Garments and textiles sector cautious for 2023
The garments and textiles sector is being cautious in its outlook for 2023 amid diminishing total demand and rising inventory.
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The garments and textiles sector is being cautious in its outlook for 2023 amid diminishing total demand and rising inventory.
Orders of textile and garment exporters in the last months of the year have been falling sharply compared to production capacity, combined with fluctuating raw material prices, leaving many businesses to prepare for a bumpy year ahead.
While many exporters and producers had orders for 2022, they are worried about a possible shortage of production materials because of supply disruptions from China.
The risks of production disruptions and capacity reduction put considerable pressure on businesses
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