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Despite hike in exports & prices, garment makers face losses
28
Oct '11
Despite clothing exports increasing faster in the third quarter, garment companies posted losses in the quarter, says a report.

The report reveals that China's garment exports grew very fast in the third quarter and prices rose 3.8 percent in the quarter.

China's third-quarter index report on domestic apparel business climate jointly prepared by China Economic Monitoring Center of the National Bureau of Statistics and the Economic Daily was released on October 25.

The Index report shows that, although garment manufacturers maintained price growth by 3.8 percent in the third quarter, China's garment exports increased very fast in the quarter.

However, being affected by multiple factors, such as hike in labour costs and transportation, higher financing costs and other aspects, losses of garment manufacturing companies significantly increased in the third quarter.

Their losses surged to 1.24 billion Yuan, an increase of 124.7 percent year on year, and 100.3 percent from the previous quarter.

Fibre2fashion News Desk - China

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