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 26th May 2017

Lenzing unleashes new eco-friendly fibre

There's a new eco-friendly fibre on the anvil—Austrian speciality...

Apparel/Garments | On 26th May 2017

PVH Corp Q1 2017 revenue rises 4%

The first quarter revenue of fiscal 2017 at apparel marketer PVH Corp ...

Courtesy: Levi Strauss & Co

Apparel/Garments | On 26th May 2017

LS&Co. to fund water saving solutions

LS&Co. will fund to the tune of more than $350,000 the solutions...

Interviews View All

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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