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Exports of clothing scratches bottom in March
20 May '09
1 min read
On one hand, the further contraction in exports of textiles and garments in China has been halted in March and April, on the other; Cambodia is witnessing a worsening situation, with each passing month.
Exports which had fallen by 19 percent in January further fell to 23 percent in February and crashed by 60 percent in January, when compared with the same months of the previous year.
Overall textile and apparel shipments dropped by an awesome 35 percent in the first quarter of 2009, with US leading the crash with a dip of 47 percent, EU down by 22 percent and that to Canada by 21 percent.
The only saving grace, in an otherwise dismal record was that exports to Japan grew by 14 percent and those to the Middle East and Russian markets grew by a tremendous 61 percent, which depicts, development of new markets.
Experts aver that, exports have reached the bottom and from now onwards it can only improve rather then contract further as the sector continues to enjoy the benefits of a low cost manufacturing base.
Exports which had fallen by 19 percent in January further fell to 23 percent in February and crashed by 60 percent in January, when compared with the same months of the previous year.
Overall textile and apparel shipments dropped by an awesome 35 percent in the first quarter of 2009, with US leading the crash with a dip of 47 percent, EU down by 22 percent and that to Canada by 21 percent.
The only saving grace, in an otherwise dismal record was that exports to Japan grew by 14 percent and those to the Middle East and Russian markets grew by a tremendous 61 percent, which depicts, development of new markets.
Experts aver that, exports have reached the bottom and from now onwards it can only improve rather then contract further as the sector continues to enjoy the benefits of a low cost manufacturing base.
Fibre2fashion News Desk - India
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