Bulgarian Textile Industry More Appealing To Foreign Investors
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.
- » Bulgaria’s 2015 Arms Exports Top EUR 640 M, Up 50% Y/Y
- » Sweden’s Assa Abloy Acquires Bulgarian-Based Locking Systems Maker Mauer
- » China’s Zhengzhou Yutong Bus Co. Considering Production in Bulgaria
- » Workers to Protest Again over Closure of Tobacco Plant in Sofia
- » Bulgarian Govt Proposes to Ban Sale of Two Key Arms Firms
- » Bulgaria Ranks among Top Software Outsourcing Destinations, Studies Show
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