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Garment exports show marginal growth
08
Aug '08
The Honduran garment industry has been going through rough times in recent years. The exports figures are none too impressive, since growth has more or less stagnated in the last few years.

Garment export from the country which was US $2,622.30 million in 2005, dropped to $2,440.20 million in 2006 and rose marginally in 2007 to close the year with $2,510.90 million. In comparison to 2005, negative growth rates were registered in both of the following years.

Recently released figures for the first four months of 2008 are also not so notable. Honduras exported goods worth $148.71 million in January, $207.59 million in February, $202.37 million in March and finally $213.50 million in April to sum up a total of $772.17 million.

Corresponding figures for the first four months of 2005, 2006 and 2007 amount to $832.30 million, $705 million and $746.50 million respectively. When the figures of 2008 are evaluated against figures of 2005, there is a noticeable negative growth rate of 7.22 percent despite the passage of a good three years.

However, in contrast to the first four months of 2007, exports have grown by a marginal 3.44 percent in the same period of 2008.

Majority of Honduran garment export is dependent on the US for its existence. Within the nations, signatory to CAFTA, Honduras has emerged as the biggest exporter to the US with a share of 30.48 percent in the first quarter of the current year.

Fibre2fashion News Desk - India

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