China : US becomes top market for Chinese knitwear

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US becomes top market for Chinese knitwear

23
Apr '13

The US has surpassed Japan to become the biggest market for China’s knitted apparel exports. In January-February 2013, Chinese knitwear exports to the US totaled US$ 1.611 billion, while those to Japan amounted to US$ 1.341 billion.

Hong Kong stood third with knitted garment imports worth US$ 937 million from China during the first two months of the current year. The export price of Chinese knitted garments to Hong Kong increased by 49.69 percent year-on-year.

Malaysia, for the first time entered the list of top five knitted apparel importers from China. With imports worth US$ 549 million, the Southeast Asian nation was the fifth largest market for Chinese knitwear. The average unit price of Chinese knitted garment supplied to Hong Kong increased by as much as 172 percent year-on-year.

At the recent meeting of China Knitting Industry Association, its president Yang Shibin presented a report on current situation of the Chinese knitting industry. He said the focus of the Knitting Association in 2013 would be to further consolidate the industry's share in international market, and make every effort to develop foreign markets and establish new contact points.

The Chinese knitted garment sector is currently facing uncertainties in both domestic and export markets, Mr. Shibin said. He added that in order to achieve steady growth, Chinese knitted apparel companies should avoid risks arising from changes in external environment.

Fibre2fashion News Desk - China

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