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Taiwan's textile sector output to grow in 2012 - Report
20
Feb '12
The output of Taiwan's textile industry is likely to surpass NT$ 500 billion (US$ 16.89 billion) this year, according to a report released by the Ministry of Economic Affair's Industry and Technology Intelligence Services program.

The report presented by Liu Yu-cheng, an analyst with the Taiwan Textile Research Institute, stated that the country's textile and allied industries valued at NT$ 498.3 billion in 2011, which is a 3.3 percent rise over the previous year's figures.

The report presented an analysis of various production segments within the textile industry. Fabric, man-made fibre and apparel segments contributed a 62.5 percent, 32.5 percent and 5 percent share, respectively.

As per the statistics, owing to sluggish economic revival, the European debt crisis and China's stringent monetary policy, the sector registered quarterly crashes during last year, Liu said.

Since 2008 economic slump, Taiwan's textile industry has been enduring waning demand on the back of rising redundancy rates and a rise in cotton prices between 2010 and 2011.

However, in spite of all adversities, the industry achieved a NT$ 12.7 billion in exports during 2011, which is the highest in last one decade, Liu said.

According to Liu's projections, the Lunar New Year holidays would cause the country's textile sector production value to drop during the first quarter of 2012, however, it would improve in the second quarter.

He said that growing at a rate of two to three percent, the sector's overall production value is likely to surpass the 2006's levels of NT$ 500 billion, this year.

Fibre2fashion News Desk - India

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