Weak Markets In The US And EU Affect Textile Exports In Asian Countries

As the global economy is in a very uncertain state, and the euro zone's sovereign debt crisis continues to crack down on business and consumer confidence, textiles in 2012 and

Fear of falling into the doldrums.

The EU economy, which began to recover in 2010, is expected to burst this year.

In general, the EU economy will slide further this year, and its GDP will decline by 0.5% in real terms.

According to the latest report, EU GDP will grow by only 0.8% in 2013.

The views of European textile manufacturers are reflecting the above reports.

It has been reported that the European market will have an obvious recovery in 2011, but the fourth quarter of last year turned into a marked recession.

The current view is that in the second half of 2012 - or even longer, the trade in textiles will be affected by the continuing economic turmoil in Europe.

In fact, in the first quarter of 2012, imports of garments in the EU dropped by 12%.

The outlook for the United States is not so pessimistic. The growth of the 2012 GDP is expected to rise from 2011 to 1.7% and 2.2% to 2013.

Despite this, imports of garments in the United States were also affected, with imports reduced by 3.9% in the first quarter of this year.

The weakness of the US and EU markets also affected exports from several Asian countries, which showed strong growth in overall exports in 2011, but exports slowed in the first quarter of 2012.

Take Indonesia as an example, the country's textiles in 2011 and

The value increased by 18.2%, but in the first quarter of 2012, it increased by only 5.2%.

Thailand's export value increased by 7.5% in 2011, but it was 15.3% in the first quarter of 2012.

Philippines's clothing exports increased by 11.4% in 2011, but increased by only 1.1% in the first quarter of 2012.

Exports from other countries also slowed down.

In the 2011/2012 fiscal year (March 31, 2012 deadline), the export value of garments decreased by 11.9% in India, but 4.7% in the previous fiscal year.

Textile exports increased by 34.7% in the 2010/2011 fiscal year, while 2011/2012 grew by only 0.4% in the fiscal year.

The above situation fully reflects the weakness of the country's exports. 2012, the growth of India's GDP has been downhill; in September 2011, the growth rate of India's GDP was forecast to be 7.5%, which was forecast to decrease to 6.9% in April this year. In the first quarter of this year, the growth of GDP in India was only 5.3%, showing the lowest growth rate of GDP in nine years.

The mainland's economic performance is also similar - the country has been the engine of world economic growth for many years, and the growth rate of GDP in mainland China has been reduced from 9% to 8.2%.

As a result, the growth rate of global GDP in 2012 will be estimated to grow from 2010 to 4.1%, 2011 to 2.5%, and only to 2.1% by 2012.

Nevertheless, emerging markets, especially the so-called BRICs (including Brazil, Russia, India and Mainland China), will continue to play a key role in supporting global trade growth in the future.

Take India as an example to predict the ten years from 2010 to 2020.

And the clothing market will grow by 169%, and the sum will increase from $52 billion to $140 billion.