World textile and apparel trade and production trends, March-April 2004

published in Issue 110, March-April 2004    Report price: Euro 600.00; US$ 785.00

US output fell in 2003 as clothing exports declined, textile exports slowed and imports, especially from China, continued to rise. Clothing firms were profitable but three major textile firms filed for bankruptcy. In Argentina exports and output bounced back. Brazil also benefited and its exports to the USA were strong. In Colombia sales to the USA were boosted by the Andean Trade Promotion and Drug Eradication Act (ATPDEA). But competition from China, Vietnam, and Latin America plunged Mexican firms into a crisis. EU output fell as retail sales slowed, import volumes rose and export values fell for the first time in years. China alone supplied 96% of the volume rise but Bangladesh, Turkey, Pakistan, India, Egypt and Romania also contributed. Mediterranean Rim exports stagnated from all countries except Turkey. 2003 was a bad year for South Africa as the hike of the rand hit exports, sucked in imports and depressed output. Japanese output fell across all sub-sectors as exports and retail sales declined, and imports took an even greater share of demand. China continued to progress with output value up 21% as the domestic market stayed buoyant and exports rose by 28%. But raw material shortages are leading to price rises. In Hong Kong garments did better than textiles as rising exports to Europe offset falling sales to China. Exporters are looking to gain from the Closer Economic Partnership Arrangement (CEPA), China?s first WTO-compliant free trade agreement. South Korea?s industry declined for a third year but poor quality Chinese goods could persuade buyers to return. Taiwan?s exports continued to disappoint and many firms are moving to China. Indonesia still suffers from rising energy and labour costs, poor productivity and unfavourable exchange rates, and some Malaysian firms are moving to China. But Thailand bucked the trend with output up and exports to China especially strong. Vietnamese exports to the USA continued to soar despite new quotas, and interest from US buyers is growing. Leading stores are also looking to source more from Bangladesh and India, although Indian output and exports were disappointing in 2003 as the rupee strengthened against the dollar. Pakistan did better with exports and output higher and hopes pinned on a scheme for three export processing zones. Sri Lanka recovered well from its downturn and aims to compete on its good record on social issues.

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