Garment exports shoots up 27% in October '06

04 Jan '06

2 min read

Garments exports have grown from $ 2.65 million in October 2004 to $ 7.7 million in October 2005 registering a growth of 27.7 percent.

Textile exports grew by 6.5 percent for the same period.

Export of garments on year-to-date basis till October last year was $ 8 billion, whereas export figures for the same period this year has been $ 9 billion, up 5 percent.

Export of textile for year-to-date October period was $ 7 million this year compared to $ 7 million in 2004, registering a 4.7 percent growth.

Export figures of the entire sector on year-to-date stands at $ 13 billion recording a growth of 5 percent.

Apparel exports to the United States too have registered a growth of 2 percent year-to-date, achieving sales of $ 54 billion.

Exports to the European Union stood at $ 6 million, up 23 percent where as the sector's exports went up by 42 percent with sales of $ 3 million.

The changes by Industry Transformation Plan in the business models of manufacturing sector has helped in achieving this performance.

It has opened new vistas in the EU, the US, and other countries resulting in an overall export growth, said Trade and Industry Secretary Peter Favila.

The Department of Trade and Industry (DTI) is working to strengthen the services offered to the garments and textile sector, Favila added.

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