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Friday, March 29, 2024

Recovery signals in textile sector in Taiwan

The textile exports of Taiwan has presented a sound recover signals in the month of July in terms of improving the industry sentiments, said is so by the Taiwan Textile Federation. It is offering a positive outlook for the remaining months of the current fiscal year. It also says that the textile sector and the fabric manufacturers can take benefit from the rising demand in coming future for the FIFIA World Cup, to be held in Russia.

Fabric manufacturers like Shinkong Synthetic Fibers Corp and Far Eastern New Century Corp, are also expected to secure large orders of sports apparel from global brands, a leading Taiwanese daily reported quoting the federation.  A number of other manufacturers, including Eclat Textile Co and Makalot Industrial Co, expressed optimism about revenue and earnings picking up in the second half of this year. 

The selling price on average increased from 4.3$ to 4.73$ in the month of July and there was 0.73% increase in the textile export with an year on year basis index, reaching to the net amount of 814.7 million dollars as compared to the same month last year, said the federation. With an increase of 0.05% for year-on-year basis in the first seven months, is an improvement from 0.04% annual decline in the first six months this year.

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