South Africa which is the largest retail market in Africa and 20th in the world is gaining momentum in its retail industry. In 2009 the retail market was in total of $82.7 billion but is expected to grow 5% continuously between 2010 and 2014 periods. In 2014 it is forecasted as $118.7 billion which is almost 44% increase in 5 years in the whole retail market. Since there are shopping centers everywhere and keeps adding, the strong consumer confidence and high public spending helps to analyze the future forecasts. It is expected that clothing, furniture, home textiles, cosmetics and consumer electronics will be the leaders in capturing the highest market share.
Pakistan Will Double Its Imports
In July, 2010 the heavy monsoon rains started and continued till august in Pakistan. It is estimated that more than 2000 people died and over 1 million homes destroyed. Meanwhile the 1.1 million acres of land that cotton grows has been lost. That lost is accounted around 3.5 million bales of cotton. Pakistan, has the population of 170.6 million citizens, which is the world’s fourth biggest producer of cotton will double its 2010-2011 imports on cotton primarily pima cotton. The 52% in textiles export is the biggest number in the country’s overall economy and the textile industry employs 3.5 million employees. The increase in the cotton prices also affected the textile industry as well as Pakistan.