| Abstract | Hong Kong's total exports of clothing decreased by 4 percent in 1998 amid growing competition from overseas suppliers and lacklustre demand in the major markets except the United Kingdom (UK), the United States (US) and China. With the stabilisation of the Asian financial turmoil, Hong Kong manufacturers of clothing are increasingly exposed to competition from other Asian suppliers. Buyers' orders were gradually diverted to the Association of Southeast Asian Nations (ASEAN) countries and South Korea as they settled on the path to economic recovery. Casual wear will continue to dominate the world-wide product scene, with greater emphasis on "business casual" attire. The outlook of clothing exports is uncertain in 1999 amid slowdown in the global economic expansion and growing competition from overseas suppliers. Exports to the US will continue to grow, albeit at a slower pace, mainly due to competition from Mexico and other Central and South Americas. Hong Kong remains a leader in the world clothing market despite intense competition from overseas suppliers. |
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