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Garment exports shoot up in August

27
Sep '10
Influenced by the robust growth depicted by the leading export-earner, the knitwear and woven garment industry, overall export earnings of the country recorded a significant hike of 31.25 percent during August and stood at US 1795.18, million which is $217 million above the target set for the month.

This export figure is also $428 million above the $1367.79 million generated from exports from the clothing sector during the corresponding period of 2009, as revealed by the Export Promotion Bureau (EPB) data.

The total export earnings for initial two months of current fiscal starting from July 2010 exceeded the fixed target of $3.1 billion to stand at $3.6 billion, which is also 28.8 percent above the export revenues $ 2.8 billion generated during first two months of last fiscal.

Moreover the EPB data reveals that in July and August, knitwear exports generated revenues totalling to around $1.6 billion, up 32 percent year-on-year and that of woven garments too grew by 30 percent, from a year ago to reach $1.5 billion.

Home textiles earned $85.8 million from exports and footwear exports generated just $54 million.

Meanwhile, Jute and jute products grew at a striking 20.7 percent growth to touch $123 million. Further whereas, raw jute exports earned $24.6 million, jute yarn and twine fetched more than $65 million, jute sacks and bags gained $25.7 million, while other segment's contribution stood somewhere around $7.5 million.

Also specialized textiles like terry towel, special woven fabric and knitted fabrics too depicted a 20 percent rise, jointly contributing around $34.5 million to overall export earnings from the textile and apparel sector.

Fibre2fashion News Desk - India


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