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Textile cos rapidly losing interest in US market
03
Jun '08
According to the statistics, the average custom-clearance rate of Chinese brassiere products this year till May 20, stood at 17.95 percent, down by almost 2.73 percent than the same period of last year.

Market insiders inform that Chinese textile industry did not attract much interest from the US buyers at the 103 China Import and Export Fair held in last month.

In the past, Chinese textile and clothing products were mainly exported to Hong Kong, the US and EU, but, now EU was replacing US to become the second biggest export market.

Recently, Chinese government issued export quota to US to a total of 3698 Chinese textile and clothing enterprises. This figure shows a drop of 7.8 percent than last time. Of these, only 58 percent of the bra manufacturers applied for this quota and only 27.6 percent of the plant-fibre trousers enterprises were interested.

Experts analyze that with the slow down in the US economy, many Chinese enterprises have lost interest and instead of bidding for US export quota, are preferring to explore newer markets and avenues of business.

Fibre2fashion News Desk - China

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