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Romania Textiles and Clothing Report Q4 2009Published by: Business Monitor International Published: Oct. 1, 2009 - 34 Pages Table of Contents
AbstractRomania is a small-sized textiles and clothing T&C producer, which uses its competitively pricedworkforce to supply mainly European customers with a manufacturing and assembly service basedaround cut, make and trim (CMT) operations. BMI ranks it as number 48 in the world in terms of T&cmanufacturing value added. In nominal terms, we estimate value added to have been worth US$4.75bn in2008. The industry, which has been laying off workers, is facing a grim couple of years in 2009 and 2010.The prime drivers will be a fall in demand from major European export markets and unrelentingcompetition from low-cost Asian manufacturers. We expect a shakeout of the sector, with a number ofcompanies failing and only those with specialised skills and a higher share of value added surviving. Overall, Romania’s T&C value added will fall by 13.1% in 2009 and by 4.1% in 2010, reflecting verydifficult international economic conditions and the country’s weak competitive position. We see amoderate recovery setting in from 2011, with growth of 2.2%. The industry’s trade performance will alsoreflect the difficult international economic situation. T&C exports will drop by 29.9% this year toUS$4.48bn, with imports down by 39.8% to US$3.36bn. Get Full Details About This Report >> |
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