MOSCOW TIME: 19.04.2024 10:46:33
Shinta Indah Jaya, a leading producer of quality knitted fabrics, may target Russia and Brazil as potential growing new markets for Indonesian exports.
While the growth of the apparel market is stagnating in the EU, US, and Japan, countries like China, India, Russia and Brazil are emerging as apparel retail markets, said a top official from the company.
“The current global apparel market is estimated to be $1.15 trillion, which forms nearly 1.8% of the world GDP. Almost 75% of this market is concentrated in EU-27, US, China and Japan. The next largest markets are Brazil, India, Russia, Canada and Australia, in descending order with a combined share of approximately 18%,” said Stacey Hermijanto, CEO, PT Shinta Indah Jaya.
Source: www.fibre2fashion.com
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