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Textile & clothing industry logs double digit growth rates
30
Jul '08
At a time when the textile and garment industry from many countries across the globe are gasping for breath and struggling to maintain targeted growth rates, the textile and garment industry of Spain is on a path of rapid growth and that too in double digits.

Exports from the sector have grown by a phenomenal 16.1 percent in the first half of 2008 compared to the same period in 2007. Exports touched US $ 5.967 billion till June 2008 in contrast to $5.138 billion in the corresponding period of 2007.

The production of textiles and clothing in Spain had gone down by 2.3 and 3.0 percent respectively in 2007, but has managed to reverse the trend in the current year. Production of the industry went up from $8.332 billion in the first six months of 2007 to $9.310 billion in the same period of 2008 showing a positive growth of 11.7 percent.

Imports also took the course taken by exports increasing by 17.4 percent to reach $10.090 billion. The figures corresponding to the same period in 2007 were $8.596 billion.

The only negative factor in an otherwise blooming sector was the fall in employment levels within the sector. Compared to 200,600 people employed in the period Jan-June 2007, the numbers fell to 183,100 in the same period of 2008 to record a negative growth of 8.7 percent.

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Fibre2fashion News Desk - India

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