Currently, Taiwan is one of the major manufacturers and exporters of textile and apparel in the world. if The country has invested and developed a new technology to integrate the entire value chain of the industry.
In the beginning, Taiwan used to import raw materials and export the finished products to the overseas market. Now it is using materials derived from petrochemicals and importing raw cotton yarn and manmade staple yarn. Apparel industry of the country is highly export oriented. Approximately 75 per cent of the apparels produced are exported.
The total production value of textiles and apparels have significantly declined by 12.31 per cent in the last five years from $14.7 billion in 2013 to $12.9 billion in 2018.
The textiles and apparel factories of the country have increased. In 2018, the textiles factories were 3519 and apparel factories were 1158. They are expected to grow at the rate of 11.25 per cent and 1.22 per cent to reach 3915 and 1172 respectively in 2021.
In 2018, employees in the textiles and apparel industry of Taiwan were 100111 and 32198 and expected to move up to 105117 and 33808 respectively in 2021 with a growth rate of approximately 5 per cent.
Average monthly wage of the textiles and apparel industry workers of Taiwan have been improving at a high rate since 2016. It is expected to surge with a CAGR of 3.21 per cent and 6.88 per cent to reach $1,479 and $1,520 in 2021 from 2018.
Exports and imports of textiles and apparels is expected to rise to $10,283.71 million and $4,236.94 million in 2021 with a CAGR of 0.70 per cent and 4.80 per cent respectively from 2018.
