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

Courtesy: Hela Clothing

Apparel/Garments | On 18th Jun 2018

Hela's latest label revolves around underwear, sleepwear

The latest collection of Sri Lanka’s Hela Clothing is revolves mostly ...

Digital textile printing sector to grow by 20% by 2020

Textiles | On 18th Jun 2018

Digital textile printing sector to grow by 20% by 2020

The digital textile printing sector is expected to have a compound...

Kenya levies higher duties on mitumba import

Apparel/Garments | On 18th Jun 2018

Kenya levies higher duties on mitumba import

Kenya’s treasury secretary Henry Rotich recently raised the duty on...

Interviews View All

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Giorgio Mantovani
Corman S.p.A

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Divvya and Nidhhi Gambhir
Walnut

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

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search