Slovakia
is a small textile and clothing producer, with a long tradition in the
industry during the time of the Soviet bloc, and now the potential of a
specialist, market-oriented role to play within the European Union. BMI
ranks it as number 65 in the world in terms of textile and clothing
manufacturing value added. In nominal terms we estimate
that to have been worth US$1.18bn in 2008
At
present, the market is very difficult for Slovakian textile and apparel
producers, with a slump in orders forcing production and employment
cutbacks. We see little let-up until 2011: the companies that survive
will need to position themselves to meet fashion-led, quick turnaround,
small to medium-sized orders from EU-based buyers. Overall Slovakia
textile and apparel value added will fall by 15.4% in 2009, and again
by 4.1% in 2010, reflecting very difficult international economic
conditions. We see a moderate recovery setting in from 2011, with
growth of 2.7%. The industry’s trade performance will also reflect the
especially difficult international economic situation, with T&A
exports down 18.6% this year to US$1.527mn, and imports shrinking 17.8%
to US$1.703bn. As a result, there will be a T&A trade deficit of
US$176mn
Date:1/19/2010
Source:PR-inside.com