Home / Knowledge / News / Apparel/Garments / Garment exporters on razor's edge
Garment exporters on razor's edge
22
Dec '08
Mauritius though a small country in the Indian Ocean, has a very vibrant textile and garment industry. The sector contributes 6.5 percent of GDP and generates employment for 11 percent of the country's workforce. It has exported US $550 million worth of products in the period January-September in 2008, thereby accounting for 42 percent of the island country's total exports.

But the global economic meltdown has now exporters from the sector worried. In the initial months of 2008, it was the rising crude oil prices resulting in a hike in key raw material prices which was affecting them. Now, the recessionary trends in their major markets are now giving them sleepless nights. To add to their woes, the beginning of 2009, heralds the end of the European Preferential Trade Deal.

The country's garment exporters supply clothing to top end apparel retailers across the European Union and the US. According to reports, sales of these retailers has slumped by as much as 10-15 percent and to compensate this loss in sales they are trying to get competitive prices from their suppliers, which is breaking the backs of the exporters. But the sector which is now already surviving on razor thin margins is unable to accede to the demands of its buyers.

The main reason being the appreciation of the Mauritian rupee against most of the global currencies in which trade is conducted by the exporting community. The Mauritian currency has appreciated sharply against both the Euro and the Pound which results in lower returns to the exporters. But the situation has somewhat improved in the current month, after the Central Bank of the country made some interest adjustments. But the exporters are not satisfied and want more rate cuts.

Fibre2fashion News Desk - India


Must ReadView All

Israeli minister announces tax cuts on consumer goods

Apparel/Garments | On 14th Dec 2017

Israeli minister announces tax cuts on consumer goods

The Israeli Government will slash taxes by $227 million, finance...

Courtesy: Kelvin Techstyles

Apparel/Garments | On 14th Dec 2017

Kelvin Techstyles fuses style and function in city apparel

Fusing style and function in outdoor clothing, Roseville,...

India’s WPI inflation for textiles up 0.3% in Nov 2017

Textiles | On 14th Dec 2017

India’s WPI inflation for textiles up 0.3% in Nov 2017

India’s annual rate of inflation, based on monthly wholesale price...

Interviews View All

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

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...

Akta Adani
India Boulevard

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

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...

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

December 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

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

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
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

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
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

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
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


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