In 2005 the branch was confronted with severe competition in world markets, which was influenced by the expiry of the World Trade Organisation Agreement on Textiles and Clothing on 31 December 2004. As a result, competition in the EU market has intensified for manufacturers from EU member states as well as other manufacturers from third countries in standard textile products from cotton and synthetic fibres, in knitted articles and wearing apparel. The keener competition not only hampers access to the market, but also brings a considerable lowering in the prices of products. Revenues from the sale of manufactured goods and services declined by 8.9 % to EUR 1,685.5 million in 2005 as compared to 2004.
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