Garment exports slip by 10.5 percent in June 2012 | SupportBiz

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Garment exports slip by 10.5 percent in June 2012

 
Estimates by the Apparel Export Promotion Council (AEPC) indicate that the exports of garments from India fell by 10.5 percent in the month of June 2012, as compared to June 2011.

Garment exports in June 2012 have been recorded at USD1.1 billion, while it was USD1.2 billion in June 2011.

Weak demand in the major apparel markets of the US and Europe have been cited as the reasons behind this fall. These two markets together make up nearly 65 percent of the country’s total exports of garments.

Vijay Mathur, Acting Secretary General of the AEPC, stated: "The demand is sluggish in the US and European markets, as buyers are placing few orders and not keeping inventories.

Mathur stated that demand for Indian garments in the US market is expected to pick up in the next few months.

Source: Business Standard