US Recession Slows Asian Textile Exports

Pakistan: Recently, the US recession has caused a serious impact on Pakistan's textile exports. This year (2008) Pakistan textile exports to the United States may at least decrease by 30%.

The main textile products for export decline include household textiles, bath towel products, ready-made garments and knitted ready-made garments.

Thailand's ready-made clothing exports are slowing down. It is reported that the US, EU and Japan are facing an economic crisis, which accounts for about 85% of Thailand's garment export market. In the first 8 months of this year, Thailand's clothing exports amounted to $2 billion 290 million, compared with an increase of only 2% during the same period.

Annual export growth is expected to be less than 2%, about 2 billion 987 million ~30.5 billion dollars.

(I) estimate that in the next two quarters, Thailand's manufacturing sector will increase by one million of the unemployed population at most.

According to the latest assessment of the textile industry in India, India textile garment export is expected to reach $24 billion 600 million in 2008~2009, up 20% from $20 billion 500 million in the previous year, but far below the $31 billion 170 million export target set by the government this year.

The United States has become the largest exporter of textiles in Kampuchea. According to MEF, Kampuchea exported $2 billion 500 million to the US in 2007, accounting for 99% of its total textile exports.

The United States has become the largest exporter of Cambodian textiles.

The amount of textiles exported to the United States in the first half of this year amounted to US $1 billion 400 million, up 7% from the same period last year.

Cambodian textiles still occupy a place in the United States, mainly due to the low cost of labor in the country. At present, most of the 300 garment textile factories in the country are wholly foreign-owned or foreign-funded enterprises.