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Clothing exporters euphoric over pouring orders
18
Feb '10
The Turkish textile and apparel exporting community is euphoric over the recent rise in new orders, which has lent an air of optimism of the future to an industry which was badly depressed from the adverse impact of last years global economic slowdown.

Speaking during an awards ceremony the President of the Istanbul Textile and Apparel Exporters' Union (ITKIB), Mr Ismail Gülle emphasized the fact that Turkish textile exporters had got over the effects of the economic turmoil.

He said that, most of the textile companies are holding better than anticipated orders in hand scheduled for delivery in the first half of this year and expects textile exports to touch US $3.5 billion by the end of the first six months of the current year.

Turkish textile industry exports experienced a plunge of 20 percent in the previous year, but the silver lining is that, it recorded a 30 percent increase in growth in January over the same month of 2009, with a repeat performance expected in February.

The only issue worrying exporters is that the lira could gain in value against foreign currencies; an issue exporters have been raising concerns over for the past few weeks and are falling back on the Central Bank to hold it a favourable level.

They only see an overvalued lira as the most significant obstacle preventing better exports. Another concern could be the impact of the collapse of the Greek economy, since the fallout could have a impact on the EU, which consumes 80 percent of all Turkish textile exports.

Fibre2fashion News Desk - India


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