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Textiles and apparel sales on a downturn
Jul '11
The textiles and apparel industries in Greece are facing an appalling situation, according to the statistics of the Hellenic Fashion Industry Association (SEPEE), the largest apparel and textiles manufacturers association in the country.

The situation is particularly annoying for the apparel industry. In the initial four months of the current year, apparel production witnessed a year-on-year drop of 28.5 percent in terms of value and 20.1 percent in terms of volume. Besides, the retail sales too plummeted by 29.1 percent in terms of value.

Textiles, on the other hand, recorded a mere three percent fall in domestic sales during the period, but exports dropped by a substantial 67 percent compared to the same period during the previous year.

However, SEPEE is optimistic that very soon the trend would be reversed in both apparel and textiles sectors.

Meanwhile, imports too dropped significantly by 14.6 percent year-on-year during the period.

Fibre2fashion News Desk - India

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