SOUTH KOREA: Textile Exports Plunge Amid Falling Prices
South Korea's textile exports fell in the first 11 months of 2001 compared to the pervious year due to lower prices and shrinking demand, the Korea Federation of Textile Industries said today.
According to its figures, textile exports fell 14 per cent to $14.57 billion between January and November, with strong competition among Asian exporters forcing down the price of Korea's textile exports.
It added that on average, the price of textile exports fell 8.7 per cent, while raw textile exports plunged 19.2 per cent, yarn exports fell16.9 per cent, fabric exports dropped 13.4 per cent and finished textile goods slumped 13.5 per cent
The federation also said that the country's textile's trade surplus fell 16.3 per cent to $10.18 billion in the period from the year-ago period.
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