AMSA: ‘Perturbing trend’ in imports
Published: 22nd Nov 2024
Clothing sector employment figures…not encouraging.
Durban, KZN, SA – As the economy still seems to be precariously poised due to various exogenous variables, I remain very cautious about looking into the future.
The formal sector of the economy has not fared well in terms of employment as measured by Clothing Industry Bargaining Council figures (see attached chart).
It appears that the Master Plan is only benefitting a privileged few and the informal sector.
Imports have shown a marked change, and the declining trend has turned around sharply this year with both volumes and values growing in the region of 5%. Clothing imports stood at R26.6 billion for the period Jan-Sept 2024. This is a very perturbing trend that has developed this year.
Overall, it appears that 2025 is going to be another challenging year.
Tags: Paul Theron, AMSA
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