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Gloomy state entangles domestic wool industry
14
Mar '08
Wool textile industry of Macao made endless efforts last year for survival, but all in vain, as overseas trade is continuously decreasing with every passing year.

According to statistics, total export value of wool yarn dropped down from 157 million yuan to nearly 75 million yuan in 2007, showing decline of 51.95 percent.

The downfall can be further confirmed when export value of 2006 is compared with 2005, showing a reduction of 55 percent.

Experts believe that, wool industry is passing through a gloomy situation due to less demand in market, lack of proper infrastructure and machinery. All these are affecting the production negatively, leaving local manufacturers far behind in competitive international market.

Fibre2fashion News Desk - China

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