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Greek textile industry bounces back
16
Oct '10
Association of Hellenic Textile Industries (SEVK), while relying on the statistics of a body of the European Union; Eurostat, has confirmed that there are signs of the industry bouncing back.

SEVK at a meeting convened recently, stated that all sector indices have depicted positive growth over the previous year. Whereas, production of textile products fell by 20 percent in 2009 over 2008, this year it has recorded a rise of 8.3 percent, over the corresponding period last year.

Also, there has been a rise in the trade volumes this year, which have grown by 7.1 percent till now, as against last year's decline of 18 percent.

The growth is mainly attributable to large scale buying activities by the customary European Union buyers, who dumped Greek industries some years back, to switch to third world countries for importing their products.

This has resulted in a 10 percent rise in the orders this year, as against the fall of 17 percent recorded during 2009. Moreover, exports too have been seen growing by around 10 to 12 percent during the period.

Fibre2fashion News Desk - India

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