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Morocco Textiles and Clothing Report Q4 2009Published by: Business Monitor International Published: Sep. 14, 2009 - 40 Pages Table of Contents
AbstractMorocco is a medium to small-sized textile and clothing (T&C) producer, with comparative advantages inlow cost labour, a Mediterranean location (close to EU consumption centres) and a broadly favourableinvestment climate. On the downside, indigenous supplies of raw materials are limited and the countryruns a deficit in its textiles balance of trade (offset by a surplus on the clothing balance). BMI ranksMorocco as number 42 in the world in terms of T&C manufacturing value added. In nominal terms, weestimate that to have been worth US$2.41bn in 2008. Looking forward, we expect the industry to beadversely affected by the global recession over 2009 and 2010.Overall Moroccan T&C value added will fall by 3.7% in 2009 and by 0.5% in 2010, reflecting verydifficult international economic conditions. We see a recovery setting in from 2011, with growth of 4.6%.The industry’s trade performance will also reflect the especially difficult international economic situation.Morocco’s dilemma is that its two most important garments export markets, the EU and the US, areamong those that are hardest hit in terms of expected falls in GDP and consumer demand growth rates. BMI’s view is that the country’s overall T&C exports will fall over the next two years, althoughMorocco’s market share will not collapse. As a result, we see total exports falling by 10.4% to US$4.66bnin 2009, recovering by 4.2% to US$4.86bn in 2010. Get Full Details About This Report >> |
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