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Bulgarian Textile Industry More Appealing To Foreign Investors

Business » INDUSTRY | February 20, 2014, Thursday // 13:33| Views: 1654 | Comments: 1
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Bulgaria: Bulgarian Textile Industry More Appealing To Foreign Investors Photo by Monitor.bg

Textile and clothing industries in Bulgaria are at their peak as the export of garments and fabric reached a record-high of EUR 1.8 B last year.

The statistics show an increase of approximately EUR 130 M, or 8.5%, compared to the previous year, Bulgarian newspaper Presa reports.

Expectations for 2014 are also optimistic as the sector seems to be recovering from the impact of the world crisis.

Prior to 2008, textile and clothing industries were thriving, but the economic turbulence forced many businesses to close or to cut their production. 2012 marked a renewal of the sector and placed Bulgaria and Romania as one of the top markets in the region. The two countries are being dwarfed by key players as Turkey and Italy, but hold high expectations of development.

More than 120 000 people in Bulgaria are employed by the industry.

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#1
madoods - 21 Feb 2014 // 18:29:27

I sincerely hope that Bulgaria does not take the route forced on other EU countries, by selling out its profitable industries to multinational operators who relocate the work to developing countries. It is fantastic that fabrics and textiles are of such high quality in Bulgaria. However, it is often difficult to find anywhere which sells it to ordinary customers

Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria