US share in India`s textile exports up, EU`s down
The US share in India's textile exports has increased, whereas shipments to the European Union (EU) have declined in the current fiscal, reflecting different economic scenarios in the world's two major economies.
Egytex News Desk
Source: www.yarnsandfibers.com
According to disaggregate data, for April-September 2010-11 period, the share of the US in India's total textile exports has increased to about 20 per cent from a shade in the 19 per cent in the year ago.
On the other hand, the 27-nation bloc EU contributed 4.50 percentage points less to India's textiles exports at 29.81 per cent for the period under review. Trade analysts attribute the contrasting trend to a pick- -up in the US economy while several countries of EU are facing financial troubles and lack of economic confidence.
Between them the US and the EU account for about 50 per cent of textile exports, which faced difficult times following the recession in these economies between 2008 and 2009. However, the situation has improved in the current financial year. According to the aggregate data, textiles exports as a whole have increased by about 20 per cent between April-January period.
The country specific trade data is available only till September 2010. While the textile exports have picked up this year, the ready-made garment component did not show much growth which came mainly from the man-made fibre and cotton made ups
Source: www.yarnsandfibers.com
From the Egytex news archive, first published on 16 February 2011. Figures and names are as reported at the time.
