Home / Knowledge / News / Textiles / Mauritius Text export earnings to shrink 10 % post Brexit
Mauritius Text export earnings to shrink 10 % post Brexit
27
Jul '16
Earnings from textile exports by Mauritius to Britain are likely to drop by 10 % this year as a result of the British vote to leave the European Union, the country's export association said.

"Quantity wise, there will be a drop of 10% in our exports to the UK as a consequence of the fall in consumerism level in UK coupled with the depreciation of the pound," the Mauritius Exports Association (MEXA) said in a report.

According to the (MEXA) report, 90 % of all revenues from exports of textile and apparels to the UK comes in pounds while imports are in U.S. dollars.

Thus, Mauritian exporters' profitability is expected to be "squeezed both in terms of exports and imports; exports revenue being depleted with the depreciation of the pound...and costs being inflated with the appreciation of the U.S. dollar.

The EU is Mauritius' largest trading partner, with annual earnings averaging 25.5 billion rupees ($722.77 million as a result of goods shipments to the bloc.

Within EU, Britain is the largest buyer of Mauritian goods, accounting for 18 % of total exports to the bloc. Textiles are Mauritius' top export to the UK, followed by seafood and sugar.

In 2015, textile and apparel exports to Britain amounted to 6.57 billion rupees, according to MEXA data. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 27th Sep 2016

SASEC countries plan greater economic cooperation

The six member countries of the South Asia Sub-regional Economic...

Textiles | On 27th Sep 2016

CBEC unveils draft rules for registration under GST

The Central Board of Excise and Customs (CBEC) has unveiled draft...

Textiles | On 27th Sep 2016

Swedish researchers develop new circular textiles process

A partnership between government owned Fouriertransform and private...

Interviews View All

Amit Jain
Shingora Textiles Ltd

Akash Khetan
Narayan Tex Fab

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

Lynda Kelly
Suominen Corporation

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

Kai Poehler
Voith Paper GmbH & Co. KG

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

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Pranav Mishra
Huemn

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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
September 2016

September 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search