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Garment and textile sector continues to shrink

19
Nov '09
Macau's total industrial output value continued to decline in 2008, the two traditional manufacturing industries of clothing and textile industries were leading decliners, according to the data just released from Macao Statistics and Census Bureau.

Macau's gross industrial output value and other income registered 14.3 billion Macau Pataca last year, which is a decrease of 13 percent compared with 2007 and industrial value added contributed 3.5 billion Macau Pataca to the economy, reflecting a negative growth of more than 10 percent.

Data reveals that Macau had 1,045 industrial factories in 2008, a reduction of 70 compared with the previous year and employee count stood at 25,000, a decrease of 15 percent.

Macau's economy is dependent on manufacturing and industrial output and other receipts from its two traditional manufacturing industries (clothing and textiles) fell 20 percent and 15 percent, respectively, year on year.

Fibre2fashion News Desk - India


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