Declining textile exports in H1, a cause for worry
07 Oct '05
1 min read
Since the expiry of textile quotas begining this year, small yet significant texile pockets of the world particularly, Mauritius suffered severe setback.
Being a major foreign exchange earner for the country, textile industry saw a steep decline of 18 percent in textile exports during the first six months, this year.
This drop is considerable for a sector which provides 52,000 jobs and indirect employment to the tune of additional 200,000 in a total population of 1.2 million.
Figures released by Central Statistics Office show that MUR9.6 billion or US $320 million earned from export was much below MUR11.7 billion earned during same period, last year.
Since 2002, a steady decline has been recorded on the textile export front, indicates the data garnering MUR22.9bn in 2004.
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