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

Textiles | On 24th Jun 2017

Applied DNA to tag cotton for 2017/18 US ginning season

Applied DNA, provider of DNA-based supply chain security,...

Apparel/Garments | On 24th Jun 2017

NPD Group launches Trend Tracker for apparel trends

Global information company the NPD Group has launched Trend Tracker,...

Textiles | On 24th Jun 2017

Cotton USA’s first innovation competition in UK ends

Cotton USA has announced the successful close to its first innovation ...

Interviews View All

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Marcel Alberts
Eurofibers

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

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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

news category


Related Categories:
June 2017

June 2017

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

SUBSCRIBE


Browse Our Archives

GO


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