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Apparel exports to US drop drastically in 2007

05
Mar '07
Declining trend in exports of apparel industry can also be seen in first two month of 2007.

In February, exports to US reached US$ 2.33 million compared to $6.53 million in same period last year, a decline of 64 percent.

Similarly, garment exports for first two months of 2007 achieved $ 4.92 million over $11.13 million in same period last year.

Even in the starting of the 2007, industry was only able to export apparel worth $2.59 million, a drop 54 percent.

This trend is witnessed in the market since US provided duty-free market access to Sub-Saharan African and Caribbean competitors.

However, latest problem faced by industry is labour uncertainties, lack of support by Government and absence of industry favorable policies.

In 2006, exports to US only decreased by six percent after shipping goods worth 47.75 million.

Decline of 59 percent in April last year was the second highest in both 2006 and 2007.

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