Apparel, footwear sectors face challenges in months ahead

Challenges await apparel and footwear industries in the next couple of months as industry insiders still face multiple bottlenecks such as capital access hardship, material shortage and rising input costs.

The country earned $8.2 billion in apparel and textile exports in January-July, down 2 percent year-on-year, according to the Ministry of Industry and Trade. Yarn and cotton exports in the seven-month period reached $1 billion, dropping 5.7 percent from a year ago.

Footwear producers are projected to suffer a shortage of export orders until the next quarter. Moreover, labour shortfalls will adversely impact footwear businesses during the peak production.

The country exported 34 million footwear products in the first seven months, showing a 19.7 percent year-on-year increase.

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Category: Business