Home / Knowledge / News / Textiles / Orders for knitwear sector fall

Orders for knitwear sector fall

08
Nov '08
It has been noted that the export orders for knitwear sector dropped significantly in October.

Confirming the news to Fibre2fashion, source from Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) informed that the US and the EU still remained the chief markets for knitwear industry of the country.

Statistics show that in fiscal year 2008-2009, knitwear and woven sector accounted for 39.21 and 36.62 percent of the total RMG exports, respectively.

The source stressed that the key reason for this drop is the slowdown in economy, leading to downfall of banks in the two markets.

Official explained, “Earlier while placing orders we used to get payment instantly, but now we have to wait for 30-40 days for getting full payment.”

Experts say that retail sale in the US and EU has shrunk considerably in past few months. If the purchasing power of the consumers in these markets falls, it is sure to adversely affect RMG exports of countries like Bangladesh.

Insiders say that companies in the US and EU are placing orders as per the requirements. There's a hand-to-mouth sentiment in the global market.

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 24th Sep 2020

IDH-Apparel Impact Institute launch Tier 1 Vietnam project

The Netherlands-based IDH-the Sustainable Trade Initiative and the...

Pic: UC SANTA BARBARA

Textiles | On 24th Sep 2020

US scientists assess synthetic fibres pollution on land

Scientists in the US have said that the volume of synthetic...

Pic: Bushell Investment Group

Retail | On 24th Sep 2020

Bushell Investment Group acquires shoe retailer ALDO UK

The Bushell Investment Group (BIG) has acquired the UK arm of the...

Interviews View All

Textile industry, Head honchos

Textile industry
Head honchos

South India has a very strong manufacturing base

Awen Delaval, Samatoa

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Vidhyaa Shankar. S, A Ganapathi Chettiar

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Rajesh Vig & Ritu Vig,

Rajesh Vig & Ritu Vig

Rajesh Vig and Ritu Vig, promoters of the kidswear brand Happy Feet,...

Alphonse Reddy,

Alphonse Reddy

Bangalore-based Sunday designs and makes mattresses and accessories that...

Marcello Galvanin,

Marcello Galvanin

Galvanin has more than 50 years of experience in the production of textile ...

Justin Gutierrez, INDA

Justin Gutierrez
INDA

The Association of the Nonwoven Fabrics Industry (INDA) has created a new...

Giorgio Mantovani, Corman S.p.A

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Steve McCullough & Marco Weichert, Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Functional Fabric Fair is a trade-exclusive event showcasing the latest...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

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

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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 2020

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


Advanced Search