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Exports of shirts to ground zero of economic crisis plummets
25
Mar '09
Exports turnover of shirts, in the first month of 2009 fetched US $47.3 million, with volumes totaling to 8 million pieces, a fall 13.6 and 28.7 percent, respectively in comparison to same period of last year.

This drop was more profound in its key and biggest market; US, ground zero of the economic crisis, where shipments plunged to $22.3 million and 4.3 million units, down 17.2 percent in value and 31.3 percent in volume.

During the period, exports of shirts to the EU witnessed a nominal drop, falling by 0.6 percent to $14.5 million, of which exports to Spain were down 10.4 percent, France down 16.3 percent and Netherlands down 3.1 percent.

But in the same period, exports to some countries of the EU also sky-rocketed like UK, 72 percent, Denmark 114.6 percent and Austria a mind boggling 473 percent. Exports to Japan also grew by 15.1 percent in volume and 6.3 percent in value.

However, the average price realized from exports of shirt grew against all odds to $5.52 per piece (FOB), up 21 percent over corresponding period of 2008. In the US it rose by 20.5 percent, Germany 49 percent and Japan 10.4 percent.

Fibre2fashion News Desk - Vietnam

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