Israeli producers issue warning
14/08/2008
The Manufacturers’ Association of Israel has repeated a warning that the country’s textile industry could be facing closure, as a result of the slowdown in the economy, despite the consistent strengthening of the dollar against the shekel in recent weeks. According to figures released by the Affiliation of Textile and Fashion Manufacturers, 850 employees lost their jobs in the first half of 2008.
While textile exports fell 3.3% to $520 million in the first half in real terms, compared with the corresponding period last year, textile imports (especially from Asia), rose 18.6% to $656 million.
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