The 15 per cent drop in apparel exports is a disappointing trend, especially because Bangladesh’s garment exports increased by 18 per cent in the same period, ITF said in its analysis. While suggesting that the sector should introspect and identify the reasons behind the fall in exports, the association hoped that it would be a temporary trend and exports would bounce back.
During the month, exports of man-made fibre (MMF) textiles, including yarn, fabrics, and made-ups but excluding garments, also showed a negative trend. In continuation of trend observed in the past few months, the value of MMF textile exports fell 4 per cent to Rs 2,450 crore compared to exports of Rs 2,552 crore in July 2016.
However, cotton textiles showed a stable trend and increased 1 per cent to Rs 5,114 crore over July 2016 exports of Rs 5,059 crore. ITF expects cotton textile exports to improve in the coming months due to seasonal factors.
On the import side, cotton and waste imports rose considerably bringing some comfort in the domestic front. These imports witnessed a surge of 108 per cent to Rs 914 crore over Rs 438 crore in July 2016.
Import of all textiles, including cotton and MMF yarn, fabrics and made-ups but excluding garments, also rose 8 per cent to Rs 882 crore in July 2017, compared to imports of Rs 816 crore in the same month of the previous year. “Imports of textiles have not increased much after GST. We have to closely watch in the coming months on this,” ITF said. (RKS)
Fibre2Fashion News Desk – India
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