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Global textile trade has lucrative future despite recession
14
Apr '09
Textile trade plays an important role in determining the economic output of many countries. It is an efficient employment generator for 40 million people, and is one of the two dynamic sectors in the world. Analyzing the demand and supply curve during the past decade, economists predict that, by 2010, global textile consumption will exceed 127 billion tons.

The post termination of ATC (Agreement in Textiles and Clothing) period witnessed a drastic shift of production to countries with competitive advantage. Countries in Asia which posses abundant availability of labor is expected to confine to a higher level of production. At the same time, countries that lack these skills are likely to import more from others.

The forthcoming years will see an increased demand for home textiles, and functional clothing. Eco friendly clothing will be in the spotlight. Organized retailing will become increasingly popular, where the fabric will be directly bought from the manufacturer eliminating the intermediaries. There would be drastic changes in the textile trade performance of countries like Asia, US, China and EU.

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Fibre2fashion News Desk - India

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