Indian Textiles Minister Dayanidhi Maran urged European
companies to invest more in his country and announced that
India's textile industry made an estimated $ 62 billion (45
billion euros) in sales in 2008-2009.
Wool prices significantly climbed in US$ terms in
Australia, reflecting very good demand despite the sharp
decrease in US Dollar
currency. The strength in the euro stimulated demand from
Europe which is expected to continue with sales of excellent
qualities at good price.
Thailand's clothing exports may suffer from the global
economic crisis and the elimination of US limits on imports
from China. Exports to the US market declined marginally over
the last years: 2% in 2007, 6% in 2008 and 8% in 2009. The
most important destination is United States, which only
accounted for 46% of total shipments in 2009, from 53% in
2005.
The fourth quarter of 2009 confirmed the strong rebound of
global textile production. Global yarn and fabric production
rose modestly in almost all regions, particularly in South
America, while North America recorded stagnant output. Global
yarn stocks fell slightly as a consequence of significant
lower stocks in South America and Europe and despite slightly
higher inventories in Asia, according to statistics from the
International Textile Manufacturer’s Federation (ITMF).
The Bangladesh Garment Manufacturers and Exporters
Association (BGMEA), Bangladesh Export Oriented Garments
Washing Industries Owners Association (BEOGWIOA) and South
Asia Enterprise Development Facility (SEDF) have entered into
a tri-partite agreement recently to improve environment
compliance in the textile and apparel sector. The project is
styled SEDF-BGMEA-BEOGWIOA programme. The project will also
help promote cleaner production methods in the textile sector.
The exports of Chinese textile and garment products fell
11.4% year on year in the first 11 months of this year,
according to the Ministry of Industry and Information
Technology. This decline was attributed to continuing weak
demand in the overseas market. However, the export delivery
value of textile enterprises above designated size increased
by 7.8% year on year to US$66.6 billion in November,
reflecting a growth for the second consecutive month this
year.
The Indian government has chalked out plans to seek
investment from the US and European nations in the fast
growing special textiles sector, which is engaged in
production of the specialized variant of the commodity used by
industries. The government expects investment of about Rs
5,000 crore in the next three years in the technical textiles.
The post-quota period is offering extremely contrasted
situations for US imports from China of the very important
categories 338/339 (cotton knit shirts). While Chinese prices
may have declined for a 10-digit HTS tariff line, they rose
for another one. Growth of Chinese imports may also widely
change from a product to another one.
Changing global conditions have shut down several textile
manufacturing units in China; the growth story in India has
been a positive one in the past two years. In contrast (to
China), the Indian market has developed quite positively, said
German Engineering Federation, VDMA, Managing Director, Mr
Elgar Straub.
EU imports from China surged in a large number of clothing
categories over the first half this year, after quotas were
eliminated from January 1, 2010. China occupies a predominant
part of the market in both volume and value terms, but
Bangladesh and India resisted in knit clothing categories.
US cotton trouser imports from China should be boosted by
the removal of quotas effective from January 1, 2010.
Mexico-located plants could be the main victims of the end of
quantitative restrictions after Chinese suppliers shifted to
the higher end of the US import market in the last three
years. Exporters from Bangladesh, Vietnam and Cambodia would
not be seriously affected by the definitive end of quotas,
after successfully reducing their prices and therefore gaining
shares in the past years.
Thailand's textile exports, particularly to ASEAN member
countries, still have room for growth despite the global
economic crisis, said Commerce Minister Chaiya Sasomsap. He
said China would speed up production of textiles and garment
for domestic consumption and would compete less with other
countries in the export market.
US textile industry would be harmed by new trade
liberalization, according to a U.S. official study. Removing
current rules of origin on US duty-free apparel imports would
dramatically depress US textile exports that are also
protected by very high tariffs on apparel imports from Asia.
Surging 43% in 2005-2011 without any radical change, US
apparel imports would not be further boosted by a full removal
of quotas and tariffs, the US International Trade Commission (USITC)
estimated.
Cotton prices further rose in New York and are expected
again increasing in the near term. Drought in the United
States, the end of US export subsidies and allocation of new
import quotas in China are the three major reasons behind the
rally in futures and physical prices.
With three-fourths of the total foreign exchange being
earned by the garment sector alone, Bangladesh exports in the
just ended fiscal year are set to cross the $10 billion mark,
said officials of the Export Promotion Bureau.
