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Asean's textile exports to US & EU decline in 2012: TTF
28
Aug '13
The exports of textiles and garments by Asean member countries to the US and the EU markets declined in 2012, the Taiwan Textile Federation (TTF) has said.
 
The maximum decline in exports was posted by Philippines, whose textile and apparel exports to the main markets decreased by 17 percent year-on-year, TTF said, according to a CNA report.
 
Although there was significant difference in performance of Asean member states, the overall trend showed signs of drop in exports, TTF said based on a new report.
 
Textile and garment exports from Malaysia and Thailand to the main markets fell 12.4 percent year-on-year and 12.2 percent year-on-year, respectively, during the year under review. Textile and clothing exports from Indonesia to these markets also dropped 6.3 percent year-on-year.
 
However, exports of some Asean member countries performed well during the year, especially Cambodia and Vietnam, which posted a year-on-year rise of 8.7 percent and 8.5 percent respectively, in their textile and garment exports to the US and the EU in 2012.
 
TTF said Cambodia’s textile and apparel sales in the EU grew by 32.4 percent year-on-year due to the EU’s decision to relax the rule of origin (RoO) criteria under its Generalised System of Preferences (GSP), but its exports to the US market dropped by 2 percent year-on-year.
 
While Vietnam’s textile and clothing exports to the EU seem to be affected, its sales have grown in several markets, including the US, Japan, China, Russia and South Korea.
 

Fibre2fashion News Desk - India

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