INSIGHTS After rapid expansion in 2023, the Asia-Pacific is expected to be the fastest growing one of the world economy in 2024, backed by resilient domestic demand in East Asia and India, according to S&P Global Market Intelligence. New orders placed with Indian manufacturers continued to show positive demand conditions in December, a top company executive noted. After rapid expansion in 2023, the Asia-Pacific (APAC) region is expected to be the fastest growing region of the world econom

INSIGHTS A team of scientists from the Zhejiang University has developed a new fibre inspired by polar bear fur, offering exceptional thermal insulation. Published in Science, this durable, washable, and stretchable aerogel fibre mimics the bear's fur structure, maintaining heat efficiently. Tested in a thin sweater, it provides insulation comparable to down jackets. Chinese researchers have created a groundbreaking knittable fibre, inspired by the unique structure of polar bear fur, offering

INSIGHTS The 2024 European Parliament elections are a critical moment for the European textiles and clothing industry. EURATEX's Manifesto outlines 15 proposals to enhance the industry's competitiveness. Key focus areas include developing a smart EU industrial policy, ensuring sustainability and competitiveness, and promoting free and fair trade among others. From 6 to 9 June 2024, European citizens will vote for a new European Parliament and, based on the results, a new European Commission will

INSIGHTS The global textile industry is seeing a transformation, with a focus on sustainability goals and commercial aspects, according to Smartex. As the supply chain makes up four-fifths of the industry's environmental impact, the modern textile factory is needed to prepare it for a change in primary data reporting and investment in more sustainable technology. The global textile industry is now witnessing a transformative shift, with a growing focus on sustainability goals and commercial a

INSIGHTS Global air cargo demand rose by 3.8 per cent year on year (YoY) in October. For international operations, the demand lagged slightly at 3.5 per cent YoY, according to the International Air Transport Association. Capacity was up by 13.1 per cent YoY in the month. Middle Eastern carriers performed the strongest, with a 10.9 per cent YoY rise in cargo volumes. Global air cargo demand, measured in cargo tonne-kilometres (CTKs), increased by 3.8 per cent year on year (YoY) in October this

INSIGHTS Though the global air freight market has been on a rollercoaster ride of late, 2024 could see a return of 'classic seasonality', according to Xeneta, whose Air Freight Outlook 2024 highlights muted consumer spending as a key factor in 2024. Demand for air freight is predicted to grow by 1-2 per cent next year and supply is expected to grow by 2-4 per cent. Though the global air freight market has been on a rollercoaster ride of late, next year could see a return of ‘classic sea

INSIGHTSThe EU continues to be resilient amidst the multiple shocks endured in recent years, but has lost growth momentum in 2023 amid high inflation and tighter financing conditions, with only a moderate uptick expected in 2024, the European Commission has said.Challenges include low productivity growth, green and digital transitions, ageing and social inclusion.The European Union (EU) economy continues to be resilient in the face of the multiple shocks endured in recent years, but has lost gro

INSIGHTSInternational trade in goods and services in China was worth 4.09 trillion yuan ($569.9 billion) in October this year, according to official data.Exports of goods were worth 1.96 trillion yuan and imports worth 1.63 trillion yuan, leading to a goods trade surplus of 326.6 billion yuan, the State Administration of Foreign Exchange reported.China’s exports of goods were worth 1.96 trillion yuan and imports worth 1.63 trillion yuan in October 2023, leading to a goods trade surplus of 326.6

INSIGHTSThough uneven, growth in the Asia-Pacific Economic Cooperation (APEC) region is improving, with an expected growth of 3.3 per cent this year compared to 2.6 per cent last year, an APEC report said.Inflation in the region fell to 3.4 per cent in September compared to 6.6 per cent in the same month last year. The region's trade contracted in 2023 first half.Economic growth in the Asia-Pacific Economic Cooperation (APEC) region is showing signs of improvement, with an expected growth of

INSIGHTS South Asia's manufacturing export potential to China is worth $4.8 billion, 1 per cent of the sub-region's total, an International Trade Centre report noted. Forty-six per cent of it is realised; the unrealised potential of the sub-region to China comprises $1 billion attributed to existing frictions and $1.6 billion linked to growth projections for future. South Asia’s manufacturing export potential to China is worth $4.8 billion, 1 per cent of the sub-region’s total, ac