Home / Knowledge / News / Apparel/Garments / Garment exports to continue momentum in to next year
Garment exports to continue momentum in to next year
15
Dec '08
The economic turmoil has started taking its toll worldwide and has started affecting operations of a majority of countries in the business of exports of textile and clothing. But the one country to beat this trend seems to be Indonesia which has a booming garment export industry and which accounts for 60 percent of all shipments from the textile sector.

This has come about due to the massive investment to the tune of US $363 million in the garment industry in the current year, which is expected to bring a growth rate of 11.4 percent in the present year and 10 percent in 2009. Clothing shipments are projected to touch $6.4 billion by end of this year compared to $5.82 billion last year.

Clothing shipments are expected to grow at a faster pace than the 8 percent projected for the textile sector as a whole. Sectoral exports are anticipated to reach $10.8 billion from $10.3 billion achieved in the last year. In spite of massive layoffs in the core textile industry, the garment industry has added 50,000 employees to its headcount of 1 million workers in 2008.

This level of employment in the apparel sector has been made possible only because of the substantial investment in the sector in 2008, which is the highest in five years. Irrespective of the layoffs in the textile sector, the booming garment sector has still not witnessed any closures or part closures leading to layoffs till date.

Exports from the garment industry account for a marginal 3-4 percent of global exports and ranks 11th among all global exporters, but is expected to better in future years, if it complies with best manufacturing practices as prevalent in a few other Asian countries. Experts aver that the biggest stumbling block faced by exporters is lack of proper communication and marketing tools and also to a great extent research and development activities.

But they add that the markets of the US and EU will continue to be the main markets from the sector, with Russia and the Middle East acting as buffers. The US is the major destination with a market share of 26 percent, followed by the EU with 12 percent, ASEAN 5 percent and Japan 3 percent.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 22nd Apr 2017

Strong rupee & weak trade to affect textile exporters

Textile and apparel exporters' earnings and EBITDA margins will be...

Textiles | On 22nd Apr 2017

Myntra acquires InLogg

With an aim to strengthen supply chain and logistics, Flipkart-owned...

Textiles | On 22nd Apr 2017

Aditya Birla Group launches new variant Liva Crème

After its successful launch of high quality fabric Liva in 2015,...

Interviews View All

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Marten Alkhagen
Swerea IVF AB

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Lynda Kelly
Suominen Corporation

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

Igor Chapurin
Chapurin

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

Rupa Sood and Sharan Apparao
Nayaab

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

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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
April 2017

April 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