Home / Knowledge / News / Apparel/Garments / Exports of apparels & textiles go in to a tailspin
Exports of apparels & textiles go in to a tailspin
08
Jul '08
The textile & apparels industry in Hong Kong seems to be going through a rough period in the last 3 years. While exports from neighboring China seem to be galloping, the situation in Hong Kong is quite the opposite.

In 2005 exports of apparels was HK $56,240 million and that of textile products HK $4,695 million. A dip of 11.3 percent and 11.8 percent respectively corresponding to 2004.

It further slid to HK $52,233 million in respect of apparels, down by 7.1 percent and HK $4,120 million for textiles, down by 12.3 percent in 2006 in contrast to 2005.

2007 was a watershed year for the industry. Exports of apparels further sank to HK $38,889 million a plunge of 25.5 percent. Textiles also went the way of apparels by registering only HK $3,608 million, but with a fall of only 12.4 percent when evaluated with figures of 2006.

2008 was no better. Apparel exports in March reached HK $1599 million, a growth of 3.7 percent with the corresponding period in 2007. But the gains were washed away in April & May 2008 when apparel exports slipped to touch HK $1638 million and HK $1881 million respectively. In percentage terms it was a steep fall of 31.3 percent and 37.4 percent respectively with the same period in 2007.

The downfall in textile products has not been as steep as in apparels through out the last 3 months. In March, April and May 2008 exports were HK $ 293 million, HK $327 million and HK $284 million respectively.

The corresponding fall in growth for March, April and May 2008 are a negative 17.3, 7.0 and 19.7 percent respectively when matched with same period in 2007.

Click here to view export data

Census & Statistics Department: Hong Kong


Must ReadView All

Courtesy: Pexels

Textiles | On 27th Apr 2018

AWEX EMI sets new all-time record; touches 1847ac per kg

In the week ending April 27, 2018, the Eastern Market Indicator (EMI) ...

Indian exporters lobby FIEO urges lifting of ban on LoUs

Textiles | On 27th Apr 2018

Indian exporters lobby FIEO urges lifting of ban on LoUs

India’s exporters lobby Federation of Indian Export Organisations...

US GSP extension restored on 22 Apr, refunds not automatic

Apparel/Garments | On 27th Apr 2018

US GSP extension restored on 22 Apr, refunds not automatic

The US generalized system of preferences (GSP) programme was restored ...

Interviews View All

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

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

Leave your Comments


April 2018

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

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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

Yes No

Active Poll

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

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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

Yes No

Active Poll

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

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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

Active Poll

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

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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