Home / Knowledge / News / Decrease in expenditures on clothing and footwear
Decrease in expenditures on clothing and footwear
08
Sep '08
According to the preliminary calculations of Statistics Estonia, the gross domestic product (GDP) decreased by 1.1% in the 2nd quarter of 2008 compared to the same period in the previous year. Statistics Estonia changed over to the chain-linking method in calculating the economic real growth.

Compared to the 1st quarter, the GDP, chain-linked by the reference year 2000 and seasonally and working-day corrected, decreased by 0.8 %.

The decrease in the GDP was mostly influenced by the weak domestic demand and at the same time by the decrease in exports of goods and services.

Compared to the same quarter of the previous year, the domestic demand decreased by 2.8% primarily due to the decrease in private consumption and capital investments (-2.0% and -2.5%, respectively). Private consumption decreased mainly due to the decrease in expenditures on transport and clothing and footwear.

The decrease in exports and imports since the second half of the previous year deepened in the 2nd quarter this year even more. Compared to the 2nd quarter of the previous year, exports of goods and services decreased by 4.9% and imports by 8.2% by chain-linking method. Exports of goods decreased by 3.2% primarily due to the decrease in exports of refined petroleum products.

Exports of services decreased by 8.9% primarily due to the decrease in exports of services for railway cargo, airway passengers and cargo transport and trade related exports services. The decrease in imports of goods was influenced mainly by the decrease in imports of refined petroleum products and motor vehicles.

While imports decreases faster than exports, the deficit of net exports in GDP has increased since the second half of the previous year and amounted to -4.6% in GDP in the 2nd quarter this year. In the 1st quarter the indicator was -7.1% and in 2007 on an average -10.9% in GDP.

On the supply side the deceleration of the GDP was influenced mainly by the decrease in the value added in wholesale and retail trade, transport and storage, manufacturing and electricity, gas and water supply activities. The value added in financial intermediation activities also decreased.

The decrease in the value added in manufacturing was mainly caused by small domestic demand and decrease of orders resulting from it. A significant impact was the decrease in the value added in the manufacture of furniture.

Statistics Estonia


Must ReadView All

Sri Lanka to set up 150 mini apparel units

Apparel/Garments | On 23rd Nov 2017

Sri Lanka to set up 150 mini apparel units

A mini apparel factory was opened recently at Sri Lanka’s Menik Farm...

Egypt keen to boost ties with India in MSMEs, textiles

Textiles | On 23rd Nov 2017

Egypt keen to boost ties with India in MSMEs, textiles

Egypt is eager to boost cooperation with India, particularly in the...

India begins review of anti-dumping duty on caustic soda

Textiles | On 23rd Nov 2017

India begins review of anti-dumping duty on caustic soda

The Directorate General of Anti-Dumping & Allied Duties (DGAD), under ...

Interviews View All

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Yash P. Kotak
Bombay Hemp Company

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

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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

November 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search