Global Apparel Market – An Overview | Watch NOW! | Ad
Home / Knowledge / News / Textiles / Greek debt crisis hit Turkish textile industry
Greek debt crisis hit Turkish textile industry
03
Jul '15
After the exports of the Turkish textile and apparel sector to Greece went up 9.1 per cent to $116 million in 2014, the first five months of 2015 concluded with a 19 per cent decline, according to Istanbul Textile and Apparel Exporters Association (IHKIB) President Hikmet Tanriverdi.

“Manufacturers in Turkey are not favoring long term installment offers due to the high risk. There is no trust in Greek banks left,” adds Footwear Industrialists Association of Turkey (TASD) President Hüseyin Çetin.

he TASD president states that from 2014 Turkey was able to increase its exports by 50 per cent to $10 million. While sales in the first six months of 2015 were at $5.1 million, seemingly heading towards the same trend as 2014, the future outlook is a major concern.

The prospect of Greece leaving the Euro would carry severe implications according to Seref Faya Turkey Clothing Manufacturers' Association (TGSD). “The Euro would lose value in the face of the dollar which would hinder our sales.”

Grecece has been tottering on the edge of financial collapse after the government failed to repay an IMF loan of 1.7 billion dollars this week.

Greece goes to a referendum on Sunday that will test whether Greek citizens want to stay in the eurozone. New elections could also be held if Greece’s financial situation worsens.

Or Greece could test the willingness of Russia or China to help should talks with Europe falter.

Some people are now saying that the real deadline for Greece is late July, after all the warnings that a Tuesday deadline with the IMF was the make-or-break day. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

UK retailers may face extra £190 mn in business rates

Apparel/Garments | On 21st Sep 2018

UK retailers may face extra £190 mn in business rates

Retailers in the UK are likely to face an extra £190 million on their ...

Courtesy: EFI

Textiles | On 21st Sep 2018

Digital textile printing expected to grow at 20% CAGR

Digital textile printing is at this time about 3-4 per cent of all...

Bangladesh demands better prices for garment items from US

Apparel/Garments | On 21st Sep 2018

Bangladesh demands better prices for garment items from US

Bangladesh sought better prices for its exports, especially garments, ...

Interviews View All

Saket Garg, Garg Corporation

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Top executives, Textile industry, India

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Karin Ekberg, Leadership & Sustainability

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Abhishek Dhanuka,

Abhishek Dhanuka

Vyom International Pvt Ltd, established in 2002, is one of Surat's leading ...

Tejas N Patel, Navin D Patel,

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Sandip Bhojani, Manthan Patel,

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Matthew Kolmes, Supreme Corporation

Matthew Kolmes
Supreme Corporation

Supreme Corporation manufactures innovative specialty yarns and safety...

Justin Chan & Shyam Gollakota, University of Washington

Justin Chan & Shyam Gollakota
University of Washington

A fabric that can store data without any electronics or batteries has been ...

Luis Quijano, Liberty University

Luis Quijano
Liberty University

Focusing on bold patterns and colour palettes, Luis Quijano, a student at...

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Sandeep and Sarah Shaikh Gonsalves, SS Homme

Sandeep and Sarah Shaikh Gonsalves
SS Homme

SS Homme celebrates the craft of traditional tailoring through the bespoke ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search