Home / Knowledge / News / Textiles / Textile sector benefits from US recession
Textile sector benefits from US recession
22
Nov '10
The Kenyan textile industry is eyeing massive development opportunity in the US as consumers there are facing severe financial crisis, and are thus shifting to low cost zero duty imports from Africa rather than from other Asian countries, which don't enjoy any duty concession iin their exports to US.

In accordance with the African Growth and Opportunity Act (AGOA) agreement, the effects of the global economic slump have rendered African textile imports, more cost competitive to US consumers.

The Kenyan textile industry is now witnessing the demand for textiles from India, China, and Sri Lanka moving to African countries which enjoy duty free access, and more so now, when the global cotton prices are touching life time highs.

All the production units are operating at their optimum levels, and added that, this rise in demand may help the industry to overcome the decline in textile exports over the last few years.

There has been a continuous fall in Africa's textile sales turnover under AGOA agreement to US, from Sh21.7 billion in 2003 to Sh14 billion in 2009.

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 28th May 2017

Over 45% US retailers to use AI in next 3 years: Report

Over 45 per cent retailers in the US plan to utilise artificial...

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Apparel/Garments | On 28th May 2017

Naked Brand, Bendon sign agreement to reorganise

Naked Brand Group, a fashion and lifestyle brand, and Bendon Limited, ...

Interviews View All

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Pranav Mishra
Huemn

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search