Sunday, January 27, 2002
India's garment exports down 21.2% in '01
PTI SUNDAY, JANUARY 27, 2002
NEW DELHI: Global economic slowdown continues to take its toll on India's readymade garment exports which has shown a decline of 21.2 per cent in value and 15.98 per cent in quantity to 1264.3 million pieces worth $4542.9 million during January-December period 2001.
However, performance is better in December 2001 when there was a rise of 4.59 and 1.7 per cent in quantity and value compared to the same month in 2000.
According to the figures compiled by the Apparel Export Promotion Council exports to restricted countries including the US, European Union and Canada amounted to 1075.1 million pieces valued at $3902.6 million in 2001.
This represented a decline 7.77 and 1.25 per cent in value and quantity respectively when compared to exports of 1088.7 million pieces valued at $4231.6 million in 2000 to the same countries.
Even to the non-restricted countries the exports more than halved in 2001 to 189.2 million pieces from 416 million in 2000 valued at $640.3 million down from $1533.6 million.
Lower per unit realisation has been one of the reasons for the fall in exports as indicated by the shipments to the US which increased in quantity to 317 million pieces, a 1.41 per cent rise over 312.6 million pieces in 2000. Yet in value terms the fall in exports to the US is 9.91 per cent to $1859.3 million from $2063.9 million.
The trend is evident in December 2001, when exports to the US increased by nearly one-third to 41 million pieces from 30.4 million pieces in December 2000, yet there is a marginal increase in value terms by 3.06 per cent
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