Israel: Currency Appreciation, Textile Industry Can Die
The Israeli manufacturers' Association has warned again that if the government fails to take timely measures, the textile industry will probably die out soon.
According to statistics, in the first half of this year, Israeli textile exports were only 520 million US dollars, down 3.3% from the same period last year, while imports increased by 18.6% to 656 million US dollars during the same period. In the view of the manufacturers' Association, the global market demand and the strong competition from Asian countries such as China have made it impossible for the textile industry to make up for the appreciation of Kerr's appreciation by raising the price. In addition, the domestic market is flooded with imported commodities. At present, textile enterprises are basically running at zero profit or even at a loss. In the first half of this year, a number of textile enterprises in Israel were closed down, 850 people were unemployed, and the existing enterprises were also running poorly. To this end, the manufacturers association once again called on the government to take urgent measures to rescue textile enterprises.
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