LATVIA CLOTHING AND TEXTILES INDUSTRY STRUGGLES AMIDST ECONOMIC DOWNTURN
November 1st, 2008
BY MONIKA HANLEY
LATVIA'S textile and clothing industry is being hit hard in the recent reversal of the country's economic fortunes, as competitors in the labour-intensive industry either close down or move production to cheaper locations.
In the first 10 months of 2008, the output of Latvian textile and clothing companies declined by approximately 7%-10%, most of it in the last few months, said the Latvian Association of Textile and Clothing Industry. That number is expected to keep falling.
The textile association's president Guntis Strazds (NOTE - SPELLING ...
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