Romanian textile industry is likely to find itself abandoned from Asia

Romania textile industry which used to be highly appealing for European fashion houses owing to its cheap labor force and low-price raw material will soon find itself abandoned from Asia.

Textiles account for 10% in 2006's GDP. In 2010, the textile industry is likely to shrink by 25% compared to 2006. It will reach 7.5 billion euros in 2010, two billion euros lower than 2006 as the number of textile industry will be reduced to almost halve, as domestic companies will reposition so as not to directly compete with Asian products.