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Leather garments exports ripping apart trader's morale
26
Dec '08
Available statistics show that exports of leather garments slumped by 35 percent in the month of November over the corresponding period previous year and zero orders recorded in the past two months.

In this regard, Mr Fawad Ijaz Khan, Chairman, Pakistan Leather Garments Manufacturers and Exporters Association (PLGMEA) told Fibre2fashion.com, “Till June this year, the leather garment exports were normal. But since July, till November, there is decline of around 8 percent in export and this is all due to global recession.”

Plunge in demand for leather garments in Europe and North America has weakened local exporters' sales by about 30 percent compared to last year.

During July to October of the ongoing year, exports of leather garments grew by 4 percent compared to the similar period previous year. These figures fell by around 8 percent to US $198 million during July-November 2008 from $215 million during July-November 2007.

Mr Khan lamented, “The situation is so very critical that only old orders are being processed and no new contract has been inked since the end of October”.

The sector employing nearly 50,000 workers and around 300 manufacturing companies is currently in a dire state. “There is no demand for leather garment even in domestic markets. However, it will take another 5 – 6 months for situation to come to normal,” optimistically stated the Chairman.

The current scenario is tearing apart the morale of traders. Experts in the field opine that to avoid the situation further deteriorate, Government should support this sector by providing rebates of millions of rupees.

Fibre2fashion News Desk - India


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