Textile & Footwear expects strong growth of production and export turnover

In January the Textile & Apparel industry registered a 1.2 percent year-over-year increase in export turnover and production, raising the turnover to 1.9 billion US Dollar.

In the Textile industry, the production of natural fibers is estimated to increase by 9.7 percent; reaching 25.2 million Square meters (Sqm). Meanwhile, production of synthetic-fiber and artificial fibers will reach 61 million Sqm; an increase by 14.8 percent in comparison to January 2014.

The Footwear industry expects the production of shoes and sandals to increase by 19.8 percent over January 2014, reaching 24 million pairs. The export turnover of this industry is estimated to grow by 23.2 percent in comparison to January last year. Industry insiders analyzed that this increase in exports is mainly generated by foreign invested enterprises, rather than the state-owned firms.

The Ministry of Industry and Trade has planned to encourage local enterprises to produce efficiently and diversify material resources in order to take advantage of preferential trade agreements. Moreover, enterprises should pay more attention to increase the add-value of export products in order to increase the export turnover as well as satisfy the customer’s demands.

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