World textile and apparel trade and production trends, September-October 2002

published in Issue 101, September 2002   Report price: Euro 600.00; US$ 785.00

US textile output was down by 2.6% in January-August 2002 while apparel output declined by 7.4%. Exports fell, despite a weaker dollar, and weak demand in the domestic market forced down clothing prices to a four year low. US imports surged?especially from China?as quotas were liberalised. Softer demand and Chinese competition have also hit exports from Mexico. In Argentina the industry is suffering despite the depreciation of the peso. The Argentinean crisis has also hit the industry in Brazil. Colombia has raised sales to Andean markets but exports to the USA and the EU have fallen.

In the EU, textile output fell in 2001 despite a big rise in the trade surplus. Clothing held up better as exporters made gains in Russia, Romania and Hong Kong. Imports from Eastern Europe surged in advance of EU enlargement, although EU membership is causing concern among East European companies. So is the end of quota protection in 2005. The region?s trade surplus is already shrinking as Asian suppliers make inroads. Many plan to move east. Closer ties with the West are, however, boosting South African exports, aided by the weaker rand and the African Growth and Opportunity Act (AGOA). Trade is also growing with other Southern African Development Community (SADC) members. But trade agreements have also led to higher imports.

In Asia, the Japanese industry is shrinking at an even faster pace although imports have eased. Chinese exports have been boosted by WTO membership and output growth is strong. But average prices are falling. In Hong Kong, South Korea and Taiwan exports and domestic demand remain weak and firms are moving to low cost countries. Most Asean countries are also suffering from weak export demand as well as competition from China. But Vietnam has watched its exports to the USA soar by 1,073% in 2002 after signing a trade deal. India?s exports suffered in 2001/02 but there are signs of an upturn in textiles. Pakistan has done relatively well as trade concessions have helped to overcome market weakness. But Sri Lanka and Bangladesh are suffering from weakness in their main markets and intensified competition as quotas restricting competitors are liberalised.

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