Southeast Asia textile and apparel exports rise on China’s decline
Apparel opportunity is finally coming towards South Asia as exports from East Asian giant China and start-ups Cambodia and Vietnam is on decline at least in the United States. According to the US Department of Commerce’s Office of Textiles and Apparel reports, after textile and apparel exports started declining in the recent months, China, Vietnam and Cambodia took the largest hit with a decline of 43.3 per cent, 22.4 % and 22 % respectively in the month of March compared with February 2016
Textile exports decline in March 2016 compared with March 2015 was 42.1 % for China, 22.6 % Vietnam and 34.4 % for Cambodia. Textile and apparel exports from India increased by 15.3 % in March compared with exports of same items in February 2015. Bangladesh recorded an export increase of 7.9 % during the same period while Pakistan’s exports in textiles and apparel increased by 8.8%.
However, when compared with March 2015, the increase in exports from these countries was much lower. The increase in exports from India was only 1.4%, Bangladesh and Pakistan recorded negative exports of 0.1 % and 2.9 % respectively.