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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 expert comment and analysis. A subscription provides an overview of the global fibre, textile and apparel industries. It is essential reading for senior executives in the fibre, textile and apparel industries – and for anyone who is not involved in the industry, but needs to quickly gain an understanding of the key issues.
Reports in Textile Outlook International include:
country profiles – providing a comprehensive guide to the textile and clothing industries in a range of countries and regions. The reports include an economic and political profile together with a comprehensive overview of the main issues, plus an outlook for the future.
company profiles – giving you the opportunity to learn from strategies employed by others. Companies profiled recently include retailers, manufacturers, innovators and sourcing companies involved in textiles and apparel as well as smaller companies which illustrate the opportunities for firms which are interested in selected sourcing locations.
trends in world textile and apparel trade and production – taking into account current issues facing the industry – such as global fibre prices; competition from China and other low cost countries; the elimination of quotas and imposition of selective new ones; relocation of production operations; the impact of economic factors affecting trade; international trade agreements; trade promotion agreements (TPAs); and much more.
trends in EU and US imports of textiles and clothing – providing comprehensive statistical data and analysis of the top ten supplying countries to the EU and US markets. These reports are updated each year and contain value and volume data as well as average prices and analyses of trends for up to 15 product categories.
innovations, technological developments, business development opportunities, individual sector analysis and political implications which affect players in the global fibre, textile and apparel industries. Some of the topics which have been covered in recent reports include: new innovations in the textile and clothing industry, such as environmentally friendly textiles, plant based fibres, and developments in textile colorants; innovations in textile machinery; and overviews of the European swimwear, hosiery and lingerie markets.
So whether you are involved in fibres, textiles or clothing – in manufacturing, spinning, weaving, knitting, sewing, import/export, retailing – or if you are in education or consultancy or investment or finance, a subscription to Textile Outlook International will tell you what you need to know about the key trends in the industry.
Textile Outlook International is available on subscription – either in printed format only, or in printed and electronic format. If you choose the printed only option, you will receive 6 printed publications a year, containing a total of 30 reports plus editorials written by Robin Anson, our editorial director and in-house industry expert.
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