Home / Knowledge / News / Textiles / Imports of textiles & garment witness slide

Imports of textiles & garment witness slide

07
Oct '08
The US, is by far the biggest buyer of textiles and apparels across the globe. Its buying capacity is such that the recessionary trends and sub prime crisis witnessed from the beginning of 2008 is sending shivers down the spine of major textile and garment exporting countries.

This is made all the more clear from the level of imports in to the US in 2008. Shipments of textiles and garment which had in the last few years posted a very good growth rate have now turned negative.

Figures for the first seven months of 2008 suggest that total imports of textiles and garments have slipped to US $52.76 billion from $54.41 billion in the corresponding months of 2008 to register a negative growth of 3.02 percent.

Although the negative growth rate is not too high, the situation is likely to worsen in the last few months of 2008 and in 2009 considering the economic turmoil witnessed in the last fortnight and it's after effects.

The biggest category of imports; apparels has dropped to $40.02 billion from $41.44 billion and that of textiles to $12.74 billion from $12.96 billion in the first seven months of 2008 and 2007 respectively, to register a negative growth of 3.43 and 1.71 percent respectively.

Fibre2fashion News Desk - India


Interviews View All

Yash Maniyar, Rekha Maniyar

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Top executives, Textile & apparel bodies

Top executives
Textile & apparel bodies

The mid-term review of FTP is progressive, growth oriented

Top executives, Fabric manufacturers

Top executives
Fabric manufacturers

Domestic manufacturers would get an edge over imported products

John Kelley,

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Aaron Spivak,

Aaron Spivak

Canada-based Hush Blankets was founded by Lior Ohayon and Aaron Spivak to...

Tom Adeyoola,

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Razvan Popescu, Directa Plus SpA

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Paolo Ocleppo, Sandvik Hyperion

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Thomas Ong P S, NanoTextile

Thomas Ong P S
NanoTextile

Malaysian company NanoTextile Sdn Bhd taps into the potentials of...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

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


October 2019

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

news category


Related Categories:

Advanced Search