020, exports of textile products in the amount of US$833 million were carried out, which made up 13.3% of the total export volume and, compared to January-June 2019, it increased by 8.1%.
Cotton yarn (49.1%), as well as finished knitwear and garments (27.9%), account for the main share in the structure of textile exports. In January-June 2020, more than 395 types of textile products were exported to 56 countries.
The increase in the volume of exports of textile products can be directly considered as a result of reforms in the production of finished products and the formation of added value instead of the production of raw cotton, the information said.
According to the chairman of the Uztekstilprom Association Ilkhom Khaydarov to the Economic Review magazine, the textile industry around the world is already suffering heavy losses due to the COVID-19 pandemic. According to experts, the textile sector of the world economy may lose up to 20% of profits. Nevertheless, the crisis, along with challenges, provides new opportunities for those sectors of the economy that have competitive advantages.
Ilkhom Khaydarov notes that it was the textile industry of the republic that turned out to be more prepared for the pandemic. The textile sector is starting to rebuild and adapt to the realities of today's world.
The coronavirus pandemic has spurred demand for textile products used in the healthcare sector, and it's not just about masks and overalls. These products include bed linen and medical clothing. In addition, the pandemic is affecting the current global market and changing its structure, which also suggests opportunities for Uzbek textiles, at least in traditional markets, Ilhom Khaydarov noted.
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