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India's apparel exports decline significantly in July
30
Aug '12
Apparel exports from India showed a significant decline of 16.7 percent year-on-year in July 2012, according to the data released by the Apparel Export Promotion Council (AEPC).
 
India exported US$ 1 billion worth of garments in July, thus taking the total clothing exports from April to July this year to US$ 4.2 billion, down 13.23 percent from the US$ 4.9 billion worth of apparel exports made during the corresponding period of previous fiscal.
 
Last fiscal, India exported US$ 13.7 billion worth of garments, and the country has set a target of US$ 18 billion for 2012-13 fiscal.
 
The decline in India’s apparel exports is mainly due to a decrease in garment imports by the EU and the US, India’s traditional markets.
 
From January to June this year, India’s apparel exports to the EU declined sharply by 25 percent year-on-year to US$ 2.9 billion, while its exports to the US dropped by 9.8 percent to US$ 1.7 billion.
 
However, India was not the only country which saw a decline in its apparel exports to the EU and the US during the first half of 2012.
 
EU’s overall apparel imports fell 13 percent year-on-year to US$ 39.1 billion during January-June 2012, while total garment imports by the US dipped by 0.05 percent year-on-year to US$ 35.9 billion.
 
Bangladesh was the only country whose garment exports to the EU increased during the six-month period, while exports from Turkey and China declined.
 
Similarly, Vietnam was the only country whose apparel exports to the US rose 4.72 percent during the period under review, according to the US Department of Commerce data.
 
The US clothing imports from Bangladesh, Indonesia, Mexico and China fell during the first six months of the current year.
 

Fibre2fashion News Desk - India

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