Several big players in US textile Industry file for Bankruptcy as imports surge in 2003.

US imports surged, especially from China and Vietnam. By August 2003 textile output was down 9.8% and clothing 13.3%. Several big players have filed for bankruptcy.

(PRWEB) January 31, 2004 --Research and Markets announces the addition of the 2004 edition of the World Textile and Apparel Trade and Production Trends report to its offerings.

US domestic clothing sales picked up in mid-2003. Textile exports rose 2.9% in January-July 2003 but clothing fell 6.2%. US imports surged, especially from China and Vietnam. By August 2003 textile output was down 9.8% and clothing 13.3%. Several big players have filed for bankruptcy.

In Brazil output was boosted by recovery in the Argentinean market. Argentinean clothing exports also bounced back while Colombia benefited from special US access under ATPDEA. But Mexico struggled as competition rose from Asian and CBI suppliers.

The EU textile and clothing deficit fell in 2002 for the first time in six years and in Eastern Europe, EU membership and the end of quota protection in 2005 are causing concern as production in many countries becomes too costly and cheap Asian imports grow. But Russian output is set to expand significantly under the countrys light industry development plan.

In China export growth remained strong but price falls put margins under pressure. Output rose in all the main sectors, leading to pressure on raw material supplies. In Hong Kong only re-exports were strong. Local firms are pinning their hopes on the Closer Economic Partnership Agreement (CEPA) with China.

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