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Asian textiles enjoy global competitive advantage

14
May '09
Textile trade plays an integral part in manipulating the economic output of many countries. It generates employment opportunities for 40 million people worldwide; and is one of the two most dynamic sectors in the world for the past two decades (the other one being electrical and electronic goods).

Proliferation of trade agreements, market consolidation has become a growing trend. Global clothing trade has seen an ever increasing pace during the past decade. Observing the demand and supply trends, industry analysts predict that by 2010 world consumption of textiles will exceed 127 billion tons.

After the termination of ATC (Agreement in Textiles and Clothing), textile and apparel production shifted to countries that posses a competitive advantage over the others.

Availability of abundant and cheap labor in developing countries in Asia carries a natural advantage and is expected to bring in higher levels of production. Simultaneously, this will also lead to increase in the textile imports of developed countries that lack comparative advantage in textiles.

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Fibre2fashion News Desk - India


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