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 19th Aug 2017

New fabric interfaces to interact with computers

As computer capabilities evolve, new fabric-based interfaces are...

Textiles | On 19th Aug 2017

Brazilian cotton prices drop in first fortnight of August

Cotton prices dropped in the Brazilian market in the first fortnight...

Apparel/Garments | On 19th Aug 2017

Target to acquire Grand Junction for faster deliveries

Target Corporation has announced that it has agreed to acquire Grand...

Interviews View All

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Eamonn Tighe
Nature Works LLC

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

Rupa Sood and Sharan Apparao
Nayaab

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Madhu Jain
Madhu Jain

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

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

August 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
66.7%
No
16.7%
Skip
16.7%

Total Votes: 30

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
43.3%
No
36.7%
Skip
20.0%

Total Votes: 30

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
83.3%
No
6.7%
Skip
10.0%

Total Votes: 30

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
60.0%
No
10.0%
Skip
30.0%

Total Votes: 30


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