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Portugal Textiles and Clothing Report Q4 2009Published by: Business Monitor International Published: Oct. 1, 2009 - 38 Pages Table of Contents
AbstractPortugal is a medium-sized textile and clothing (T&C) producer, which entered the EU in the mid-1980swith a comparative advantage on labour costs, but that has been whittled away over the last two decadesas the EU has enlarged to the east and textile quotas have been lifted globally, intensifying competitionfrom Asian imports. BMI ranks Portugal as number 27 in the world in terms of T&C manufacturing valueadded. In nominal terms, we estimate that to have been worth US$5.55bn in 2008. The industry faces atough time over the next two years, with further downsizing as the global and European recessions followtheir course.Overall Portuguese T&C value added will fall by 11.4% in 2009 and by 1.0% in 2010, reflecting verydifficult international economic conditions. We see a weak recovery setting in from 2011, with growth of0.7%. The industry’s trade performance will also reflect the especially difficult international economicsituation. Combined T&C exports will fall 14.8% to US$4.48bn, while imports will contract by 8.9% toUS$4.46bn, leaving a small trade surplus of US$19mn. Get Full Details About This Report >> |
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