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South Africa:SACU apparel exports show minor rise – SA
drags down the figures |
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2004-12-10
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A small year-on-year growth in aggregate apparel exports to the United States has been registered from countries belonging to the Southern African Customs Union (SACU).
SACU comprises South Africa, Namibia, Botswana, Swaziland and Lesotho, data for the 9-month period to September 2004 reveals its apparel exports inched up to US$ 38million vis-à-vis same period last year.
However, South Africa’s abysmal performance was a drag on the overall performance.
A massive 40 percent drop was recorded from South Africa’s exports of apparel in $-terms, counting strong local currency, may further decline this figure into the red. For the first month of this year, the country’s US-bound apparel exports were valued at US$ 109mn, down from US$ 184 over the same time last year.
Exporters and other industry stakeholders attributed this to local currency for the weak performance of the sector, saying that local producers are unable to remain internationally competitive with a currency that is worth twice as much against the US$ compared to 2 years ago. But the reason does not extend in answering the other four SACU countries – whose currencies are directly linked to the South African Rand – have shown a far better performance. Excluding South Africa, the BNLS (Botswana, Namibia, Lesotho and Swaziland) have collectively increased apparel exports to the US by US$ 114mn.
Finally, it’s the global competition on the ending to textile quotas and dominance of China, India and Pakistan to some extent that has to be tackled through technological innovation and competitiveness on all levels. |
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