Garment Exports Take A Beating In 2001

On account of slackening global demand, India's garment exports, the largest item in the country's export basket, has decreased by 27.82 per cent to $ 1.62 billion during January-April 2001, compared to $ 2.24 billion in the corresponding period last year.

The latest data released by Apparel Export Promotion Council, show that in quantitative terms also garment exports have decreased 24.56 per cent to 443.5 million pieces in the first four months of the current year, compared to 587.9 million pieces last year.

During April this year, India's garment exports were valued $ 292.2 million, representing a decrease of 35.24 per cent. In terms of quantity, exports at 80.8 million pieces decreased by 28.11 per cent as compared to the same month last year.

While garment exports to the United States have decreased by 14.70 per cent to $ 662.5 million, during the first four months of the calendar year, quantity of exports to the US has decreased by 13.29 per cent to 107 million.

Similarly, exports to the European Union stood at 262 million pieces, valued at $ 687 million which, in value terms, was 9.84 per cent less than the corresponding period last year.

Exports to Portugal, Greece, Ireland and Denmark increased in value terms whereas export to other countries of the EU witnessed a decline.

During January-April 2001, India's garment exports to Canada took a major beating with a 30.9 per cent decrease in quantity to 22.1 million pieces. In value terms, exports to Canada were worth $ 74 million, a decrease of 22.76 per cent over the corresponding period last year.

Exports to countries outside the bilateral agreement were severely hit and amounted to $ 194.8 million, a decrease of 67.93 per cent. In quantitative terms there was decrease of 67.79 per cent with 52.4 million pieces during the period under consideration.