India's apparel exports drop 16.7% in July 2012-13

AHMEDABAD: India's apparel exports stood at $1 bn, dropped 16.7% in July 2012-13 against same period last fiscal. Exports in the first four month dropped 13.23% over same period last fiscal, indicated Apparel Export Promotion Council data.

India's apparel exports in April-July 2012-13 stood at $4.2 bn, against $4.9 bn same period last fiscal. India's exports in 2011-12 were $13.7 bn.

India's imports to its biggest buyers in the West -- the US and the EU -- too declined during the period. Apparel imports of the US stood at $35.9 bn, declining .05% in January-June 2012 as against the same period last calendar.

India's performance in that market fell 9.8% and reached $1.7 bn in January-June 2012 against $1.9 bn in January-June 2011. Except Vietnam, that grew 4.72% in the US during the said period, all supplier countries like China, Indonesia, Bangladesh, Mexico witnessed a fall, as per the US Department of Commerce.

EU's apparel imports too fell during the period, declining 13% in January-June 2012 over same period last calendar. EU's imports stood at $39.1 bn in first six months of this calendar.

India's apparel exports to EU was down 25% at $2.9 bn. Bangladesh grew in that market while the rest including China and Turkey slumped. India staggered 33.47% followed by China whose exports to EU fell 24.83% during January-June 2012.