The Czech association of textile, clothing and leather industry 'ATOK' has estimated a fall of 11.1 percent in the sales of entire industry, last year. This sales plunge was lesser than that in 2008, and better than the decline witnessed by other industrial sectors.
Last year, around 22 percent workers had been laid off by the textile and clothing plants. Textile sales have been witnessing fall since a long time, compared to the other sectors which had two-digit growth-rate before financial crisis.
During first half of the last year, these sales did not fall below the end-2008 level. While, it witnessed slump in the second half, partly due to the firming of the Czech crown. The industry depends mainly on the European market, particularly the German market.
Currently, textile and clothing manufacturers employ 38,000 workers, against 50,000 workers working a year ago and were one of the main industries to be impacted, the maximum by the layoffs.
Fibre2fashion News Desk - India