| World textile and clothing trade rose by 4.4% to | | | | continued to rise—by 8.8% to US$69.12 bn. At this |
| US$612 bn in 2008. The rise represented as lowdown | | | | level it equated to 78% of the US deficit |
| compared with the previous few years, reflecting the | | | | comparedwith 69% a year earlier. Offsetting these |
| global economic crisis. In fact, growth in 2008 was | | | | deficits, China was the country with the world's biggest |
| slower than in any year since 2001, when there was a | | | | surplus, followed by India, Turkey, Italy and Pakistan. |
| 3.2% decline. That said, four trade flows involving Asia | | | | The world's biggest textile exporter in 2008 was the |
| grew at double digit rates in 2008. In textiles, exports | | | | EU27, followed by China, the USA, Hong Kong, South |
| from Asia to Africa increased by 20%, while those | | | | Korea, India, Turkey, Taiwan, Japan and Pakistan. The |
| from Asia to the Middle East rose by 18%. But | | | | EU27 was also the biggest textile importer, followed |
| intra-North American trade fell by 8% and | | | | by the USA—although China ranked as high as third, |
| intra-European trade by 3%. In clothing, Asian exports | | | | followed by Hong Kong, Japan, Vietnam, Turkey, |
| to Europe rose by 17% and to Commonwealth of | | | | Russia, Mexico and the United Arab Emirates (UAE).In |
| Independent States (CIS) countries by 14%. However, | | | | clothing, China was the world's leading exporter for the |
| trade with North America was affected badly. Exports | | | | third year running, followed by the EU27,Hong Kong, |
| from South and Central America to North America | | | | Turkey, Bangladesh, India, Vietnam, Indonesia, Mexico |
| declined by 5%, intra-North American trade was down | | | | and the USA. As for clothing imports, 47% of the |
| by 4% and Asian exports to North Americafell by | | | | world total went to EU countries in 2008, while the |
| 3%.Reflecting these trends, the US textile and clothing | | | | USA took 22%, Japan 7% and Russia 6%. Next in |
| trade deficit fell in 2008 for the first time | | | | importance were Hong Kong, Canada, Switzerland, the |
| since1991—by 3.8% to US$88.65 bn, of which clothing | | | | UAE, Australia and South Korea but each of these |
| accounted for 88%. The EU27 deficit, however, | | | | had only small shares. |