Home / Knowledge / News / Textiles / Global textile & apparel markets to remain subdued in 2012
Global textile & apparel markets to remain subdued in 2012
24
Jul '12

Textile and clothing markets are likely to remain subdued in 2012, given the considerable uncertainty in the global economy, and the fact that the debt crisis in the eurozone continues to hit business and consumer confidence, according to Issue No 156 of Textile Outlook International from the global business information company Textiles Intelligence.

In the EU economy, the recovery which started in 2010 is expected to be snuffed out in 2012. Forecasts suggest that the EU economy will suffer a second dip in 2012 with GDP down in real terms by 0.5%. A partial recovery is predicted for 2013 but GDP is expected to grow by only 0.8%.

The views of European textile manufacturers reflect this outlook. Having reported a notable recovery in their markets in 2011, the recovery slowed markedly in the last quarter of the year and the view now is that the effects of Europe’s economic turbulence will continue to have an adverse effect on trade during the remainder of 2012 and perhaps beyond. Indeed, in the first quarter of 2012, EU clothing imports were down in volume by a dramatic 12.0%.

The prospects for the USA are less pessimistic. In 2012 GDP growth is expected to accelerate to 2.2%, from 1.7% in 2011, before falling back slightly to 2.1% in 2013. Nevertheless, clothing imports continue to be affected, with the volume of imports in the first quarter of 2012 down by 3.9%.

Weak market conditions in the EU and the USA affected exports from several Asian countries in the first quarter of 2012, following strong growth in 2011 as a whole. In Indonesia, for example, textile and clothing exports rose in value by 18.2% in 2011 but fell by 5.2% in the first quarter of 2012. In Thailand, exports rose in value by 7.5% in 2011 but declined by a sharp 15.3% in the first quarter of 2012. And in the Philippines clothing export growth slowed in value to just 1.1% in the first quarter of 2012 following an 11.4% rise in 2011. Export growth also slowed in several other countries.

In India, meanwhile, clothing exports fell in value by a sharp 11.9% in the 2011/12 financial year, which ended on March 31, 2012, having increased by 4.7% in the previous year. Textile export growth, meanwhile, slowed to just 0.4%, having risen by 34.7% in 2010/11.

Reflecting the country’s weaker export prospects, Indian GDP growth forecasts for 2012 have been revised downwards. In September 2011 it was forecast that India’s GDP would grow by 7.5% in 2012 but in April 2012 this forecast was revised downwards to 6.9%. Furthermore, in the first three months of 2012, Indian GDP rose by only 5.3%, which represented the slowest quarterly growth rate in India for nine years.

The prospects for China -- which has long been an engine of growth for the world economy -- are similar, with GDP growth forecasts lowered from 9.0% to 8.2%.


Must ReadView All

Apparel/Garments | On 22nd Sep 2017

Govt announces new duty drawback rates for garments

The Government of India has today announced the new duty drawback...

Courtesy: ITMA

Textiles | On 22nd Sep 2017

ITMA 2019 to focus on smart garment technologies

ITMA 2019, the world's largest textile and garment technology...

Apparel/Garments | On 22nd Sep 2017

New US FTC rule for RN used on textile product labels

The US Federal Trade Commission recently streamlined requirements...

Interviews View All

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Kevin Nelson
TissueGen

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

Eamonn Tighe
Nature Works LLC

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Pranav Mishra
Huemn

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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 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
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

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
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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