New Delhi, Mar 19: Achieving the $5.2 billion export target for ready-made garments set for the 1997-98 fiscal appears difficult, judging by the performance till February.Exports at $4451.6 million during April-February 1998 grew by 9.70 per cent in quantity and 2.75 per cent in value over the previous corresponding period, according to the latest provisional figures available with the Apparel Export Promotion Council (AEPC). Exports during February 1998 are valued at $438.3 million compared with $415.9 million in the same month last year reversing the negative trend witnessed in January. After showing a positive trend since September of the current financial year, ready-made garment exports exhibited a negative growth in January 1998. Exports in January 1998 dropped by 1.74 per cent in quantity and by 1.24 per cent in value compared to the same month last year.
The AEPC data show that in the case of the US, there had been an increase of 4.89 per cent in quantity and 13.61 per cent in value exports overApril-February 1997. The quantity exported was 5,201 lakh pieces valued at $1,620.6 million.
Exports to the EU showed an increase of 6.16 per cent in quantity but a decline in value by 5.80 per cent. The quantity involved was 5,201 lakh pieces, valued at $1620.6 million. Exports of restraint and non-restraint products to Germany, France and the UK showed a slight improvement during February 1998. To Canada, 467 lakh pieces valued at $170.1 were supplied. This showed an increase of 15.59 per cent in quantity and 12.80 per cent in value.
Exports to countries other than those covered by bilateral textile agreements rose by 17.36 per cent in quantity and by 2.69 per cent in value. Total exports to these countries were worth $1271.1 million involving a quantity of 3,901 lakh pieces. The data show that exports during January-February 1998 were valued at $908.6 million with the quantum of supplies involved being 2,568 lakh pieces. At this level, exports showed an increase of 2.43 per cent in quantity and 1.92per cent in value compared to the same period last year. While North America showed some recovery, the West European market continued its negative growth.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
