Home / Knowledge / News / Textiles / Recovery still slow in textile sector
Recovery still slow in textile sector
30
Oct '09
Historically, the clothing and textile industry in Swaziland has been linked to international markets. Prior to Swaziland qualifying for the AGOA benefits, the textile industry was not a major contributor to the country's GDP. The textile industry suffered from a lack of local quality inputs and was not protected from competing producers in South Africa.

This led to Swaziland becoming a captive market for South African exports and was serviced by South African retail clothing chain stores such as Truworth, Edgars and Tru Pep. With AGOA becoming law in May 2000 in the United States, Swaziland became a beneficiary as from January 2001.

AGOA led to a sharp increase in Foreign Direct Investment (FDI) in the clothing and textile industry, creating thousands of jobs. Government too embarked on a programme of de-centralization of the textile industry to ensure that even rural areas benefit from the emerging industry.

The textile and clothing industry not only plays a major role in the manufacturing sector, but also in Swaziland's economy as a whole. This industry has remained a major generator of employment because of its labour intensive nature. But people are losing jobs in the sector as companies are closing down with amazing regularity, since the last few years.

Another blow was dealt by, the recessionary trends which blew across the globe beginning from September of 2008 and which has taken out the winds from the textile sector in Swaziland and recovery from the same has been very slow. Most companies which were dependent on exports closed down in the early period of the current year, as order levels started tapering off.

The textile sector in the country is depending on the government to bail out the industry, as done for the sector by their respective governments in India, China, Pakistan and Vietnam. Many reputed textile companies like Spintex are only living on hope since the effects of a slow recovery in European markets has still not trickled down in the textile sector.

Fibre2fashion News Desk - India


Must ReadView All

Pakistan’s FBR imposes 5% sales tax on cotton import

Textiles | On 21st Jul 2018

Pakistan’s FBR imposes 5% sales tax on cotton import

Pakistan’s Federal Board of Revenue recently withdrew sales tax...

Bangladesh drafts policy for Tk1,000 cr govt jute fund

Textiles | On 21st Jul 2018

Bangladesh drafts policy for Tk1,000 cr govt jute fund

Bangladesh will set up a Tk10,000-crore Jute Sector Development Fund...

Ahmad A. Al Sa’adi and Kwon Pyung-Oh display a comprehensive Memorandum of Understanding; Courtesy: Saudi Aramco

Textiles | On 21st Jul 2018

Saudi Aramco, KOTRA sign MoU for business cooperation

Saudi Aramco has signed an MoU with the Korea Trade-Investment...

Interviews View All

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Pranav Mishra
Huemn

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

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

Leave your Comments


July 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search