Financial Crisis Affects Asian Exports To American Textile Products

Textile exports in Asia have declined in recent months due to weak demand from the US economic downturn.

In the 2008/2009 fiscal year (from April 2008 to the end of March), the export volume of India's textile and garment industry is expected to reach US $24 billion 600 million, an increase of 20% over the previous fiscal year, but lower than that of the previous India government's forecast of US $31 billion 170 million.

Pakistan's exports to the United States dropped by 30%, especially household products, towels and knitwear.

As demand for exports from the US, Japan and Europe dropped, Thailand's clothing exports also began to decline. In the first 8 months of 2008, Thailand's clothing exports totaled 2 billion 290 million US dollars, up 2% compared with the same period last year, and the total export volume is expected to grow by less than 2%, between 2 billion 987 million US dollars and 3 billion 50 million US dollars.

According to the Ministry of economy and finance of Kampuchea, in 2007, Kampuchea exported $2 billion 500 million to the United States, accounting for 99% of Kampuchea's clothing exports.

In the first half of 2008, Kampuchea exported $1 billion 400 million to us textiles, up 7% over the same period last year.