Turkey: Garment exports decreased by 700 million USD in the past 4 months.
Following the increase in its textile import tariff to 20% in June, Turkey registered a decrease of US$700 million in garment exports in the past four months, Turkish news media reports
Egytex News Desk
Source: www.yarnsandfibers.com
According to Yand#305;lmaz Yand#305;lmaz, Chairman of the United Brands of Association of Turkey (UBA), since the import duties of textiles were increased to 20%, the production costs of garments have grown by 30%, adding tremendous burden to the Turkish garment exports. The association was quoted as expecting that this year, the country would only be able to export US$16 billion worth of garments, compared to its set target of US$17 billion
Garment exports make up 16% of Turkey's total exports and have significant contribution to alleviating the country's foreign trade deficit.
Source: www.yarnsandfibers.com
From the Egytex news archive, first published on 28 December 2011. Figures and names are as reported at the time.
