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Drop in exports derails clothing industry
16 May '06
1 min read
Statistics from the Planning Institute of Jamaica, PIOJ, illustrate that clothing sector has undergone its 10th successive year in the red in the year 2005.
And there is more bad news for the local clothing industry in store.
Clothing export earnings have steeply declined by 82 percent to touch just US $37 million.
To further push the state in abyss, for the current year, even the 807-garment programme has been put on hold.
The PIOJ declared the fall-off sustained in spite of plans to support the industry such as the Caribbean Basin Trade Partnership Act.
Clothing industry took added beating as the United States and Europe, the two major importers have reduced drastically their sourcing from here due to high operational costs.
Clothing exports to the US and Europe fell by 50 percent and 98 percent correspondingly.
And there is more bad news for the local clothing industry in store.
Clothing export earnings have steeply declined by 82 percent to touch just US $37 million.
To further push the state in abyss, for the current year, even the 807-garment programme has been put on hold.
The PIOJ declared the fall-off sustained in spite of plans to support the industry such as the Caribbean Basin Trade Partnership Act.
Clothing industry took added beating as the United States and Europe, the two major importers have reduced drastically their sourcing from here due to high operational costs.
Clothing exports to the US and Europe fell by 50 percent and 98 percent correspondingly.
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