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Editorial: the Global Economic Crisis Looks Set to Engulf the Textile and Clothing Industry in Asia
published in Issue 137, September-October 2008
After several years of growth, the boom in textile and clothing exports from a number of leading Asian supplying countries looks set to end in 2009 as the global economic crisis takes its toll.
The crisis could engulf major players such as China and India, whose exports have already slowed down markedly. It could even affect Vietnam—whose exports have continued to surge.
Vietnam has been one of the most successful exporters of textiles and clothing in recent years. In 2007 export sales grew by 33.4% to a record US$7,784 mn—thus exceeding the industry’s US$7 bn target for the year. Moreover, exports continued to soar in 2008, despite a slowdown in the global economy. As a result, Vietnam rose to become the USA’s second biggest foreign supplier of textiles and clothing in the first ten months of 2008—behind China.
But signs of a slowdown are already evident. In the first ten months of 2008, Vietnamese exports to the USA grew by 21.5%. Although such an increase is substantial, growth in 2007 had reached 34.2%.
The trend in the EU market has been similar. Growth in EU imports from Vietnam weakened in euro terms from 12.2% in 2007 to 8.4% in January-June 2008.
|Six times a year, Textile Outlook International provides up to 200 pages of intelligence, expert analysis and insight on the global textile and clothing industry.|
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Each issue provides an authoritative source of information on key industry topics, including: circularity; cotton; environmental sustainability; fibre prices; innovation; production and consumption forecasts; imports and exports; industry giants and emerging brands; international trade fairs; key geographical markets; recommerce; retail; supply chains; textile and clothing trade; textile machinery; trade and production trends; world markets; and yarn and fabric manufacturing.
A single issue of Textile Outlook International includes:
an editorial think-piece on a topical issue from an industry expert a report on textile and apparel trade and production trends a round-up of the latest international trade fairs a feature on textile and clothing imports and exports or fibre prices, production and consumption a report on a key geographical market insight and analysis of a key market leader or fast-growing start-up
An annual subscription to Textile Outlook International is a cost-effective way to keep informed about trends and developments in the global textile and clothing industry. Subscriptions are available in printed and/or digital formats. Printed and digital subscribers receive each issue in printed format in addition to a digital PDF file, which is available immediately on publication.
Like all Textiles Intelligence publications, Textile Outlook International is a reliable source of independently sourced business information, and it does not carry advertising.
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|(Institute for East West Studies, Czech Republic) ||