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ADB forecasts dark clouds over Asian apparel industry in 2009
01 May '09
1 min read
According to the Asian Development Bank, Textile and Apparel exports will fall in 2009. As prices rose in China and fell in India, results may finally be strongly different in value and volume terms. As a dominant player, China should bear the brunt of the world textile recession but other countries are expected also suffering, such as Pakistan.
US clothing imports fell 7% in volume terms in January and this will differently affect apparel exporters depending on where they are located. Prices of Indian clothing exports sharply fell for instance, while volume exports were rising as a consequence.
In constant 2004 prices, total Asian textile and apparel exports are expected to drop by about US$8 billion with China accounting for a large part at US$3.9 billion. This may be more or less probable forecast, but such data are however indicating how severe the current crisis in Asian exports is after EU and US imports began sliding since last year.
Click here to read the complete article.
US clothing imports fell 7% in volume terms in January and this will differently affect apparel exporters depending on where they are located. Prices of Indian clothing exports sharply fell for instance, while volume exports were rising as a consequence.
In constant 2004 prices, total Asian textile and apparel exports are expected to drop by about US$8 billion with China accounting for a large part at US$3.9 billion. This may be more or less probable forecast, but such data are however indicating how severe the current crisis in Asian exports is after EU and US imports began sliding since last year.
Click here to read the complete article.
Fibre2fashion News Desk - India
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