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Global export growth eases in Q2 2025 amid US tariff pressures: Fitch

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Global export growth eases in Q2 2025 amid US tariff pressures: Fitch



The global trade volumes slowed noticeably in the second quarter (Q2) of 2025, reversing the sharp increase recorded in the first quarter (Q1) of 2025, a move which had been triggered by importers front-loading ahead of the implementation of US tariffs, according to Fitch Ratings, a company of S&P Global.

An example of this trade volatility is shown by US imports in Q1 2025 and Q2 2025, when volumes increased 30 per cent year-over-year (YoY) in March but then contracted to -2.8 per cent YoY by June, as highlighted in the latest ‘Fitch-20 Economic Monitor’.

With an average US effective tariff rate of 16 per cent, it expects global trade to slow further in the coming months. At a regional level, export volumes in the two months to June slowed in advanced economies and China but recovered in Korea and Australia. Exports from Mexico, a major trading partner of the US, were flat in Q2, Fitch said in its non-rating action commentary.

The global trade volumes fell in Q2 2025 after a Q1 surge driven by importers front-loading ahead of US tariffs, according to Fitch Ratings.
US import growth slowed from 30 per cent YoY in March to 2.8 per cent in June, with the average effective US tariff at 16 per cent.
Exports weakened in advanced economies and China, while India’s imports rebounded 11 per cent after a sharp Q1 decline.

Import growth slowed sharply in Brazil from 16 per cent in Q1 2025 to 4 per cent in Q2 2025, as past monetary tightening continues to weigh on domestic demand. In India, import volume growth rebounded from almost -13 per cent YoY in Q1 2025 to 11 per cent YoY in Q2 2025, while in Mexico it was flat.

Fibre2Fashion News Desk (SG)



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Philippine GDP expands 4% YoY in Q3 2025: Official data

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Philippine GDP expands 4% YoY in Q3 2025: Official data



The Philippine gross domestic product (GDP) grew at 4 per cent year on year (YoY) in the third quarter (Q3) this year, according to the Philippine Statistics Authority (PSA).

One of the main contributors to this growth was the growth in wholesale and retail trade.

All three major economic sectors—agriculture, forestry and fishing; industry; and services—posted YoY growths of 2.8 per cent, 0.7 per cent and 5.5 per cent respectively in the quarter.

The Philippine GDP grew at 4 per cent YoY in Q3 2025, official statistics show.
One of the main contributors to this growth was the growth in wholesale and retail trade.
Government final consumption expenditure, exports of goods and services, and such imports posted YoY growths of 5.8 per cent, 7 per cent and 2.6 per cent respectively in the quarter.
Gross national income grew by 5.6 per cent YoY.

On the demand side, household final consumption expenditure grew by 4.1 per cent YoY in the quarter.

Government final consumption expenditure, exports of goods and services, and such imports posted YoY growths of 5.8 per cent, 7 per cent and 2.6 per cent respectively.

Meanwhile, gross capital formation posted a decline of 2.8 per cent YoY.

Gross national income grew by 5.6 per cent YoY in the quarter, a PSA release said.

Net primary income from the rest of the world posted a YoY growth of 16.9 per cent during the quarter.

Fibre2Fashion News Desk (DS)



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Jordan’s garment-leather exports up 3% YoY to $1.63 bn in Jan-Aug 2025

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Jordan’s garment-leather exports up 3% YoY to .63 bn in Jan-Aug 2025



Jordan’s garment and leather sector exported goods worth $1.636 billion during the first eight months this year—a 3-per cent year-on-year (YoY) increase, according to the Jordan Chamber of Industry.

Garments accounted for 90 per cent of the total exports in the sector during the period, Ihab Qadri, the sector’s representative at the chamber, said.

Qadri attributed the growth to strong external demand, particularly from European markets. The sector’s exports to Italy surged by 121 per cent YoY and to Germany by 97 per cent YoY.

Jordan’s garment and leather sector exported goods worth $1.636 billion between January and August 2025—a 3-per cent YoY rise, the Jordan Chamber of Industry said.
Garments accounted for 90 per cent of the total exports in the sector in the period.
The sector’s exports to Italy rose by 121 per cent YoY and to Germany by 97 per cent YoY.
A similar trend was seen in the Arab and Latin American markets.

A similar trend was witnessed in the Arab and Latin American markets as well. Exports to Saudi Arabia were up by 24 per cent YoY and shipments to Mexico rose by 20 per cent YoY during the period.

Exports to the United States rose by 5 per cent despite new US tariffs, domestic media outlets reported.

The garment and leather sector contributed 21 per cent of Jordan’s total industrial exports, Qadri said. The industry comprises over 1,000 factories, employing nearly 96,000 workers, 70 per cent of whom are women.

Qadri highlighted progress on a planned integrated industrial cluster for the leather and garment industries, supported by the International Finance Corporation (IFC). The project has completed feasibility studies and site selection, with promotional efforts underway to attract investment and local labour.

The cluster aims at strengthening supply chains, reducing production costs, accelerating delivery times and addressing challenges like raw material shortages that account for about 60 per cent of total production costs, he added.

Fibre2Fashion News Desk (DS)



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Fine-count cotton yarn demand firms in south India; prices steady

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Fine-count cotton yarn demand firms in south India; prices steady



In Mumbai, demand remained slow as the weaving sector continues to face labour shortages. Cotton yarn prices have not shown significant movement in recent days. A trader from Mumbai told Fibre*Fashion, “A large number of power looms are closed or running partially due to a shortage of workers. Workers from Bihar are expected to return next week after voting. We hope cotton yarn demand will improve once they are back.”

In Mumbai, ** carded yarn of warp and weft varieties were traded at ****;*,****,*** (~$**.****.**) and ****;*,****,*** per * kg (~$**.****.**) (excluding GST), respectively. Other prices include ** combed warp at ****;****** (~$*.***.**) per kg, ** carded weft at ****;*,****,*** (~$**.****.**) per *.* kg, **/** carded warp at ****;****** (~$*.***.**) per kg, **/** carded warp at ****;****** (~$*.***.**) per kg and **/** combed warp at ****;****** (~$*.***.**) per kg, according to trade sources.



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