Essays

https://doi.org/10.31881/TLR.2018.vol1.iss1.p29-33.a3

How to deal with new challenges? Economic, technological and social aspects of the textile and clothing industry

Ante Gavranović ; Economic Analyst, Zagreb, Croatia

Abstract

Economic, financial and political development has strongly influenced on the textile industry, which accelerated the pace of change. In order to catch the pace it is necessary to take certain steps now or in the near future. The Far East countries record high economic growth, while other, mostly developed industrial countries growth has considerably declined. Consumer behaviour tends to restrain from purchasing of clothing products, raw material prices are growing and lack of raw materials on the market is noticeable. These trends are causing a certain amount of restlessness in the textile industry. The textile and clothing industry have their distinctive features visible in a manufacturing sector which dominantly depends on brand name firms that spread their business all over the world. Production mainly takes place in developing and fast growing countries, since their production destinations, working conditions and wages are most affordable. For example, about 90% of clothing items sold in northern countries are produced in Eastern Europe or at the Far East. At the same time, in the northern countries, where most of clothing products are sold, manufacturing facilities of the clothing industry almost doesn’t exist.

Keywords

Globalization; market liberalization; production relocation; working conditions; business environment; consumer behaviour

Hrčak ID:

202017

URI

https://hrcak.srce.hr/202017

Publication date:

19.6.2018.

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