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Garment export value of 2010 registers hike
24
Jan '11
A rise of 14 percent has been witnessed in the value of garment export during 2010 when it stood at US $200 million, over the garment exports of 2009.

Europe accounted for 81 percent of the country's overall garment exports valuing $147.6 million, and US accounted for $20 million worth of apparels that is 11 percent, while Canada and Japan each accounted for four and three percent share respectively.

Two new garment firms commenced their operations in Laos during 2010, and generated 1,000 new job opportunities for the inhabitants. But then when compared with other underdeveloped economies the growth of the Lao garment sector remained sluggish, which is mainly due to the dearth of skilled manpower.

However, owing to the soaring demand in the global market, the industry is likely to grow considerably, this year.

Further, the Lao garment industry's main strategy till 2015 would remain focused on raising the number of jobs in the sector from current 30,000 to 60,000.

A rise of 24 percent was registered in Lao garment export during 2008 which then grew to $187.6 million, but in 2009 it again declined to $159.2 million.

Fibre2fashion News Desk - India

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