Home / Knowledge / News / Apparel/Garments / Apparel exports tumbles along with US economy
Apparel exports tumbles along with US economy
10
Jun '08
Despite availing the benefits of African Growth and Opportunity Act (AGOA), the export of apparels to US, largest client of Kenya, declined in the month of May due to global recession particularly in the economy of the super power.

Kenyan exports have witnessed a rapid downtrend since last year as Asian and Chinese exports surged remarkably. However, the recent dramatic drop in garment exports can only be attributed to US slowdown which is causing the country's export processing zones (EPZs) to slip into doldrums following job cuts and diversion of capital investments to Asian countries.

May sales were down by 1.1 percent when compared to the same month last year. While women apparels saw a drop of 5.4 percent, footwear sales decreased by 1.0 percent.

Low export orders from the US are resulting in shutdown of some of the biggest and most active apparel enterprises. Athi River-based Rising Sun, MRC EPZ, Global Apparels and Ruaraka-based Apex are just a few to name.

Nonetheless, the EPZA has built up hopes among garment entrepreneurs urging them to diversify their exports to countries or regions other than the US. Domestic firms are still demanding an extension of AGOA and have secured similar benefits with the European countries which will help them to tide over the present crisis.


Must ReadView All

Textiles | On 20th Jul 2017

Provide safety net for cotton growers: Congress to Trump

A bipartisan Congressional coalition has called attention of...

Courtesy: ITMF

Textiles | On 20th Jul 2017

ITMF'17 themed on tech, trade, climate in disruptive times

The International Textile Manufacturers Federation (ITMF), an...

Textiles | On 20th Jul 2017

RIL’s Q1 FY18 petrochemicals revenue up 22.9% y-o-y

Reliance Industries Limited (RIL) has reported its financial...

Interviews View All

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X