Global clothing exports to Middle East grow in 2012

17 Sep '13

3 min read

By contrast, Indonesian exports to Japan rose by 42.6%, those to South Korea were up by 35.7% and those to the UAE increased by 15.4%.

For manufacturers in Malaysia, meanwhile, the fastest increase was in exports to Brazil (up by 20.4%) while the steepest declines were in exports to the UK (down by 14.9%), Italy (down by 11.8%), Belgium (down by 11.1%), Germany (down by 3.5%) and France (down by 2.8%).

Looking ahead, emerging economies will continue to provide exporters with growth opportunities.

Also, the situation in the EU, and in the eurozone in particular, is expected to improve after the latter region officially climbed out of recession in the second quarter of 2013, following 18 months of contraction.

However, any growth in the EU economy in 2013 will be slow, and global trade growth -- although up on the previous year -- will continue to be much slower than in the years prior to the global economic crisis.

Furthermore, while this weakness persists, the threat of protectionism could build and have a negative impact on global trade -- especially given the fact that other attempts to restore growth following the global economic crisis have failed.

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