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Garment exports reflect a sluggish trend
13
Mar '08
Textile and garment exports of China dropped by 32.9 percent in February 2008, due to a declining demand from US and European market.

Besides, an unpredictable change in weather resulting in severe winter has also had its impact on exports of garments to international markets.

Exports touched US $10.3 billion last month, showing a drop of 8.5 percent compared to the same period last year.

The average exports in January and February totaled to $25.6 billion, up by a mere 9.6 percent from the previous year.

In 2007, China exported about $171.2 billion worth of textile and garment products, representing an increase of 18.9 percent from 2006.

Trade surplus for the month of February shrunk by nearly one third with exports to the US falling by 5 percent, while sales to Europe rose by only 1 percent.

Moreover, the rising cost of labor and appreciation of yuan by about 14 percent have also played a critical role in the slowing down of garment exports.

To the extent that producers were reluctant to take orders for the fear of exchange losses. This in turn resulted in China losing its clients to other countries like India.


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