The WTO expects to see an improvement in clothing and textile trade
today Apr 15, 2013
After sluggish growth in 2012, the World Trade Organization is expecting to see improvements across several sectors in 2013, including clothing and textiles.
“Most other sectors saw improvements in year-on-year growth between the third and fourth quarters, which suggest that a recovery in trade may be under way,” said the WTO in a press release. “Clothing and textiles went from –8% to –1%.”
In 2012, international trade grew only 2% compared to 5.2% the previous year. For the coming year, the WTO expects to see and improved growth rate of 3.3%. Improved economic prospects for the United States in 2013 are expected to be offset by continued weakness in the European Union.
“The events of 2012 should serve as a reminder that the structural flaws in economies that were revealed by the economic crisis have not been fully addressed, despite important progress in some areas. Repairing these fissures needs to be the priority for 2013,” Director General Pascal Lamy said.
Copyright © 2020 FashionNetwork.com All rights reserved.