Home / Knowledge / News / Apparel/Garments / JAAF slashes 5-year export targets by $1 bn
JAAF slashes 5-year export targets by $1 bn
28
May '10
The poor export climate this year, has forced the apparel industry representative body of the country, The Joint Apparel Association Forum (JAAF) to trim down its export targets by around US $1 billion for the next five years.

In this regard, Secretary General of JAAF, Rohan Masakorala said that, the association had set the revenue target this year as $5 billion. But with no market support and with half the year already gone, the cost structure of the association remained same, and therefore, the association changed its target to $4 billion, which, according to them, was a more realistic target to achieve.

Almost 93 percent of country's overall garment exports are shipped to US and EU, but these markets are still experiencing recessionary impact, which is consequently affecting the Sri Lankan exports.

During initial three months of the current year, export earnings of the country slipped down by around 15 percent against the earnings of the corresponding period of 2009, informed JAAF.

Taking such a trend into account, it has been estimated that, export earnings of the current year will be lower than that of 2009. However, the garment industry is optimistic about 5 percent year-on-year increment in the export revenue from 2011-2015.

The industry is concerned about its future shipments in to the EU market, as Euro has witnessed depreciation against US dollar. Along with this, another issue of concern for Sri Lanka is that, it would be bound to pay 8-12 percent duty on garment exports to EU, as EU is likely to suspend its GSP+ duty-free trade scheme after mid-August 2010.

Fibre2Fashion News Desk - India

Must ReadView All

Apparel/Garments | On 18th Jan 2017

Government considering 100% FDI in single brand retail

The Government of India is looking at allowing 100 per cent foreign...

Courtesy: Walmart

Apparel/Garments | On 18th Jan 2017

Walmart to create 34,000 new jobs in the US

The world’s biggest retailer and also the biggest US private sector...

Courtesy: UN Department of Public Information

Textiles | On 18th Jan 2017

World economy expanded by just 2.2% in 2016: UN

The world economy expanded by just 2.2 per cent in 2016, the slowest...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search