- According to Asian Development Bank forecast, Bangladeshi
apparel exports should slowdown in the current year, due to
the global recession and the reduction in prices. Clothing
exports continue accounting for 75% of total Bangladeshi sales
to foreign countries with about 90% being shipped to EU and
US. Bangladesh may however take advantage of relatively strict
monetary policy with inflation not exceeding 7% this year.
- The Indian textile industry is one of the largest and most
important sectors in the economy in terms of output, foreign
exchange earnings and employment in India. It contributes 20%
of industrial production, 9% of excise collections, 18% of
employment in the industrial sector, nearly 20% to the
country's total export earnings and 4% to the GDP, said
Textiles Minister Shankersingh Vaghela.
- Indonesia, Vietnam and Thailand – three big textile and
garment exporters in Southeast Asia region -- planned to
establish an ASEAN trade service alliance by the end of this
year to boost the regional textile and garment trade and to
provide a better service for buyers from outside the region,
said Indonesian Employers Association (APINDO). Total textile
and garment exports from the region stood at over $30 billion
last year, including $10.8 billion from Indonesia, $9.3
billion from Vietnam, about $8 billion from Thailand and $2.5
billion from Cambodia.
- Cambodia’s garment industry imported US$1 billion in raw
materials last year, according to the Garment Manufacturers
Association of Cambodia, leading to calls for more local
production to cut costs and improve access to Western
markets, said Kaing Monika, External Affairs Manager at
GMAC.
- Vietnam is one of the fastest growing economies of the
South-East Asian countries. Acquisition of WTO membership by
Vietnam has boosted up the growth prospects for its textile
and apparel industry. Increasing fashion consciousness of the
Vietnam consumers also boost the market of branded apparel. A
recent research report of the country's retail industry
scenario states that Vietnam apparel market is estimated to
grow at a CAGR of 15% by 2012.
- The jute sector has seen better days and was one of the
most vibrant sector in the post independence period in India
and in Bangladesh, what was know then as East Pakistan.
Millions of people including farmers, jute mill workers etc
received their sustenance from this industry. But government
apathy in both the countries led to the gradual downfall of
what is called the yellow and golden fibre, said Mr. Shabbir
Yusuf, Chairman of Bangladesh Jute Spinners Association (BJSA).
- Bangladesh in apparel exports during the year 2009 is
growing at good pace. By contrast, apparel exporters more
resisted the economic recession, especially knitwear producer
benefiting from a duty free access on EU's market. The shift
to lower-priced clothing at European and US retail was another
advantage for Bangladeshi exporters as Chinese prices sharply
rose at the end of last year.
- As cotton prices are rising on the world markets, yarn
makers in China, India and Pakistan are confronted with very
different market situations. China has a clear advantage in
local currency terms but is losing its competitiveness on the
international market, according to statistical analysis in
both domestic currency and US$ terms.
- Polyester intermediate prices again rose in Asia, in line
with a new jump of paraxylene prices. The current lack of PX
is limiting the PTA production and therefore boosting prices
in the polyester chain. With demand from the textile industry
at a seasonal high, prices may further rise or stabilize at
their new level during May, before possibly retreating in June
or July.
- The Indonesian textile industry may benefit from the
global crisis as buyers from US, EU and Japan relocate US$648
million of orders from China, said Indonesian Textile
Association (API) Deputy Chairman Ade Sudrajat. He said that
relocated orders could amount to a total of US$648 million --
equivalent to about 6 % of RI’s $10.8 billion total textile
exports in 2008.
- According to a survey conducted by the Confederation of
Indian Textile Industry (CITI), after the abolition of quota
regime, majority of composite mills had initiated expansion,
modernization and capacity building plans. These companies
would make major investment in spinning, home textiles,
processing and garments.. Of the $490 million to be invested
in the spinning sector, 65% will go into capacity building;
25% and 4% will be for modernization and forward integration,
respectively, the survey predicted.
- India emerged the biggest exporter of handmade carpets in
the world beating traditional powerhouse Iran and China. The
country has grabbed 35.5% of the US$ 2.6 billion export
market, according to the data available with the Carpet Export
Promotion Council (CEPC).
- The Bangladesh government considers a further cut in bank
interest rates, especially for small and medium enterprises (SMEs)
including textiles to help the sector grow faster, said the
Commerce Minister. The government is also considering a
special package for the SME sector in the next budget for
fiscal 2009-10.
- Wool prices further soared during May 2009 in Australia
and New Zealand, reflecting the continued lack of supply.
Activity remains heavily depressed in the wool pipeline, in
line with lower sales at retail. The current rise in wool
prices will certainly not boost wool clothing consumption in
the near term.
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