MOROCCO: Plunge In Apparel Exports To Europe
Exports of Moroccan ready-made garments and textiles to the EU plunged 9.3 per cent in the first quarter to $363 million from $400m in the year-ago period. The Moroccan Garment Industry Association baamed the slide on increased competition from Asian countries and a general fall in demand for ready-made apparel. It added that it expects sales to total $2.8 billion in 2002.